Mairéad Farrell (Galway West, Sinn Fein) | Oireachtas source

Gabhaim buíochas leis na finnéithe as teacht os comhair an choiste to discuss matters with us. First, I want to talk about the Israeli war bonds. In the conversation about Israeli war bonds, one of the big things that is said is that, even if the Central Bank does not approve the prospectus, another member state could do so and the bonds could be sold regardless. I will bring to the witnesses' attention some correspondence I received about the European Securities and Markets Authority, ESMA, and a questions and answers document it has about the prospectus regulation. It says

In ESMA's view, the choice of home member state...should be made only once. As such, except where either of the specific circumstances described in that provision arises - [For example, Brexit was a unique circumstance as Britain had left the EU] a third country issuer's choice of home member state under that provision is definitive.

It is my understanding from that, if the Irish Central Bank refused to approve the prospectus, Israel would not be able to go to another EU member state. Is that the case?