Kathryn Reilly (Sinn Fein) | Oireachtas source

I move amendment No. 9:

In page 10, to delete lines 38 and 39 and substitute the following:“(4) The Minister may not dispose of any shares in the SBCI without the approval of the Houses of the Oireachtas.”.

My amendment is straightforward. It aims to strengthen the role of the Oireachtas in holding the Minister to account and means the relevant Minister would have to get the permission of the Oireachtas before selling off the SBCI. The body has the potential to be very important. As a lot of taxpayers' money would be involved, the least we can expect is a full debate before the SBCI could ever be disposed of. We think it should be kept in public hands and developed into a permanent asset that we hope will return profits to the people each year.
The last thing we would like to see happen is for the Government to invest in the body, build it up, do all the hard work, put in the legwork and then sell it to the banks that failed us in the first place. My amendment is straightforward and seeks Oireachtas accountability or, at the very least, consultation with the Oireachtas before any potential sale could happen.