Vol. 551 No. 2
106 Mr. R. Bruton asked the Tánaiste and Minister for Enterprise, Trade and Employment her plans to introduce new limits on deposits and lending for friendly societies; and when the new regulations will be laid before the Dáil. [10162/02]
The draft regulations increasing the statutory financial limits on deposits with, and loans by, Specially Authorised Loan Societies were sent to the Office of the Attorney General for settling in September 2001. Under the provisions of the Friendly Societies (Amendment) Act, 1977, each House of the Oireachtas must pass a resolution approving the regulations in draft form.
I received the settled draft regulations from the Office of the Parliamentary Counsel last week. The draft regulations were laid before each House of the Oireachtas earlier this week. I hope the necessary resolution will be passed by each House before the Easter recess.
When both Houses pass the resolution, I intend to sign the regulations bringing the increased limits into effect.
