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Enacted Dáil
No. 82 of 2012

Credit Union and Co-operation with Overseas Regulators Bill 2012

Public bill · Government · Presented

The measure would strengthen credit union safeguards by giving the Central Bank greater control over savings, borrowing, lending, reserves, liquidity and risk management, while requiring clearer separation between boards, managers and oversight committees. It would also create a restructuring body and fund, financed partly through credit union levies, to support mergers or transfers and provide temporary assistance to viable credit unions facing reserve shortfalls.

Formal long title

Bill entitled an Act to amend certain provisions of the Credit Union Acts 1997 and 2001, in particular, to amend the prudential requirements for credit unions, to change the governance requirements for credit unions by removing certain management functions from boards of directors of credit unions and providing for a separate management structure and to improve the oversight and general policy functions of such boards of directors; to provide for the restructuring of credit unions and for stabilisation support to credit unions, to provide for a fund to be known as the Credit Union Fund for the purposes of such restructuring and stabilisation and to provide for levies in respect of that fund; to amend certain provisions of the Central Bank Act 1942, to provide for miscellaneous matters relating to credit unions and to provide for related matters

Last updated 16 April 2018

Sponsor
  • Minister for Finance Primary
Progress
  • First Stage
    Dáil
  • Second Stage
    Dáil
  • Committee Stage
    Dáil
  • Report Stage
    Dáil
  • Fifth Stage
    Dáil
  • Second Stage
    Seanad
  • Committee Stage
    Seanad
  • Report Stage
    Seanad
  • Fifth Stage
    Seanad Enacted
  • Enacted
    Enacted
Debates
  • Credit Union Bill 2012: From the Seanad
    Dáil
  • Credit Union Bill 2012: Report and Final Stages
    Seanad
  • Credit Union Bill 2012: Committee Stage
    Seanad
  • Credit Union Bill 2012: Second Stage
    Seanad
  • Credit Union Bill 2012: Committee Stage
    Select Sub-Committee on Finance

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