asked the Minister for Industry and Commerce whether he is aware that his predecessor promised legislation to permit increased lending and deposit rates by specially authorised loan societies; and if he will indicate the present position.
Ceisteanna—Questions. Oral Answers. - Lending and Deposit Rates.
48.
I am aware that my predecessor accepted, in principle, proposals made by certain specially authorised loan societies that the limits on loans and deposits applicable to such societies should be raised.
In addition to these proposals, there is a wide variety of amendments to the Friendly Societies Act, 1896 which have been suggested by various interests and which are being examined in my Department. Examination of all the proposals is likely to take some time yet. I would not consider it practical to implement in isolation the proposals relating to specially authorised loan societies. It is my intention to introduce a single measure to provide for all the amendments which I consider acceptable.