Pearse Doherty (Donegal, Sinn Fein)
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I am happy to accept amendments Nos. 1, 2 and 4. In accepting amendment No. 2, which brings the definition in line with the definition in the Financial Services and Pensions Ombudsman Act 2017, I am considering whether a broader definition of small and medium-sized enterprises, SMEs, would be appropriate for the purposes of the Bill. The Law Reform Commission examined this issue and concluded that the approach taken in the Financial Services and Pensions Ombudsman Act 2017, which was in the original legislation and is included in the Minister of State's amendment, is the appropriate one. I am aware of submissions from businesses seeking that all SMEs be included. I am also aware that Insurance Ireland wants to exclude all businesses. While I disagree with Insurance Ireland's approach, consideration is needed of whether to include all SMEs in the definition at European level. I will consider this matter further before Report Stage.