Amendment Nos. 122 and 123 are related and may be discussed together by agreement. Is that agreed? Agreed.
SECTION 113.
I move amendment No. 122:
In page 89, subsection (9), line 45, to delete "person, and the credit union shall comply with any such order" and substitute "person".
Section 113(9) currently indicates that the registrar may, by notice in writing, order the credit union not to elect or re-elect to the office of auditor, or the directors not to fill a casual vacancy in that office with a named person, where the registrar is of the opinion that it would not be in the interests of the orderly and proper regulation of the business of a credit union or in the members' interest.
The Irish League of Credit Unions has proposed that a right of appeal should be given against any decision of the registrar in this case. I am accepting this point by providing that the credit union may appeal against such an order by the registrar to the High Court. This is the purpose of amendments Nos. 122 and 123.
This amendment deals with auditing and most auditors would have a recognised qualification. The credit unions with which I am familiar have reputable and reliable auditors. It may be a necessary section but I cannot see it being used.
The registrar is a wise man and I do not think he would be likely to avail of this provision lightly.
Amendment agreed to.
I move amendment No. 123:
In page 89, between lines 45 and 46, to insert the following subsection:
"(10) Where the Registrar makes an order under subsection (9), the credit union may appeal against the order to the Court but, subject to any direction or decision of the Court, the credit union shall comply with the order.".
Amendment agreed to.
Section 113, as amended, agreed to.