Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Sean Fleming TD has today (Wednesday) welcomed Government approval for an extension of the timeline to allow credit unions to hold their 2020 Annual General Meetings virtually to the end of June 2021.
The Finance (Miscellaneous Provisions) Act 2020, signed into law last December extended the timeline for credit unions to hold their 2020 Annual General Meetings to end of April 2021. It also allowed for a temporary override of credit unions rules and allows for all general meetings to be convened virtually.
The Credit Union Act 1997 (Section 3A) Order 2021 now provides for an extension of the ‘interim period’ for a further two months until the end of June 2021.
Minister Fleming, noted: “Credit unions are member owned not for profit cooperatives and members must continue to receive timely information on their credit union’s financial position. It’s important that general meetings can continue to proceed in a manner that is in line with legislative provisions, while adhering to public health guidelines. This Order extends the ‘interim period’ for a further two months until end of June 2021.”