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
- Minister for Finance Primary
- First StageDáil
- Second StageDáil
- Committee StageDáil
- Report StageDáil
- Fifth StageDáil
- Second StageSeanad
- Committee StageSeanad
- Report StageSeanad
- Fifth StageSeanad Enacted
- EnactedEnacted
- 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