Oireachtas Joint and Select Committees
Thursday, 11 May 2017
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014 [Private Members]: Committee Stage
9:30 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
I move amendment No. 1:
In page 3, line 31, to delete all words from and including “deleting” and in page 4, to delete lines 1 and 2 and substitute “adding the word “undue” between the words “without” and “regard” ”.
This section seeks to strike a balance between the appropriate nature of the ombudsman's office and the legal realities of the world we live in. The original wording of the Bill sought a large change by deleting the words "in an informal manner" and "without regard to technicality and legal form". My amendment today attempts to refine this approach by simply adding the word "undue" in order that the Financial Services Ombudsman will act "without undue regard to technicality and legal form". The key here is that while the office must be approachable, it must be correct in its duties. I am confident that the amendment strikes the right balance. I note that this proposal is also to be found in the Government's newly-published Bill. We had quite an extensive discussion on this during the pre-legislative scrutiny. This amendment arises from that discussion.
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