Oireachtas Joint and Select Committees

Tuesday, 1 July 2014

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance

National Treasury Management Agency (Amendment) Bill 2014: Committee Stage

6:15 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I move amendment No. 7:


In page 19, line 15, to delete “Subject to subsection (3), the” and substitute “The”.
I give notice that I will withdraw amendment No. 9 and, therefore, will focus my remarks on amendments Nos. 7 and 8 which are linked. Amendment No. 8 has substance.
The section deals with the appearance of members of the agency before Oireachtas committees. Section 12(6B)(ii) states: "The Chairperson and the Chief Executive shall, at the request in writing of a Committee, attend before it to give account for the general administration of the Agency". I will outline the issue I have with the provision. One of the biggest committees - probably the most powerful - being created is the investment committee. However, the legislation does not allow for its chairperson to come, for example, before the finance committee to outline how it invests funds, how decisions are made and how issues that arise will be dealt with. Limiting the wording of the section to "the Chairperson and the Chief Executive" is too restrictive; it should include the words "or the Chairperson of the investment committee or any other agency committee". The reason I want the provision to be included is to allow a relevant committee to be able to call the chairperson and the chief executive of the agency and the chairperson of whatever other committee may be deemed necessary. As I have mentioned, the investment committee will be very powerful and I want a provision included in the legislation to cover any other committee identified in it or any other committee to be established under it.

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