Oireachtas Joint and Select Committees
Wednesday, 3 November 2021
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Central Bank (Individual Accountability Framework) Bill 2021: Central Bank
Mr. Gerry Cross:
I wish to answer the Deputy’s question on timelines. Obviously, the legislation needs to pass through these Houses, and we await that, but we are keen to have it in place without further delay, not only because of the value of having the regime in place but also because of the momentum that now exists. We propose to have our draft regulations and guidance ready for consultation. We need to consult because this is important stuff. It is important that we engage as we should with stakeholders on what we propose to introduce. We will have the drafts ready to go shortly after the legislation is ready. We will then move quickly to get the consultation done, take on board any responses we get and begin implementation. We are moving fast.