Vol. 447 No. 1
144 Mr. Allen asked the Minister for Enterprise and Employment when the new Credit Union Bill will be published; if, in that Bill, the maximum term of loans will be extended from five years to ten years; if there will be provisions dealing with the amount of shares; and if Credit Unions will be allowed to offer a greater range of services to the public. [3138/94]
Draft proposals for a Credit Union Bill are currently with the Parliamentary Draftsman. It is not yet possible to formally indicate when a Bill will be ready for introduction in the Oireachtas. At this year's AGM of the Irish League of Credit Unions and at the recent International Credit Union Forum of the World Council of Credit Unions in Cork, the intention to introduce new legislation in this area was signalled by me and by my collegue, the Minister for Arts, Culture and the Gaeltacht. I have said that I hoped to soon introduce such legislation, following extensive consultations with intersted parties, including the League. While I have publicly given general indications of the product of these consultations, it would not be in order to formally anticipate in this House the content of whatever proposals might emanate from the normal process of drafting and finalisation of legislative proposals.
