Dáil Éireann debate -
Thursday, 14 Mar 1991

Vol. 406 No. 5

Written Answers. - Credit Union Law.

Richard Bruton

Question:

59 Mr. R. Bruton asked the Minister for Industry and Commerce whether he has considered updating the credit union law to allow the credit unions (1) expand into new areas of activity, (2) increase the scale of their deposit taking and lending activities.

Minister for Industry and Commerce (Mr. O'Malley)

In 1989 the then Minister for Industry and Commerce announced the establishment of a joint committee to examine the legislation on credit unions and make proposals on any new legislation necessary for the future development of the credit union movement. The joint committee is comprised of representatives of the Irish League of Credit Unions, the Credit Union Advisory Committee, the Registrar of Friendly Societies and officials of my Department.

I expect the joint committee to conclude their work and report to me later this year when I will be in a position to give the issues, including those mentioned by the Deputy, further consideration.