Dáil debates
Wednesday, 28 April 2010
Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: From the Seanad
Charles Flanagan (Laois-Offaly, Fine Gael)
I do not have a problem with the amendment but I am unsure why the Minister does not leave it as it was on the basis that it was broadened. We made changes on Committee Stage to deal with a broadening of certain categories. Now it is intended to exempt certain intermediaries. Why have a specific exemption? If the non-life insurance people were not directly affected, then they would remain silent to any obligation under the act. As the Minister correctly stated, it would not apply to them because they are not engaged in the business. Why is there a need or requirement to introduce an exemption for non-life insurance intermediaries having regard to what the Minister has stated about the broadening of the categories since the Bill was first introduced?
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