Simon Harris (Wicklow, Fine Gael)
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As the Deputy acknowledged, the issue is probably broader than just this legislation. As the Deputy recalls me saying on Second Stage, I am eager with this Bill to show that where the Companies Bill provisions are appropriate for the Irish collective asset management vehicle, ICAV, we are mirroring them in full. The ICAV has certain additional levels of safe checks in that there must be a depository to keep assets safe. With our regulatory structures in general, as I have seen in my new role with the Irish Financial Services Centre, etc., the regulations are - correctly - more robust than they have been. I am quite satisfied there has been a substantial body of work done there and at a European level. If the Deputy has thoughts on the issue, I would welcome them on Report Stage. I see what he is trying to do but I am trying to keep this legislation consistent with the Companies Bill.