Credit Union (Amendment) Bill 2019

Public bill · Private Member · Introduced

Creates an independent appeals route for credit unions and groups of credit unions to challenge Central Bank regulatory decisions. It would remove the existing limits on what credit union decisions can be appealed, set up a Credit Union Appeals Committee to handle those cases, and allow the Minister for Finance to make any needed regulations. It matters because it gives credit unions a clearer way to contest decisions that affect how they are supervised and run.

Formal long title

Bill entitled an Act to amend the Credit Union and Co-operation with Overseas Regulators Act 2012 to make provision for the establishment of an independent appeals mechanism to enable Credit Unions to appeal decisions of the Central Bank on regulatory decisions and to provide for related matters.

Last updated 13 February 2020