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Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: Yes.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I think there was a meeting of minds on the amendment.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: We always welcome that.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I thank the Minister of State for coming back before the House-----

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: It was a Sinn Féin amendment.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: Certainly.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: The amendment introduces into the Bill the new definition of a "long-term financial service". This is critical because the six-year rule change we will discuss later applies to what we define here. The amendment matches the definition accepted in the Government Bill, which overlaps, as was said, on some of these issues. It would be in no one's interest to have a rule change under one...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: We will always co-operate for the good of the people.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: These amendments are all highly technical in nature and I thank the Minister of State for bringing them forward.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I move amendment No. 3:In page 4, line 1, to delete “upheld or substantially upheld” and substitute “upheld, substantially upheld or partially upheld”. These are a series of amendments I am proposing. The effect of the amendments as a group is to replace the finding of "substantially rejected" with the new finding of "partially upheld". This new finding is more...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I move amendment No. 4:In page 4, lines 7 and 8, to delete “upheld or substantially upheld” and substitute “upheld, substantially upheld or partially upheld”.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I move amendment No. 5:In page 4, lines 19 and 20, to delete “upheld or substantially upheld” and substitute “upheld, substantially upheld or partially upheld”.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: Government amendment No. 6:In page 5, line 13, to delete “of PART VIIB”.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I move amendment No. 7:In page 5, to delete lines 28 to 30 and substitute the following:“ “57CA.(1)On receiving a complaint, the Financial Services Ombudsman shall, as far as possible, try to resolve the complaint by mediation.”. This amendment seeks to improve the mediation process by placing a greater emphasis on mediation. It is a question of "may" versus "should"....

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: Certainly. In keeping with the spirit in which this Bill is being brought forward we will have further discussions with the Minister. We are in a position to withdraw it at this stage but we reserve the right to bring it back in on Report Stage, which we hope will be next week.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I move amendment No. 8:In page 6, to delete line 17 and substitute the following:“(c) is partially upheld, or”.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I move amendment No. 10:In page 6, line 23, to delete “substantially rejected” and substitute “partially upheld”.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I move amendment No. 12In page 7, line 5, to delete “substantially rejected” and substitute “partially upheld”.

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: I have no issue with the amendment as such. I thank Fianna Fáil colleagues for bringing it forward, but I am not aware of any demand for a change in the ceilings. Certainly, I see no reason why the council would not keep the figures under review. What data there is goes back to the 2014 FLAC report which suggests the ceiling is a very hypothetical one and that any review at this point...

Seanad: Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage (5 Jul 2017)

Rose Conway Walsh: Following the technical amendment, the section now allows a consumer to make an appeal not later than 35 days from the decision or finding. I note there may be an issue, which I take on board, with the word "decision". Perhaps "finding" may be the more appropriate term here. I will examine the issue for possible amendment on Report Stage also. I wish that to be noted.

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