Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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Question 69: To ask the Minister for Finance if he will increase the length of time in which the offence of mismanagement of a credit union can be investigated, which currently stands at two years from the date on which the offence was committed. [19337/11]

Michael Noonan (Limerick City, Fine Gael)
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The Deputy will be aware that the Commission on Credit Unions was established by Government on 31 May 2011 and has begun its programme of work. The Commission will review the future of the credit union movement and make recommendations in relation to the most effective regulatory structure for credit unions. Included in the terms of reference for the Commission is the requirement to examine existing credit union legislation and, in particular, the Credit Union Act 1997 and make recommendations on changes required to implement its findings. I expect that this review will include an examination of the offences already provided for in the Act. I have no plans to carry out a separate review of the offence of mismanagement of a credit union. The Commission will make initial recommendations on strengthening the regulatory framework for credit unions by 30 September 2011 and will submit a final report to me, as Minister for Finance, by 31 March 2012.