In his statement to the Dáil in July 2002 in relation to the report of the inspectors appointed to inquire into the affairs of Ansbacher (Cayman) Limited, the Minister referred to the constraints on banking regulators arising from the confidentiality provisions contained in EU and national legislation. He stated that it was his intention to make significant change in the area of confidentiality by way of Committee Stage amendments to the Bill. These proposals are contained in section 33AK to be inserted in the principal Act. The emphasis of this section, as inserted into the Bill during Committee Stage in the Dáil, is on the obligation to disclose information to other statutory bodies where there is a suspicion that the law is being broken.