Oireachtas Joint and Select Committees

Tuesday, 2 April 2019

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

Business of Joint Committee
No Consent, No Sale Bill 2019: Discussion

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

I welcome our guests to the session. When the Central Bank appeared before the committee last week, I outlined that the intention behind the Bill is not to affect the access to liquidity, passive securitisation or access to ECB collateral, and that will be easily addressed on Committee Stage. I would be surprised if other members had different opinions but that is up to them and the Bill is now the committee's Bill. On ensuring that those areas were exempt, the thrust of the Bill relates to the direct sale of a loan to a vulture fund. Financial stability was mentioned, but to what extent would that address the issue if those areas were exempt?

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