Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I am open to having a discussion on this issue, as it is important to have flexibility. As discussed on Second Stage, we are introducing this system to catch up with our competitors. If we were to introduce a system that did not offer the same flexibility as our competitors, one wonders what would be the purpose in introducing it. The legislation also provides that the Central Bank can impose whatever set of standards and regulations it wants above and beyond it. Between the true and fair test, the Central Bank having the ability to add additional layers, requirements and standards and the issues we have raised in the amendments, we are looking at the issue in a comprehensive manner. It is, however, the Deputy's prerogative to table amendments on Report Stage. If he does, I will be willing to consider them and engage with him on them.