Seanad debates

Wednesday, 2 April 2003

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

 

The subsection to which this amendment refers deals with levies and the possibility of the authority and its chief executive, with its agreement, making regulations for the prescription of levies on those regulated by it. The purpose of the amendment is to ensure the authority would make public its justification for increases in such levies. I tabled the amendment to seek clarification on the matter. "Transparency" is a much used and abused word. The purpose of the amendment is to shed some light on the criteria the authority should use in making a decision to impose such levies on regulated bodies under its remit. I would be interested to hear the Minister of State's response.

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