Results 181-200 of 6,947 for speaker:John Paul Phelan

Seanad: Finance Bill 2003 [ Certified Money Bill ] : Second Stage. (25 Mar 2003)

John Paul Phelan: It is a pity we have come to this crossroads. Difficult decisions had to be made, some with which I agree. However, the easy option was chosen in too many cases.

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

John Paul Phelan: I move amendment No. 1: In page 5, between lines 20 and 21, to insert the following new subsection: "(2) Within two years of the coming into operation of this Act, the Minister shall present to the Oireachtas a review of the operation of the Act which will inter alia, assess– (a) the impact of the operation of the Act on the Credit Union Movement, (b) the adequacy of the system for...

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

John Paul Phelan: Would the Senator support it if it were elsewhere?

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

John Paul Phelan: I understand what the Minister of State and Senator Mansergh are saying. I would love to employ a draftsman, but unfortunately I cannot do so. I gather that the Minister of State might be supportive of the amendment if it was placed elsewhere in the Bill. The regulations operated by the Central Bank with regard to the banking industry are designed to ensure that the structure stays in place...

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

John Paul Phelan: I move amendment No. 2: In page 10, paragraph (g), line 18, after "problems" to insert "and the quality and cost of services to the consumer". The new section 5A(1)(g) to be inserted into the principal Act deals with the collection and publishing of data by the authority. The amendment again seeks to protect consumers by ensuring that the quality and cost of the service is realistic. It...

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...