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

This is one of the big problems with the legislation. The Bill provides the Minister with certain functions if, following consultation with the Central Bank, he or she is of the opinion the performance of the functions so provided is necessary in the public interest for either or both purposes. There are only two purposes for directed investment, namely, to remedy a serious disturbance in the economy of the State, or to prevent potential serious damage to the financial system of the State to ensure continued stability of the system. How we will define a "serious disturbance in the economy of the State"? Is the housing crisis a serious disturbance in the economy of the State? What is a serious disturbance? The Minister of State's definition of a "serious disturbance" could be very different to mine. The other purpose is to bail out the banks again. I have huge concern about this.

Can limits on direct investment be placed on the fund?