§ Lord Gallacherasked Her Majesty's Government:
Whether they are satisfied that certain of the provisions of the Credit Union Act 1979 do not now inhibit both the continuance of existing credit unions and the formation of new ones.
The Chancellor of The Duchy of Lancaster and Minister for the Arts (The Earl of Gowrie)The Credit Union Act, like other legislation directed to the protection of investors, places certain obligations and limitations on organisations holding investors' money. It is intended to strike a balance between the need to protect investors and the freedom of management. If the noble Lord is aware of particular problems, perhaps he would write to me.