The Fitness and Probity regime for credit unions has been implemented in two phases. The second phase commenced on 1 August 2015, bringing credit unions with total assets of €10 million or less within the scope of the regime. The Central Bank has published a guidance document in respect of Credit Unions with total assets of €10 million or less. The guidance document sets out how a credit union can notify the Central Bank of the individuals who were in situ in PCF roles as at 1 August 2015 and how the Credit Union can confirm that the required due diligence has been undertaken (i.e. the PCF In Situ Return)