Pearse Doherty (Donegal, Sinn Fein)
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I welcome the witnesses and thank them for their publication on this issue and their numerous other pieces of work. Mr. Byrne mentioned the Consumer Insurance Contracts Bill 2017, which I have sponsored. This simple Bill, which was drafted by the Law Reform Commission, only requires a number of tweaks so that it can be updated on foot of relevant legislation that has been passed since it was published. I hope it will progress through the committee at a future point.

I would like to ask Mr. Byrne about the commission's approach to some of the matters he has raised. I have brought legislation on reckless lending before the Houses of the Oireachtas. The commission considers that an amendment to the Criminal Justice (Theft and Fraud Offences) Act 2001, as opposed to the introduction of a stand-alone offence of reckless lending, would be sufficient. Although I have listened to what Mr. Byrne has said, I do not understand the approach that is being taken. I ask him to explain to me whether there needs to be a victim. If the offence the commission is suggesting were to be introduced by means of an amendment to the theft and fraud Act, would there need to be a victim? Can Mr. Byrne explain why the commission is not in favour of what has been done in Britain and Australia and what has been suggested by the former Governor of the Central Bank? I refer to the proposal to make reckless lending in itself an offence, as opposed to making an amendment to the Criminal Justice (Theft and Fraud Offences) Act 2001. That is my first question.