Richard Bruton (Dublin North Central, Fine Gael)

I thank the Minister for his assurances and as I have not been able to tread my way through all the sections I will have to take his words in good faith. The bodies to which the Minister refers have three months to apply for authorisation. Is there any time limit for the Financial Regulator to make a decision either to grant or refuse authorisation? There should be a maximum time limit by which decisions will be made. The Minister seems to be suggesting that firms must apply within three months and wait for a decision but there should be a time limit on the Financial Regulator to make a decision.

See this speech in context