Brian Lenihan Jnr (Dublin West, Fianna Fail)

Having studied the Bill, before it came to Seanad Éireann and during its passage, I can well understand the spirit that motivated this amendment. I disagree with the Senator in saying this consolidation could easily be done. It would be far from an easy task to consolidate this legislation. However, consolidation is very desirable and was requested by all parties on Second Stage in this House.

I draw the Senator's attention to the fact that the McDowell group recommended that consolidation be carried out of all the statute revisions relating to the single regulatory authority. The European Central Bank also raised this issue in its formal opinion on the Bill. The Minister for Finance has stated there will be consolidation. I can appreciate how difficult it has been for Senators to study this Bill when in a sense they are looking at the beginning of the bricks and scaffolding of a measure which will eventually become a house. The Senator is suggesting we should put a deadline on its construction.