Results 6,121-6,140 of 36,116 for speaker:Pearse Doherty
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: Until now. Therefore, the game may change. There is the issue of an individual thinking that his or her institution is being held accountable but it is a different matter when it comes to him or her personally. While I am not completely opposed to this section, I am concerned about its application. I can imagine there will be situations, and we discussed this last week, whereby the Central...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: I appreciate it.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: I agree.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: I appreciate that.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: May I make an intervention on that? On section 64, my reading of the proposed section 33BC(3A)(c) is that it relates to a situation whereby there has been a contravention and the Central Bank enters into an agreement with the individual. Then, after an examination, the individual would agree that there was a contravention and therefore that provision can apply. However, the section we are...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: We discussed issues relating to section 64 earlier, as well as when the committee was in private session. Where there have been significant contraventions by financial instructions, the Central Bank has published the details of the contravention and of the sanction and has named the institution. This section allows for the same to happen for individuals. This may include the name of the...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: I wish to tease out the process for the appointment of a panel from which inquiry members will be drawn. The Minister is going to be the person who will establish a panel from which appointments will be made by the Central Bank. Subsection (2) states, "The members of a panel established under this section shall be appointed by the Minister following a process conducted by the Bank after...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: That is no problem at all. We will start with the simple ones first. How many individuals is the Minister likely to appoint to the panel? It is to get a sense of how big the panel is likely to be. Will the Minister speak about the requisite qualifications mentioned in subsection (3)? I refer to the skills, experience and knowledge an individual would have to have.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: I thank the Minister for that. There will be a transitional panel. That is fine. Will the old panel be stood down? Will the regulatory panel still exist alongside the new panel?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: That answers my next question, on the term limits. The transitional panel, which will apply for three years, will provide a continuation of service. Is the panel populated at different stages? Is the Minister taking 24 off and putting 24 on? Is there a process involving different term limits? If all the members are getting an extension of three years, does that not create an issue? Will...
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: Yes.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: I appreciate that. The Minister referred to the exact intention behind the questions. Subsection (4) allows the Minister to appoint for a specified period. What is the practice regarding that period? I see there are no limitations on rolling over and reappointing. Is there any other legislation that applies?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: That would mean all of them would have to be on their first term if the transitional panel is to be appointed for another three years.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: That takes me back to the earlier point on rolling on and off. Are we moving everybody at the same time? The panel does not operate as a board, as such.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: The panel comprises individual members from which the Minister draws anyway-----
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: So it is not a committee or decision-making body in itself.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: There is no leader or chairperson of the panel; it is just individual members that the bank draws from.
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: Exactly.The term is four years. Is it a remunerated position? Is that what subsection (7) is dealing with in terms of contracts of service?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: Does being drawn from the panel entail remuneration? Does the bank enter into a contract of service if a person is drawn from the panel to be a member of the inquiry?
- Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)
Pearse Doherty: I presume those are the going rates.