Oireachtas Joint and Select Committees

Wednesday, 7 December 2022

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed)

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
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While I have been answering the Deputy's question, my colleagues have accessed the original piece of legislation which lays out the powers that he is understandably raising with me. The Central Bank Act 1942, under section 33BA, refers to the power and I will quote it at length to deal with the concern that the Deputy raised. It states:

... the [Bank] may, in writing -

(a) summons a person to appear before the inquiry to give evidence, to produce specified documents, or to do both, and

(b) require the person to attend from day to day unless excused, or released from further attendance, by [the Bank].

Therefore, in the Central Bank Act 1942, under section 33BA, that power is there. Under subsection (4)

The person presiding at an inquiry—

(a) may require a witness at the inquiry to answer a question put to the witness, and

(b) may require a person appearing at the inquiry in accordance with a summons issued under this section to produce a document specified in the summons.