Dáil Éireann díospóireacht -
Tuesday, 22 Oct 1996

Vol. 470 No. 4

Written Answers. - Proposed Credit Union Legislation.

Noel Treacy

Ceist:

18 Mr. N. Treacy asked the Minister for Enterprise and employment the reason a draft Credit Union Bill has been with the Office of the Attorney General for over two-and-a-half years; if the Government has cleared the heads of this Bill; if so, when; the date on which the Bill went to the parliamentary draftsman; whether the Government intends to proceed with the Bill; if so, the date on which it will be published; and if he will make a statement on the matter. [16720/96]

Eric J. Byrne

Ceist:

26 Mr. E. Byrne asked the Minister for Enterprise and Employment the progress, if any, made regarding the review of Credit Union legislation; and if he will make a statement on the matter. [19208/96]

Eamon Walsh

Ceist:

260 Mr. E. Walsh asked the Minister for Enterprise and Employment when the Credit Union Bill will be presented; whether the Bill will be presented before Christmas 1996; and if he will make a statement on the matter. [19527/96]

Michael Bell

Ceist:

261 Mr. Bell asked the Minister for Enterprise and Employment when the Credit Union Bill will be presented; whether the Bill will be presented before Christmas 1996; and if he will make a statement on the matter. [19528/96]

Minister for Enterprise and Employment (Mr. R. Bruton)

I propose to take Questions Nos. 18, 26, 260 and 261 together.

Proposals for the updating and consolidation of the body of legislation dealing with credit unions, which dates in some cases from 1893, are well advanced. The heads of the Bill were cleared by the Government on 22 March 1994 and were sent to the Attorney General's Office three days later. The scope of the Bill has necessarily required detailed attention on the part of both my Department and the Attorney General's Office. However, I am pleased to say that on arrival in office, I was able to persuade both my colleagues in the Department and in Government that the Credit Union Bill should be given priority status. As a result, I am pleased that a first draft of the Bill, which involves up to 200 sections, has recently been received from the parliamentary draftsman, and it is at present being examined in detail by the Minister concerned, the Minister with responsibility for Commerce, Science and Technology, and the Registrar of Friendly Societies, who has overall responsibility for the regulation and supervision of credit unions. The text of the Bill will be finalised in consultation with the parliamentary draftsman in the coming weeks, after which Government approval to publish the Bill will be sought.

The purpose of the Bill is to consolidate existing credit union legislation and to provide an updated framework for the development and regulation of the credit union movement. While safeguarding the ethical principles to which the movement is dedicated, the Bill will provide for the development of the range of services which credit unions may offer to their members. As a complementary measure, the supervisory powers of the Registrar of Friendly Societies are also being expanded. Although the Credit Union Bill is the Department's priority for legislative action and while I am not able to give a precise date for publication at present, I assure Deputies that every effort is being made to have the Bill published during the current Dáil session.