Pearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

On section 5, I want it noted that I am uncomfortable with the extension of the five-year period. While the Central Bank, through the Minister of State’s amendment which I welcome, is allowed to revoke or refuse a licence midstream, I encourage it to apply this provision where this has happened. I have made the point before that I accompanied whistleblowers to the Central Bank which led to quite a significant fine - a six-figure sum - against Provident Personal Credit for practices in which it was involved in my constituency. The company never lost its licence. The Central Bank has to be feared, particularly when we are moving from a one-year licensing regime to a five-year regime.