Joe Carey (Clare, Fine Gael)
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Question 129: To ask the Minister for Finance when he plans to publish legislation in relation to EU Consumer Credit Directive; and if he will make a statement on the matter. [22694/10]

Pat Breen (Clare, Fine Gael)
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Question 138: To ask the Minister for Finance the position regarding the implementation of the Consumer Credit Directive; when he expects legislation to be published in respect of this; his plans to implement this Directive as and from the 11 June 2010; and if he will make a statement on the matter. [22801/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 129 and 138 together.

In consultation with the Office of the Attorney General, my Department is currently preparing the draft Statutory Instrument, which will transpose the Consumer Credit Directive into Irish Law. It is intended that the legislation will be finalised by 11th June 2010. The Directive will take effect from that date.

Joe Carey (Clare, Fine Gael)
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Question 130: To ask the Minister for Finance the position regarding applying a differentiated regime for credit unions in relation to EU Consumer Credit Directive as the directive allows; and if he will make a statement on the matter. [22696/10]

Joan Burton (Dublin West, Labour)
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Question 153: To ask the Minister for Finance the deadline for implementation of the Consumer Credit Directive; if and when implementing legislation is foreseen; his plans to apply a differentiated regime to credit unions, the possibility for which is foreseen in the directive; the consultations that have taken place with the credit union movement in this regard; and if he will make a statement on the matter. [22908/10]

Richard Bruton (Dublin North Central, Fine Gael)
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Question 160: To ask the Minister for Finance the legislation that is necessary to implement the new EU Consumer Credit Directive due to be implemented on 11 June 2010; and if he will include measures to avail of the discretion in that directive to treat credit unions differently from other financial institutions. [22965/10]

Jan O'Sullivan (Limerick East, Labour)
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Question 174: To ask the Minister for Finance when the EU Consumer Credit Directive will be incorporated into Irish law; if it will be done by way of primary legislation or statutory instrument; if it will take account of the significant difference between credit unions and other credit institutions in the regime that will be introduced; and if he will make a statement on the matter. [23230/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 130, 153, 160 and 174 together.

The Consumer Credit Directive establishes a harmonised legal framework in the European Union for the provision of consumer credit ranging from €200 up to €75,000. (It does not apply to mortgages). It replaces a 1987 Directive (87/102/EEC), which laid down minimum rules for consumer credit arrangements within the EU.

In consultation with the Office of the Attorney General, my Department is currently preparing the draft Statutory Instrument, which will transpose the Directive into Irish Law. It is intended that the legislation will be finalised by 11th June, 2010. The Directive will take effect from that day.

I believe that the Directive enhances the strong regulatory regime underpinning consumer protection, and as such, I have decided that credit unions should be subject to its full application.

However, following consultation with representatives of the Credit Union movement, I am aware that the credit unions will require some time to upgrade their systems and train staff, so that they can effect compliance with all the requirements of the Directive. Consequently, I have adopted the discretion allowed for under Article 2.5 applying limited provisions of the Directive to them until 11th December 2011, after which date, the full Directive will take effect.