Brian Lenihan Jnr (Dublin West, Fianna Fail)

The heads of the financial services (deposit guarantee scheme) Bill were approved by Cabinet this week and it will be published in a matter of weeks. The delay in regard to the publication of this legislation was occasioned by the fact the EU decided to draw up a directive in this area and we had to revise the Bill in light of our obligations under the directive.

The draft heads of the financial services (miscellaneous provisions) Bill, which transfers responsibility for building societies from the Minister for the Environment, Heritage and Local Government to the Minister for Finance, are near completion and it is expected to be published this year.

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