Mr. Brendan Burgess:

I would like the entire Bill to be passed. There might be some minor issues. It states: "In setting a variable interest rate for a group, class or category...". I would delete the word "variable". In setting a rate, whether it is fixed or variable, I do not wish to see just good variable rates, but long-term fixed rates as well. I would certainly feed in some things such as that. On section 7 on the prohibition of discrimination against existing customers, I do not know if anybody is arguing with that or if it must be checked with the ECB. I do not know if there could be a constitutional challenge to it. Is there any way to get that through as an emergency measure and then let us see the arguments in the Supreme Court about the constitutionality of the other provisions and whether the Central Bank wishes to approve it? That alone, and there are only approximately 20 words in the section, would be a huge help to many people and it would answer many of the points the Central Bank and the Minister make with regard to competition affecting all customers. That would mean the competition would be helped. That is one point.

I had not thought of the appeals process until Senator O'Donnell raised it. There is probably a natural justice issue but I do not know enough about the area to know whether it is standard in legislation. I certainly would not object to it in any way. If Senator O'Donnell thinks it is a good idea, it probably is.