Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

In total, 51 amendments have been made to the Bill since its publication in December 2022. While the majority of those were technical amendments clarifying and refining the language of the Credit Union Act 1997, two key amendments were to section 35, which allows credit unions to take part in loan participation and loan syndication, and to section 51A, which allows credit unions to refer members to other credit unions in all circumstances regardless of whether the referring credit union provides the services the member is seeking.

Group 3 addresses some of these amendments. They are technical amendments to clarify and tighten the language of the Credit Union Act as regards some of the following areas: board structure; make-up and governance of credit unions and corporate credit unions; reporting to the credit committee; and modernisation of the Act’s language.This came from my initial reading of the Bill. There were references to "he", "his", "him", "she", "her" and some other language relating to the wiseness of savings and things like that which were from a different time.

Other issues addressed here include the election of the board oversight committee, the eligibility of a CEO to be appointed to the board of directors, reporting rule changes to the Central Bank, compliance reporting to the Central Bank, decisions made by the board in respect of additional services, the make-up of the nomination committee and the functioning of the corporate credit union.