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Select Committee on Enterprise and Economic Strategy debate -
Wednesday, 9 Apr 1997

SECTION 114.

I move amendment No. 124:

In page 90, subsection (2)(a), line 6, to delete "or has" and substitute "or, at any time during the period of three years preceding the meeting at which the election is to be made, has".

Section 114(2)(a) indicates that a person who is, or has been, an officer or a voluntary assistant of the credit union shall not be qualified for election as its auditor. The Irish League of Credit Unions, the Credit Union Advisory Committee and other interests criticised this provision as being unduly onerous. A common theme of their suggestion was that the blanket prohibition of such a member or voluntary assistant being subsequently elected or appointed auditor was too harsh and that such a person should become qualified for appointment within a certain period after they had worked with a credit union. I have decided to adopt this suggestion, advocated by the Credit Union Advisory Committee, to the effect that a three year gap should apply. This should allow for a situation where a young person, who voluntarily worked in his or her credit union, could subsequently be appointed auditor after acquiring the necessary qualifications some three years later.

Amendment agreed to.
Section 114, as amended, agreed to.
Section 115 agreed to.
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