Richard Bruton (Dublin North Central, Fine Gael) | Oireachtas source

It is not my intention to publish regulations before the Bill completes its passage through the Oireachtas. After it is dealt with by this House, we must allow for the possibility of amendments being made by the Seanad. Any draft set of regulations must reflect the primary legislation. That, after all, is the function of regulations.

As I said, we are making provision to allow us to govern payment periods. My issue with what is proposed in these amendments is the inflexibility of including such provision in primary legislation. There already is improved legislation in this field. Under the EU directive, for example, there is penalty interest and the ability to charge for recovery where it is necessary to pursue such recovery in the courts. The regulations will provide an additional enforceability in the sense that whatever we put into them will be overseen by the Commission, which will have a role in ensuring this approach is honoured in practice as well as in the contract terms.

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