Colm Brophy (Dublin South West, Fine Gael) | Oireachtas source

My understanding is that this is coming in under a harmonisation proposal in the markets area. So effectively, if we put a proposal, even if we deem it an enhancement in Irish legislation, either further in or as it exists at the present, it could be open to challenge that, effectively under the markets area, we were putting an impediment to the harmonisation process across the markets. Therefore it could be found to be illegal because it would be a barrier to market or a differentiation between the markets and that is why it is critical that we could get this kickback on our own legislation out of this, primarily because of who is originating this. One of the key things in Europe is to watch where it comes from as much as what it says, because of how it will be interpreted if it ever goes to the court.