Seanad debates
Thursday, 27 March 2003
Central Bank and Financial Services Authority of Ireland Bill 2002: Second Stage.
Looking at the amount of legislation we have now is, as Senator Quinn said, similar to a form of gymnastics. We need to be very careful to get it right. We should not bring forward legislation for the sake of it, particularly if it is not compatible with existing legislation. This Bill implements a portion of the McDowell group recommendations. Further recommendations of the group will be forthcoming at a later stage. It is important that its work is fully implemented. However, I urge the Minister to give serious consideration to consolidating the various Acts as has been done in the area of taxation. It would be a worthwhile exercise from the point of view of both consumers and those responsible for the implementation of the regulations.
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