Seán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

I acknowledge the principle of the amendment but we are discussing the actions of an unregulated organisation. The Central Bank has enough difficulties supervising the institutions that are currently regulated. How can it possibly know what is going on in bodies that it does not regulate? If the Minister of State can assure us that a division within the Financial Regulator's office is dealing with organisations that are not regulated, I would love to hear about that division. The purpose of this amendment is to deal with unregulated bodies but he has acknowledged that if an unregulated organisation owns the loan book, it will not come within the remit of the Financial Regulator. How will the regulator know what is happening in these organisations, never mind issuing a class A fine or a term sentence?