I move amendment No. 104:
In page 63, subsection (4)(b), line 3, to delete "30" and substitute "50".
This section sets out the conditions for holding a special general meeting of a credit union. Subsection (3) allows a qualifying group of members to request such a meeting and the board of directors is required to convene it within six weeks of the request. A qualifying group is defined in subsection (4) as numbering at least 30 members or, if it is less, at least 10 per cent of the membership. The Irish League of Credit Unions, supported by a number of individual credit unions, has suggested that the figure of 30 members is too low for a large credit union. The argument was put to me that a dissident group of members in a large credit union could create difficulties for the running of the union if they frequently sought special general meetings. It was suggested the number should be 100. However, the figure should not be so high as to make it difficult for concerned members of a credit union to collect sufficient support to require the holding of a special general meeting. Accordingly, I have decided to raise the figure to 50.