Written answers
Wednesday, 28 September 2005
Department of Finance
Financial Services Regulation
9:00 pm
Richard Bruton (Dublin North Central, Fine Gael)
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Question 518: To ask the Minister for Finance if a new order is being considered which will restrict the investment options open to credit unions; the aims of the proposed changes; the consultation he is having with the credit union movement on the proposals. [25457/05]
Brian Cowen (Laois-Offaly, Fianna Fail)
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My Department has requested the Registrar of Credit Unions in the financial regulator to examine and make recommendations on what are appropriate investments for credit unions. I understand that the registrar has not yet completed his examination and is continuing to consult and communicate with the credit union movement. As soon as the registrar submits his report to my Department it is my intention to refer it to my advisers on credit union matters, the Credit Union Advisory Committee, for its views on its recommendations.
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