Results 6,881-6,900 of 7,082 for speaker:John Paul Phelan

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I move amendment No. 3: In page 10, paragraph (i), line 32, after "law" to insert "until 31 December 2005, by which time a consolidated statement of its functions under all statutes will have been presented to the Oireachtas".

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: Perhaps we should have deadlines.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: That is a very good statement.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I am glad the Senator has said one should not make commitments one cannot honour. Perhaps he will try to instil this in some of his colleagues in government. I share the view of many that commitments were made that have not been honoured. I understand what the Minister of State has said. If I used the word "easy", it was unintentional. Even in the my short time here, I have seen the Capital...

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I move amendment No. 4: In page 19, paragraph (f), line 10, after "Minister" to insert the following: "who shall be chosen to include persons with experience in the delivery of financial services, in the requirements for adequate consumer protection and in the needs of business for a competitive environment". Senators will be aware that I have raised the issue of the suitability of appointees...

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: It is not beyond the bounds of possibility.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: That is not what the amendment says.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: The Senator accepts the amendment.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: That is not in the amendment.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: To take up Senator Mansergh's point, we have seen people, who were not fit to be chairmen of the Ballygobackwards cumann, appointed to semi-State bodies and are so regarded by many people. Nothing in the text of the amendment ties the Minister's hands because it is the most loose form of words that could possible be applied to an amendment of this form. I was taken by what the Senator and the...

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I move amendment No. 5: In page 31, line 29, after "designate" to insert "the Director of Consumer Affairs and".

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I appreciate the Minister's reply dealing with what is the substantive argument concerning the Bill. While it is true that the McDowell report recommended a one-stop-shop facility both for consumer protection and the authority's regulatory role, there was an apparent contradiction in that, of the European countries examined by McDowell, virtually none had the one-stop-shop system. Both roles...

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: Yes.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I move amendment No. 6:

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I move amendment No. 7: In page 42, line 6, after "Minister" to insert "having consulted with the Minister of Cabinet who holds responsibility for consumer affairs". This is not a complicated amendment. It merely seeks to ensure that when the regulatory authority appoints the Consumer Director, the Minister with responsibility for consumer affairs would be consulted in the appointment...

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: Charlie would not have that.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I accept what the Leader of the House has said. However, there is a circular argument to this issue. There are two roles within the regulatory authority. The role that the Consumer Director has to play and the functions of the authority in the area of consumer protection come within the responsibility of the Minister for Finance. I am not disagreeing with what the Leader said but surely there...

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I move amendment No. 8: In page 45, to delete all words from and including "in the name of" in line 22, down to and including "Authority" in line 26 and substitute "after consultation with the other members of the Regulatory Authority". This amendment seeks to change the subsection dealing with codes and requirements under statutory instrument which the consumer director may have to enforce....

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: There is a "but" here.

Seanad: Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage. (2 Apr 2003)

John Paul Phelan: I move amendment No. 9: In page 46, between lines 30 and 31, to insert the following new paragraph: "(e) comparisons against best practice in other comparable countries in relation to the cost of financial services and the range and quality of services offered.". This subsection deals with the annual report of the authority, which the Minister referred to earlier. Such a report is an...