Michael D'Arcy (Fine Gael) | Oireachtas source

In his submission this afternoon Mr. Carswell stated:

At one point the Department of Finance was described by one of its own officials as being "under siege" in the lobbying campaign by the financial industry. The aim was to get legislation passed to allow the banks to issue bonds backed by commercial mortgages. The financial sector won out. The legislation was passed in early 2007, right at the peak of the property boom, making it easier for banks to borrow more money to provide more loans to more customers.

Is that legislation the Asset Covered Securities (Amendment) Act, No. 13 of 2007?