Oireachtas Joint and Select Committees

Thursday, 7 July 2016

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage

11:00 am

Photo of Eoghan MurphyEoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I know that the Deputy also made this connection on Second Stage. It is not a question of a feeling; section 3 does trump section 2 in that the amount cannot be raised. If there were a need to increase the amount, in so far as the review is concerned or in any other situation, it would require Oireachtas approval and, more than likely, primary legislation.

Deputy Pearse Doherty has tabled amendment No. 5 to a later section, which attempts to include an additional layer of protection or a fail-safe mechanism in the legislation. We can debate it now if it is appropriate, but I am not sure whether we can jump to a later amendment at this point. Section 3 trumps section 2 and we can look at the fail-safe mechanism proposed by the Deputy when we reach amendment No. 5 if that is convenient.

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