Oireachtas Joint and Select Committees

Wednesday, 30 November 2022

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

Under the amendments we have made, in the situation described by the Deputy, for example, where an individual receives a prohibition notice and ends up deciding to appeal that to the High Court, even in that scenario the person concerned can still be suspended from his or her role while that process is playing out. Regarding the time involved, that is going to be a matter for the courts. As we all know, that could be some time. In turn, however, this is why the suspension function is available if there is a serious regulatory issue the Central Bank believes needs to be dealt with.

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