Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

I move amendment No. 1:

In page 5, to delete lines 23 to 35 and substitute the following: “3.Section 2 of the Principal Act is amended, in subsection (1)—

(a) in the definition of “officer”, in paragraph (a), by the insertion of “a member of the appellate body referred to in section 37,” after “a member of the board oversight committee,”,

(b) by the insertion of the following definitions:

“ ‘Act of 2014’ means the Companies Act 2014;”.

The amendment, as the Leas-Chathaoirleach said, is grouped with all of the amendments in group 1. The grouping addresses the following issues collectively: expanding the definition of an officer of a credit union to include a member of the appellate body, which is referred to in section 37; changes to the functions of the board to remove some of the administrative and operational tasks from the board to allow it to focus on strategic planning and development; technical amendments to clarify and tighten the language of the Credit Union Act in relation to the following areas - the board structure, make-up and governance of credit unions and corporate credit unions, reporting to the credit committee, some modernisation of the language of the Credit Union Act, election of the board oversight committee, the eligibility of a CEO to be appointed to the board of directors, reporting rule changes to the Central Bank, compliance reporting to the Central Bank, decisions made by the board in relation to some additional services, the make-up of the nomination committee and the functioning of a corporate credit union.