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 Paddy BurkePaddy Burke (Fine Gael) | Oireachtas source

If a small restaurant or hotel, for example, is in breach of the guidelines on food safety, it will be closed down until everything is rectified. Would it not be better if it was recommended that a corporate entity, a bank or a banking institution be closed for one week, two weeks or one month, rather than receiving a fine of up to €10 million, which is very little to some of the banks? Would it not be more appropriate to indicate that the entity was going to be closed down in order that everyone would know that a crime or a breach had been committed? When there is a large fine - even if it is €10 million, although I do not think there has yet been such a fine - nobody in the street knows about it, but one would certainly know if one's bank was closed for one or two weeks.

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