On Oct. 4, IRE GVT issued amendments to the law on credit unions.
IRE GVT published the Credit union act 1997 (regulatory requirements) (amendment) regulations 2024 (StIn 496/2024) which makes amendments to the Creditunion act 1997 (regulatory requirements) regulations 2016 (StIn 1/2016), signed on Sep. 30.
Definition of member inserted under reg 2 as well as amendments to reg 43 on the board of director's borrowing policy review and reg 46(2) on policies and procedures.
Nov. 2024 Second Amendment
On Nov. 26, 2024, IRE GVT issued Credit union act 1997 (regulatory requirements) (amendment) (no. 2) regulations 2024 (StIn 655/2024), commence on Jan. 1, 2025.
Amendments made to regulation 2 with the insertion of new definitions; regulation 48 on performing services is amended; paragraphs 1 to 22 of Schedule 2 on telephone, internet and fax access to the credit union by the member have been amended.
