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 Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

We are focused on the quantum of money and how sections 2 and 3 interact. Obviously, there is a bigger issue which goes beyond the amount of money that could be paid by the State from the Central Fund. This relates to whether any of the other articles in the agreement could be reviewed or amended without prior notice or the consent of the Oireachtas. If we take the word of the Minister of State that section 3 trumps section 2 in terms of the quantum of money laid out, this was supported on Second Stage by the Oireachtas on the basis it is tied to an agreement. We have an agreement containing 22 articles and we know what the money is for. A number of the articles state that any part of the agreement can be reviewed with the consent of the other member states. Will the Minister of State clarify whether any review of the conditions of paying this money, which is what the agreement is, would require the consent of the Oireachtas? Is it just at the discretion of the Minister?

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