Clare Daly (Dublin North, Socialist Party)
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186. To ask the Minister for Finance the reason he has not responded to the Newbridge Credit Union action group's alternative proposals which would allow it to keep the credit union in Newbridge, while at the same time staff have received a notice that they will be transferring to Naas, County Kildare. [46288/13]

Michael Noonan (Limerick City, Fine Gael)
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As agreed at the meeting with Newbridge Credit Union Action Group, on receipt of their alternative proposal, I forwarded it to Professor Honohan, Governor of the Central Bank, with a view to a meeting between the Central Bank and the Action Group. This is now a matter for the Central Bank and I understand that the meeting took place last week. A transfer under the Central Bank and Credit Institutions (Resolution) Act 2011 constitutes a relevant transfer under the European Communities (Protection of Employees on Transfer of Undertakings) Regulations 2003, which was the basis for the notification of staff.