Brian Hayes (Dublin South West, Fine Gael) | Oireachtas source

Under the current wording the Central Bank may exempt certain additional services which involve no undue risk to the credit union. This amendment removes the reference to "undue risk" in respect of additional services that the bank may exempt from the application requirements under section 48 of the Credit Union Act 1997. The wording may be too restrictive and limit the instances where the bank can exempt certain services from the additional requirements provided in that section. Instead, the bank may exempt such services which may be for the mutual benefit of its members.