Dáil debates

Thursday, 13 June 2013

Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages

 

12:40 pm

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

I thank the Minister of State for his engagement here on Report Stage and the Minister for his engagement on Committee Stage. There is no doubt that the Minister listened to the concerns of the committee. This is probably the most engaging Bill we have seen where the views of the Opposition such as Deputy Michael McGrath's Private Members' Bills and all bar one of the amendments and suggestions I put forward have been incorporated into the Bill. Hopefully, it will make the legislation more thorough. While all legislation is kept under review, this Bill needs to be formally reviewed on an ongoing basis because we know these institutions try to move ahead of the regulatory process. I would encourage officials to have formal reviews. I am not sure of the timeframe. I commend the officials. I know it has taken a long time to get this passed but at least it will be passed and we will, hopefully, have better regulation as a result.

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