asked the Minister for Trade, Commerce and Tourism if he is planning to make regulations setting out new loan limits under the Friendly Societies Acts; if he is aware that there is an impression that the new limits will be set at £350; and if he is further aware that this is way below what most societies acting under the Friendly Societies Acts feel is warranted; if he will consider setting a more appropriate limit of about £2,000; and if he will make a statement on the matter.
Written Answers. - Friendly Societies Acts.
558.
I would refer the Deputy to the draft Friendly Societies Regulations, 1982, which were laid before the House on 29 April 1982. The new limit for loans is set therein at £500. This figure represents an increase on the figure of £350 in the draft regulations laid before the House on 26 January 1982 by my predecessor. Due regard was had to representations from the societies and to other relevant considerations in settling this limit and I see no reason to increase it further.