Oireachtas Joint and Select Committees

Wednesday, 2 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Michael Fingleton:

I ... in the '90s, I contacted the shadow Minister for Finance in relation to getting a change in the legislation. At that time I was seeking a change in the Central Bank Act because, as I said earlier, the Central Bank had the powers, themselves, to effect a change to allow us to effect a trade sale. They didn't need the Government to bring in new legislation to do so and there was a Central Bank Act going through in 1995, I think. And the Opposition - I think the Minister - put in a proposal to change the legislation and it was defeated by the Government on the day.

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