Eoghan Murphy (Dublin Bay South, Fine Gael)
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I do not disagree that we need to keep it under review. When one implements any such change in taxation, it is important that the Oireachtas does its detailed legislative work and gets to grips with the area, as Deputies Pearse Doherty and Donnelly said. There is an onus on the Oireachtas to review the changes as they happen. I am not sure to what extent we could measure the effectiveness of the amendment within six months. I am not sure what information would be available and what we could extrapolate from it. Somebody might have registered a new ICAV with the Central Bank and there might be marketing information on a legal firm’s website suggesting a particular action. However, until we see accounts we would not be able to identify a causal relationship between our legislation and certain results, and the extent of it. This is the danger of wiring the amendment into the legislation as it is.