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

I move amendment No. 44:

In page 41, between lines 35 and 36, to insert the following:“Losses forward for financial institutions

25.The Minister shall within six months of the passing of this Act, prepare and lay before the Oireachtas a report on the potential impacts of restricting loss relief brought forward for financial institutions in Ireland.”.

This amendment was not discussed with amendment No. 42 but the subject matter is essentially the same and the Minister has committed to providing what he calls a technical paper. We are looking for a report but we will split the difference. The Minister stated the technical paper will be before the Committee on Finance, Public Expenditure and Reform, and Taoiseach by June and will examine the options and implications of restricting the loss relief carried forward by the banks. I will accept that assurance and withdraw the amendment.

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