Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

It is important to be clear. On the question of powers, we have gone through the 2013 issue, aside from the 2013 Act is it the case that the Central Bank already had the powers and retained the powers to do an enforcement investigation outside of the 2013 Act? Is it the case that the administrative sanctions procedures are available outside the 2013 Act so the bank has the power to go into banks, do investigations outside of that Act but what it did not have was the power to impose redress?