Seanad debates

Wednesday, 2 April 2003

Central Bank and Financial Services Authority of Ireland Bill 2002: Committee Stage.

 

10:30 am

Photo of John Paul PhelanJohn Paul Phelan (Fine Gael)

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 Acquisitions Tax Consolidation Bill 2002, a monumental piece of work. I know considerable work went into this Bill and did not mean in any way to denigrate the work carried out by those who drafted it.

I am again disappointed the Minister of State has not accepted my amendment. Many items in this country are allowed to continue without timeframes, not just in the area of finance. It would be appropriate to have a timeframe. I ask the Minister of State to tell me when the (No. 2) Bill will come before the Houses of the Oireachtas. It was promised at the end of last year and we have still not seen it. While I understand consolidation cannot occur until it has been published, I would be fearful that it might not be published as soon as had been promised.

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