It is essential for the new regulatory authority to be properly and adequately funded if it is to be able to fully exercise its powers and functions. The McDowell group considered this issue and favoured funding by industry. Accordingly, the Bill gives the chief executive of the authority, with the agreement of the authority, power to make regulations to impose levies. However, these regulations can only come into effect if they have been approved by the Minister for Finance. There will be a consultation process to consider the fee or levy structure. If it should happen that the funds raised from the fees and levies imposed prove to be inadequate for the authority to perform its functions, the bank may provide the authority with funds to meet any shortfall.