Michael Healy-Rae
Question:212. Deputy Michael Healy-Rae asked the Minister for Finance his views on correspondence (details supplied) regarding credit unions; and if he will make a statement on the matter. [51278/12]
View answerTuesday, 20 November 2012
Questions (212, 213, 214, 215, 216)
Michael Healy-Rae
Question:213. Deputy Michael Healy-Rae asked the Minister for Finance with regard to the Credit Union Bill 2012, the requirement of credit unions to have a remuneration committee appears to indicate that the directors of the future will be paid for their service and will impose further costs on credit unions and sound the death knell for voluntarism in the movement; and if he will make a statement on the matter. [51281/12]
View answerMichael Healy-Rae
Question:214. Deputy Michael Healy-Rae asked the Minister for Finance his views on whether the proposal in the Credit Union Bill 2012 to introduce term limits and overly restrictive conditions on board membership will have huge implications for recruitment of new directors in the future; and if he will make a statement on the matter. [51286/12]
View answerMichael Healy-Rae
Question:215. Deputy Michael Healy-Rae asked the Minister for Finance his views on whether there are major difficulties surrounding the implementation of the Credit Union Bill 2012 which requires the prior approval of the Central Bank of Ireland of nominees going forward for election to officer position; and if he will make a statement on the matter. [51287/12]
View answerMichael Healy-Rae
Question:216. Deputy Michael Healy-Rae asked the Minister for Finance his views on whether the restrictions in the Credit Union Bill 2012 on the tenure of the chair as well as the additional responsibility of monitoring their fellow directors will cause serious difficulties for credit unions; and if he will make a statement on the matter. [51288/12]
View answerWritten answers
I propose to take Questions Nos. 212 to 216, inclusive, together.
The Credit Union Bill 2012 is consistent with the Final Report of the Commission on Credit Unions, which was agreed over a nine-month period by all Commission members, including the Irish League of Credit Unions. The Credit Union Bill delivers on over 60 of the recommendations in the Commission Report.
I am aware of the concerns expressed on the provisions of the Bill regarding term limits, the role of treasurer and board membership, notwithstanding that the Bill implements the Commission's agreed recommendations on these issues.
I will reflect on the matters raised during the second stage debate on the Bill, including those raised on behalf of the Irish League of Credit Unions. I look forward to the opportunity to discuss constructive amendments from Deputies at Committee stage.