Ruairi Quinn (Dublin South East, Labour)

I do not mean to make an issue about this. Our interests are shared on this matter. I can see the practicalities if all of these operations are on the other side of the Atlantic. One would not necessarily expect the Minister or the Department to have the expertise. I suggest this after the financial turbulence we have had and the difficulties we have had with very reputable firms. This is no reflection on the US-Ireland Alliance; I am talking about the financial sector and its credibility across the world. The Minister of State could consider my amendment and may decide that the auditors should be appointed by the fund manager with the agreement of the Minister. This legislation has taken long enough and the Minister of State is big enough to work out what I am trying to get at. A rose by any other name would smell as sweet. I will outline my concern about this provision in order that the Minister of State may realise my motivation for tabling this amendment. The work will start now for the alliance to seek matching funds. Those matching funds will be donated by people who will seek these types of safeguards in one shape, size or form, particularly if they take up Deputy Perry's suggestion to pursue Irish-based companies operating in the United State. Those people may very well want that level of comfort. I offer this amendment as a constructive suggestion, but I will not press it.

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