Dáil debates

Wednesday, 28 January 2015

Irish Collective Asset-management Vehicles Bill 2014: Report Stage

 

3:30 pm

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

I thank the Minister and his officials. It seems we have been dealing with this legislation for quite a while, particularly on Committee Stage where we had a good discussion on the intentions of the Bill. I outlined concerns on Second Stage about what we are trying to chase here, although it is disputed by the Minister in terms of chasing other countries and so on. Obviously, we hope things work out to the betterment but the key point in all this legislation is that we need to keep it under review. I am critical of legislation that we pass and then decide to come back to when it is outdated, not fit for purpose or has a consequence that was not intended at the time of its passage. While the Bill has not yet been enacted that is something that must be built into the legislation in terms of regular review.

I was hoping the Minister might give us a heads up as to when we can expect the mortgage legislation to come before the House. Does he have any indication? We understand it will be in the coming days. If he could impart his wisdom to the House, it would be welcome at this point in time to help myself and Deputy McGrath as we are bogged down with the banking inquiry and other matters. It would help our own agendas.

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