Brian Cowen (Laois-Offaly, Fianna Fail)

I always knew Deputy Bruton was amused by important documentation.

Regarding the issue raised by Deputy O'Donnell on non-deposit taking lenders, it is important to point out that they do not hold deposits taken from the public. The question of prudential regulation, therefore, does not arise in that respect. We are regulating their dealings with their customers and, as I set out in my opening remarks, by introducing a new section 19 we are requiring them to be brought within the Financial Regulator's authorisation and ongoing supervisory regime through an amendment to Part V of the Central Bank Act.

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