Results 6,141-6,160 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: So the Minister may appoint individuals to the panel after a process conducted by the bank, and the bank consults the Minister. Am I correct that the bank goes through a process, identifies a wide range of individuals who have the necessary qualifications, scope and breadth to deal with any issue that may arise, and speaks to the Minister on the pool it is putting forward? Ultimately, 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: How does a conflict of interest arise? It is a small island, particularly when we are dealing with individuals.
- 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 Minister will just appoint to the panel. At that time, he or she will not be able to figure out if there is a conflict of interest. The individual-----
- 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, the Central Bank.
- 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: How many individuals will be appointed from the panel to conduct an inquiry? There will be a chair and what else?
- 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: Where in the Central Bank is this decision taken? Who has the responsibility? Is it the head of regulatory-----
- 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 the Minister going through this with the committee. I ask him to explain section 33BI(7), which relates to a contract of service or a contract for services.
- 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: This relates to the external members of the panel, the 24 who are already there and will now make up the new transitional panel. Are there internal members of the panel? What is the process of appointment for internal members of the 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: If there is an inquiry, is there a requirement to have a mix of external and internal members?
- 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: How many internal members are currently on the 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: 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: We are coming to the end of the Bill. This point does not necessarily fit in with the section as the section has more to do with transitional issues in the new legislation and how it interacts with the investigations that are up and running. On previous sections we discussed penalties and awards. We are all too familiar with penalties being imposed on regulated financial institutions and...
- 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: Is that just because they do not appeal this to the High Court on a point of law?
- 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: If the notice of inquiry is issued, there is no early discount. If they do not accept the findings of the examination and it is proceeding to an inquiry, the discount is gone. Is that correct?
- 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 dealt with this last week but the Minister might remind me as to whether a financial institution can pay the penalty on behalf of an individual.
- 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 understand 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: I appreciate that. I have two points. Financial institutions being able to pay the fine for the individual is problematic and maybe that is something the Central Bank could consider. It is difficult to have individual accountability in sanctioning somebody when it is the financial institution that is paying for it anyway. There are questions of probity and so on, but there is a difference...
- 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, I think so. I agree with the points and that is why I say it needs to be considered, because there is an unease in that regard. There is also the question of the financial sector being small. The issue is that it is hard to get information. We are talking about the domestic bank sector, which does so much good too, but in all the big scandals we have had, which we saw too often but...
- 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 the back and forth we had on the Bill over the two sessions and for his own work on this. I also thank his officials for their help in private sessions in clarifying some of the more technical aspects of the Bill. When is it intended to go to Report Stage so that we might get a sense of a deadline for amendments?
- 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: Okay. I am sure we will be notified in due course.