Billy Timmins (Wicklow, Fine Gael)

The kernel of the issue, as referred to by Deputy O'Donnell, is when the Minister expects the scheme to be made. That is what we need to know. It is important that the scheme is approved by the House. The fundamental importance of this Bill lies in the scheme but we are like a pig in a poke, giving approval to the Government, without seeing the actual contents of the scheme. It is important that the House sees the detail of the scheme and has an opportunity to amend it, should that be necessary. I do not like the emphasis on the negative — it is possible that 90% of the scheme will be fine but parties in the House might wish, by agreement, to change 10% of it.

I ask the Minister to clarify when the scheme will come into operation. The Bill refers to the scheme being made and "laid before each House of the Oireachtas as soon as may be after it is made". It can then be annulled within the next 21 days. Can the scheme be in operation before it is laid before the House? Can the Government implement the scheme before laying it before the Oireachtas? I ask for clarification on that point.

Section 6(5) contains the phrase "without prejudice to the validity of anything previously done under the scheme". Does that just refer to when the scheme is laid before the House until it is annulled, if it is annulled, or does it refer to when the scheme is actually made by the Government?

I agree with many of the points made by speakers today. I hope the Minister will accept the proposal in amendment No.12 for an oversight board. The remit of such a board should include carrying out an analysis of the errors made by the banks——

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