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Select Committee on Enterprise and Economic Strategy debate -
Tuesday, 8 Apr 1997

SECTION 5.

Amendments Nos. 2, 3, 4 and 5 are related and may be taken together.

I move amendment No. 2:

In page 14, subsection (2), line 42, to delete "section" and substitute "subsection".

The four amendments to section 5 are technical and are all related. Section 5 relates to the repeal of credit union legislation and is, therefore, closely linked to section 1 which provides for the commencement of the Credit Union Act on such day or days as may be fixed by order. Clearly, the commencement of parts of this Bill will proceed simultaneously with the repeal of any corresponding provisions in existing legislation. Having regard to the fact that a phased approach to the repeal of existing credit union legislation is likely, the references in subsections (2) and (3)(b) and (6) to "the commencement of this section is not sufficiently precise". Deputies will also note that all these subsections deal with registration which is the subject of Part II. Clearly, therefore, the commencement of these subsections must be on the commencement of Part II and not at the time the first commencement order under section 5 is made.

The purpose of the four amendments, therefore, is to rectify any potential legal difficulty vis-�-vis the repeal of existing legislation and the commencement of the registration provisions. What is simply intended is that these subsections can be brought into effect in conjunction with their counterparts in Part II. They are technical amendments.

Amendment agreed to.

I move amendment No. 3:

In page 15, subsection (3), line 2, to delete "section" and substitute "subsection".

Amendment agreed to.

I move amendment No. 4:

In page 15, subsection (3)(b), line 11, to delete "section" and substitute "subsection".

Amendment agreed to.

I move amendment No. 5:

In page 15, subsection (6), line 32, to delete "section" and substitute "subsection".

Amendment agreed to.
Section 5, as amended, agreed to.
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