Michael McGrath (Cork South Central, Fianna Fail)
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I welcome the witnesses and thank them both for the submissions and opening statements on this Bill.

I will start with the issue of the CCMA and its non-statutory basis, to which both have referred. Can they clarify that for me? Early on, the CCMA states, "This Code is issued under Section 117 of the Central Bank Act 1989." Can they explain why it is not statutory? The Central Bank disputes that. The Minister certainly disputes that. The Minister states it has a statutory basis. Does that not mean it is statutory? Can they take us through that? I do not mind who takes the question. This issue is knocking around for a while.