Oireachtas Joint and Select Committees
Thursday, 7 July 2016
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Single Resolution Board (Loan Facility Agreement) Bill 2016: Committee Stage
11:00 am
Eoghan Murphy (Dublin Bay South, Fine Gael)
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I recall that the Deputy raised this issue during the debate on Second Stage. I have consulted officials to make sure the powers conferred on the Minister in section 2 are not so wide-ranging that they give him scope to increase the amount of €1.815 billion in the loan facility agreement. I can confirm again that there is nothing in section 2, even when linked with the review clause, to give the Minister the power to raise the amount specified in section 3. If there were to be any change to the figure of €1.815 billion, it would require the approval of the Oireachtas, probably in primary legislation. That safeguard is already provided in the legislation we are considering.