Eoghan Murphy (Dublin Bay South, Fine Gael)
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I appreciate the Deputy's view that €10 million might be low, but actually it is higher than the amount being implemented in other EU countries. We can go higher if it is an administrative sanction. In such an instance it can be as high as €15 million, or 15% of the total annual turnover of the legal person according to the last available accounts it provided approved by the management body. This is higher than €10 million, and 15% could be higher still. The questions of whether €10 million is the appropriate amount, whether ten years is an appropriate term or whether this term would ever even be invoked are worth pursuing as a discussion. We have gone with €10 million, which is a higher figure than in other EU countries, and €15 million or 15% will apply if it is an administrative section.