Seanad debates

Wednesday, 7 October 2020

Investment Limited Partnerships (Amendment) Bill 2020: Committee Stage (Resumed)

 

10:30 am

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I am personally not aware of that, and the only commitment I can give today is that I will have a response to that before Report Stage. I do not have the information today. I was not aware the Senator was going to raise that issue. If I had been aware of that in advance, perhaps I could have prepared a response. However, I do not have the information to reply to the question with me. The only commitment I can give is that I will have a response to the point the Senator made prior to Report Stage.

The Senator raised the issue of the Credit Union Restructuring Bill and asked why it has been held over. I will be up front. The reason is this Bill is more critical for the economy, for job creation and for investment than the Credit Union Restructuring Bill. The Credit Union Restructuring Bill will be before the House shortly. A restructuring board was established for credit unions after the financial crisis. Its job is completed. The Bill concerns the winding up of an old board that no longer has any function. It is a bit of housekeeping to wind up the old restructuring board that no longer has a role to play. There are no jobs or investment hinging on that Bill. Therefore, I would prioritise this legislation over the winding of the restructuring board legislation because this has job creation potential.

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