Amendment Nos. 132 and 133 are related and may be discussed together by agreement. Is that agreed? Agreed.
SECTION 125.
I move amendment No. 132:
In page 98, subsection (1) (b), line 32, after "credit union" to insert "(in that capacity)".
The Irish League of Credit Unions and the credit union of Telecom Éireann proposed the insertion, in paragraph (b) of this section, of the phrase "in his capacity as a former member" in order to mirror what was in the corresponding paragraph (a) which deals with disputes between a current member and his/her credit union. Aside from the issue of consistency, which is behind these amendments, I should explain more directly why these phrases are necessary. It will be clearer from other sections of the Bill that a member of a credit union may supply services or goods to the credit union in a professional capacity. The intention of these phrases is to preclude such contractual disputes from being covered by the arbitration mechanism. These should be resolved in the normal way using, if there is a need to do so, the courts in the final analysis. The purpose of these phrases is simply to indicate that these dispute provisions apply where the dispute arises between the credit union and the member or former member solely by virtue of their membership of the credit union.
Amendment agreed to.
I move amendment No.133:
In page 98, subsection (1)(c), line 36, after "member" to insert "(in their capacity as such)".
Will all credit unions operate within the calendar year?
Does the Deputy mean the year coinciding with the period January to December?
Yes.
The financial year concludes at the end of September. Therefore, the year runs from October to September.
Does that apply to the new tax law?
No, it is normal financial year which obtains in respect of credit union business.
Amendment agreed to.
Amendments Nos. 134 to 136, inclusive, are related and may be discussed together by agreement. Is that agreed? Agreed.
I move amendment No. 134:
In page 99, subsection (5), line 14, to delete" Circuit" and substitute "District".
Solicitors acting for a particular credit union proposed that the reference to the Circuit Court in these subsections be replaced by a reference to the District Court. In support of their case they pointed out that, in other sections of the Bill, appeals against decisions of credit unions are made to the District Court and they commented that there does not appear to be any justification for going beyond that provision. Following consultation with the Attorney General's office, I accepted their recommendation and the parliamentary draftsman prepared relevant amendments to give effect to this change. The District Court should be the appropriate court.
Was that discussed yesterday?
Yes.
Is the Minister of State conceding to the use of the local court?
Only in respect of this section.
To clarify the position, the Chairman yesterday referred to the Registrar being on the same legislative level as the District Court.
Amendment agreed to.
I move amendment No. 135:
In page 99, subsection (6), line 16, to delete "Circuit" and substitute "District".
Amendment agreed to.
I move amendment No. 136:
In page 99, subsection (6), line 17, to delete "the judge for the time being assigned to the circuit" and substitute "a Judge of the District Court for the district".
Amendment agreed to.
Section 125, as amended, agreed to.