Dermot Ahern (Louth, Fianna Fail)

I thank the Deputies for their remarks and for their positive contributions. Some were not so positive, in that people were complaining about the delay in introducing the legislation, with the implicit suggestion that we did not have this type of legislation on the Statute Book already. We have very robust legislation. This Bill is attempting to transpose the latest and most modern legislation encapsulated in the EU directive.

It is a significant legislative proposal. I agree with all the comments made by Deputies as regards the whole issue of laundering, generally, particularly money laundering. We must have ever-tighter controls because of the globalisation of financial transactions around the world.

A number of Deputies mentioned the delay in bringing forward the legislation. Deputy Charles Flanagan has castigated us on the basis that the UK brought it forward sooner. The UK brought it forward by regulation, not by primary legislation. The Deputy would complain if we brought in something of this import by regulation. Given that it was primary legislation, we had to interact with the practitioners, the various designated bodies and, obviously, that took up considerable time.

A number of Deputes wanted to know why gaming clubs were involved. As the House knows, I have been looking at the whole issue of gaming and we have a number of substantial reports. These private members' clubs are locations where large amounts of money could be put through, and it is only right and proper that they should be among the designated bodies, and regulated. As regards the type of facilities to be regulated under the legislation, there is of course the wider issue of gaming and gambling to be considered. This will be done in other legislation, but given that this Bill was coming to its final throes of publication, I believed we should take the opportunity to include the private gaming clubs in that respect.

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