Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I welcome the fact that we have reached Committee Stage on Deputy Michael McGrath's Bill. While I acknowledge that there has been a rewriting of the Bill, it appears to still meet the intended purpose of regulating the owners. Maybe we will deal with that in more detail as we proceed. I introduced a similar piece of legislation in the Dáil as well and I am happy to support the concept of this Bill.

I would like either the Department or Deputy Michael McGrath to give me their understanding of the difference between regulating the retail credit firm and regulating the credit agreement owner. What is the difference, particularly that the Central Bank has indicated to the Department?