Government publishes Credit Union Bill

The government has published the Credit Union Bill 2012 which deal with the regulation, governance and restructuring of credit unions.

28th September, 2012

The government has published the Credit Union Bill 2012. The Bill gives effect to many of the recommendations of the Final Report of the Commission on Credit Unions, which agreed a consultation role for the Central Bank in regulating credit unions.

The Bill deals with regulation of credit unions, including reserves, liquidity, lending and risk management. It also deals with corporate governance and the restructuring of credit unions through transfers, mergers and amalgamations on a voluntary...

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