Dáil debates

Tuesday, 8 July 2014

National Treasury Management Agency (Amendment) Bill 2014: Report Stage

 

7:35 pm

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I support the previous speakers on this point. Essentially, the legislation stipulates that the chairperson and chief executive can choose the topics in respect of which he or she will engage with Oireachtas committees. That is simply unacceptable. The inclusion of issues that may at a future time be the subject of proceedings before a court or tribunal virtually covers everything. Especially with the commercial mandate being given under the investment fund, there will be many vested interests which will threaten legal action over any decision for a prolonged period. Virtually every decision of a commercial nature could well come before a court at some point. It is completely unacceptable to have all such decisions beyond the scope of an Oireachtas committee. It unnecessarily limits the scope of committees in probing various subjects. Our parliamentary committees comprise one of the few areas in which we have democratic accountability outside this Chamber. It should be protected in every respect. The legislation is unnecessarily broad and could significantly impede the work of Oireachtas committees.

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