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Dáil Éireann debate -
Wednesday, 20 Mar 2002

Vol. 550 No. 4

Written Answers. - Banking Sector Regulation.

John Perry

Question:

118 Mr. Perry asked the Tánaiste and Minister for Enterprise, Trade and Employment when she will introduce the appropriate statutory instrument to increase the limits for loans and deposits that apply to specially authorised loan societies; if she will give a commitment that the statutory instrument will be laid before both Houses of the Oireachtas before the dissolution of Dáil Éireann; and if she will make a statement on the matter. [8766/02]

John Perry

Question:

119 Mr. Perry asked the Tánaiste and Minister for Enterprise, Trade and Employment the progress made on the increase in lending and deposit limits for friendly societies; when the increases will be put in place; and if she will make a statement on the matter. [8767/02]

I propose to take Questions Nos. 118 and 119 together.

The draft regulations increasing the statutory financial limits on deposits with, and loans by, specially authorised loan societies were sent to the Office of the Attorney General for settling in September 2001.

Under the provisions of the Friendly Societies (Amendment) Act, 1977, each House of the Oireachtas must pass a resolution approving the regulations in draft form.

On receipt of the settled draft regulations from the Office of the Parliamentary Counsel, it is my intention to lay the draft regulations before each House of the Oireachtas for their approval, as required, at the earliest possible opportunity. I want to do so before the Easter recess, if possible.

When both Houses pass the resolution, I intend to sign the regulations bringing the increased limits into effect.

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