Arthur Morgan (Louth, Sinn Fein)

I support Deputy Varadkar's amendment. I understand that people in public life are in a glasshouse for all of their time in public life at least, if not well beyond it. It is unfortunate that in some cases, family members of public representatives happen to be in that category. I have instanced a case in the past where, for example, the son of a former Minister for Justice made headlines in a way that was grossly unfair and unreasonable to both the child and the former Minister. I can understand some of the Minister's point on protecting people in that category who happen to work in a bank.

The difficulty is that coming off the back of recent experience in the banking sector, we have seen Anglo Irish Bank and a network of others prepared to weave a carpet of deceit and deception. We are told no rules or laws were broken and nobody has been charged or put in jail. That has left a very bad taste in everybody's mouth. The only solution is for the Minister of State to accept Deputy Varadkar's amendment and come back to review it in three, four or five years time, after a proper regulatory regime has been put in place and when it has begun to engender some trust in the public. That is the best way to handle this in a way acceptable to all of us.

I am a director of an enterprise which is on the Members' register for all to see. I understand the point made by Deputy Penrose on having some care in the matter of administrative burden. I hope I am not going against Deputy Varadkar in this as that is not my intention. This burden carries a significant cost and there is a bureaucratic process that brings about much hardship on businesses right across this land. This comes at a significant price to those businesses, particularly the smaller and medium-sized businesses that can ill afford it not just at this time but at any time.

The balance is to protect not just workers but other businesses associated with the companies in question, which are trading and dealing with them. It is most important that those people have protection as well. I acknowledge the concern of Deputy Penrose and the Labour Party in that regard. I support the amendment and I would like to see the Government accepting it with an undertaking to review it in a few years.

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