Oireachtas Joint and Select Committees

Tuesday, 26 February 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Law Reform Commission Report on Regulatory Powers and Corporate Offences: Engagement

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

What the Law Reform Commission is proposing is a lot weaker than what the Central Bank is proposing. Would that not be the case? The Central Bank made a submission to the Law Reform Commission. The Central Bank then through the scandal with the tracker mortgages outlined in terms of its senior management how individuals could be brought to account, basically mirroring what is already in place and in law in Britain for the last two to three years, where they would have to map out the areas of responsibilities they have. They would no longer be allowed to rely on the defence that they were not aware of conduct that happened under their chain of command. The Law Reform Commission appears to be going for a much weaker version of individual accountability. Would I be correct or incorrect in saying that?

Comments

No comments

Log in or join to post a public comment.