Under section 18E (1)(b) of the Central Bank Act, 1942, the Central Bank shall establish an advisory group to advise the Central Bank, where the Bank requests, on the performance of its functions and the exercise of its powers in relation to credit unions.
I have been advised by the Central Bank that given the establishment of the Commission on Credit Unions (May 2011-March 2012), the Commission on Credit Unions Implementation Group (May 2012-May 2014) and the Implementation Group arising from the Credit Union Advisory Committee Review of Implementation of the Recommendations in the Commission on Credit Unions Report (established November 2016), the advisory group referred to in the question has not been established to date. The Central Bank further informs me that it will give consideration to the appropriate time frame for establishing a Credit Union Advisory Group taking account of other developments in the sector.
The Credit Union Advisory Committee (CUAC) is a committee established by the Minister for Finance, under section 180 of the of the Credit Union Act 1997 to provide advice to the Minister on credit union matters.
