The Credit Union Restructuring Board (Dissolution) Act 2020, designated as No. 22, enacts the dissolution of the Credit Union Restructuring Board (ReBo). Established in the wake of the financial crisis, ReBo’s mandate was to facilitate voluntary restructuring within the credit union sector. With its objectives, including the support of mergers and enhanced governance, successfully achieved by 2019, the Act provides a formal mechanism for winding up operations, managing records, and settling any outstanding liabilities.

Under this Act, the Minister assumes authority for overseeing the administrative processes related to the dissolution, including asset disposal and matters concerning staff. Regulatory oversight is reverted to the Central Bank of Ireland, which maintains its pivotal role in prudential supervision. The dissolution signifies a notable stabilisation of the credit union sector, now more robust and consolidated, while eliminating an unnecessary statutory body and streamlining the oversight framework.