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

It is very important that we have effective penalties. In addition, the industry must recognise that as well as being a legal obligation, it is at the heart of its business to ensure that its users are safe online. Interestingly, in Australia, which is far ahead of Ireland in this area, there are strong penalties but it has not been necessary to use them. It is interesting that there is a growing consensus even within the industry that it needs regulation and that, from its own point of view, the period of self regulation has not been good enough. It is to be hoped that we will get very considerable co-operation from the industry. Notwithstanding that, I agree with the Deputy that where there are abuses, the penalties must be meaningful from the point of view of these very large companies.

See this speech in context