Oireachtas Joint and Select Committees
Tuesday, 27 February 2024
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
General Scheme of the Access to Cash Bill 2024: Discussion
Mr. John Palmer:
Precisely. There are only a few CIT companies. It is a very concentrated market. They are actually regulated but, primarily for security reasons, by the Private Security Authority and not by the Central Bank. It is likewise with the independent ATM deployers, IADs, which are also not regulated by the Central Bank. Basically, regarding the whole situation, going back to access to cash, the criteria and how the whole system will operate, one of the key reasons it is necessary to regulate these entities, especially the independent ATM deployers, is simply for reporting purposes so the Central Bank can be in a position to judge whether the criteria in this regard are being complied with.
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