Results 3,041-3,060 of 32,432 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 45: In page 59, line 11, after “notice” to insert “in writing”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 46: In page 60, line 25, to delete “and (2)” and substitute “to (3)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 47: In page 60, line 38, to delete “33AR(7)” and substitute “33AR(8)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: As the Deputy well knows and understands, I cannot speak on behalf of the Central Bank regarding what its intent could be. However, given the amount of consultation we have gone into with the Central Bank on this legislation over a number of years, this section has been drafted and included in the Bill with my expectation that it will be used. How it will be used and how frequently it will...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 48: In page 62, to delete line 3 and substitute “subsections (4) and (6):”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 49: In page 62, line 15, to delete “section 33AQ” and substitute “section 33AO”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 50: In page 62, line 19, after “section,” to insert “or”. Given the number of the amendments in this grouping and given the importance of the Bill, I will speak to the grouping to indicate briefly to the committee what the amendments are for. Amendments Nos. 48 to 55, inclusive, deal with the separation of functions during the course of an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 51: In page 62, line 21, to delete “(b), and” and substitute “(b).”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 52: In page 62, to delete lines 22 and 23 and substitute the following: “(5) A person performing or exercising functions or powers under section 33AO(1) or (2) of deciding whether to hold an inquiry shall not be involved in making submissions, leading evidence or examining witnesses on behalf of the Bank at the inquiry. (6) Functions or powers which are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 53: In page 62, line 24, to delete “(5) Subject to subsection (4)” and substitute “(7) Subject to subsections (4) and (6)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 54: In page 62, line 31, to delete “(6) A person” and substitute “(8) A person”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 55: In page 62, line 34, to delete “(7) Subsection (6)” and substitute “(9) Subsection (8)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 57: In page 64, line 11, after “Bank” to insert “, the Governor or the Head of Financial Regulation”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: The Deputy has asked many questions. If he lists them again, I will go through each in turn.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I will deal with that because I want to go through each in turn. There are currently 24 external members of the panel. There is no threshold or limit to how many people the Minister can appoint. My plan is to appoint the current 24 members as members of a transitional panel so the group will be in place to act once the legislation is in place. They have a background as senior legal...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: It will not be. The existing panel will become the transitional panel and it will then be up to the Minister to determine who should be on it in future. The panel will be in place for up to three more years.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Is the Deputy's concern that they would all go at a single point?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: This is part of the thinking regarding why there is not a cap or threshold in place regarding the number of members of the panel. What will happen, subject to the legislation being passed by the Oireachtas, is that the other members of the panel will be appointed in the time ahead. As members exit the panel, there will be members who will have served already on the panel for a period. I...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: They will be appointed for a four-year term, which may be renewed for one further period of up to four years. Then the Minister has the power to terminate in certain circumstances. To deal with part of the Deputy's question, one further renewal as possible. Beyond that, the person's position cannot be renewed any further.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Yes, they are all in their first term.