Paul McGrath
Ceist:15 Mr. McGrath asked the Minister for the Environment the proposals, if any, he has to amend the Building Societies legislation in view of the remarks made by the Minister for Finance in Dáil Éireann on 11th May 1993.
Written Answers. - Building Societies Legislation.
Ivan Yates
Ceist:26 Mr. Yates asked the Minister for the Environment the proposals, if any, he has to amend the Building Society legislation in view of the remarks made by the Minister for Finance in Dáil Éireann on 11th May 1993.
Patrick D. Harte
Ceist:29 Mr. Harte asked the Minister for the Environment the proposals, if any, he has to amend the Building Societies legislation in view of the remarks made by the Minister for Finance in Dáil Éireann on 11th May 1993.
Edward Nealon
Ceist:32 Mr. Nealon asked the Minister for the Environment the proposals, if any, he has to amend the Building Societies legislation in view of the remarks made by the Minister for Finance in Dáil Éireann on 11th May 1993.
Godfrey Timmins
Ceist:36 Mr. Timmins asked the Minister for the Environment the proposals, if any, he has to amend the Building Societies legislation in view of the remarks made by the Minister for Finance in Dáil Éireann on 11 May 1993.
Michael Noonan
Ceist:41 Mr. Noonan (Limerick East) asked the Minister for the Environment the proposals, if any, he has to amend the Building Societies legislation in view of the remarks made by the Minister for Finance in Dáil Éireann on 11th May 1993.
John Bruton
Ceist:72 Mr. J. Bruton asked the Minister for the Environment the proposals, if any, he has to amend the Building Societies legislation in view of the remarks made by the Minister for Finance in Dáil Éireann on 11th May 1993.
I propose to take Questions Nos. 15, 26, 29, 32, 36, 41, and 72 together.
The Building Societies Act, 1989 consolidated, modernised and considerably extended building society legislation. This Act has been in force for less than four years and has not, as yet, been shown to be found wanting in any respect. I intend, however, to review the position when a report is available on the Central Bank examination of the question of whether the provisions regulating building societies under the 1989 Act could be improved in the light of developments. I will also be taking account of progress made on foot of:
— an undertaking given to me by the Irish Building Societies Association that they are reviewing their operations with a view to introducing a voluntary code of best practice as respects the management of societies; and
— the initiative I have taken to bring about a voluntary code of practice applicable to all mortgage lenders with the aim of enhancing the level of consumer protection for mortgage borrowers.