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 Gerald NashGerald Nash (Louth, Labour)
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What Deputy Doherty is saying is interesting. It is a live possibility that something like that could happen. In theory, the section allows for that and it could therefore happen in practice. If there is the potential for these kinds of situations to arise where there is suspicion of contraventions, where full hearings do not take place, and these issues are then resolved, how might this be recorded by the Central Bank? This would be an important reform regarding the consideration of the operation of the legislation. Does the Minister have a view on how that would be recorded and reported? Would it be done in the Central Bank annual review or annual report on the application or operation of the regime? How would that happen? It is standard that it would be recorded and reported in any case, although it may be anonymised because it would not have met the bar for an investigation.