Dáil Éireann debate -
Thursday, 3 Dec 1998

Vol. 497 No. 7

Written Answers - Credit Union Advisory Committee.

David Stanton

Question:

90 Mr. Stanton asked the Tánaiste and Minister for Enterprise, Trade and Employment the number of occasions the Credit Union Advisory Committee has met since its establishment; the committee's work programme; the progress, if any, made to date; and if she will make a statement on the matter. [26224/98]

Minister of State at the Department of Enterprise, Trade and Employment (Mr. Treacy)

The Credit Union Advisory Committee has met approximately 309 times since its establishment over 30 years ago under section 27 of the Credit Union Act, 1966. The committee now operates under section 180 of the Credit Union Act, 1997. It consists of seven members who are active in the credit union movement and give substantial practical assistance to the work of the advisory committee. The current committee was constituted in 1997 and appointed for a term of three years.

The committee's statutory function is to advise the Minister for Commerce, and such other persons as the Minister thinks fit, in relation to the improvement of the management of credit unions; the protection of the interests of members and creditors of credit unions and other matters relating to credit unions upon which the Minister, the Registrar of Friendly Societies or such other persons may seek the advice of the committee.

It is a statutory requirement that the Minister for Commerce consults the committee before making any regulations under the Credit Union Act, 1997. The registrar is also empowered to consult with the committee on any matter relating to the exercise of his supervisory powers over credit unions under the 1997 Act.

In recent years, the committee's work has included the preparation of a report on the training of credit union officers; providing views to the Minister on the adequacy of certain provisions in the published Credit Union Bill, 1996, prior to its enactment in 1997; providing comment to the Minister on the scope of the draft Credit Union Act (Commencement) Order, 1997, prior to its implementation; consulting with the Registrar of Friendly Societies, prior to his giving approval to the draft Standard Credit Union Rules document which was prepared by the Irish League of Credit Unions for its members and providing views to the Minister on the fees to be charged by the Registrar under the 1997 Act, prior to the implementation of the Credit Union Act (Fees) Regulations, 1998.

It is my intention and that of the Registrar to seek the advice of the committee in advance of the commencement of the remaining sections of the 1997 Act. I am also aware that the committee has recently been considering on its own initiative the planned installation of a centralised IT system for credit unions and I salute them on this excellent initiative.