Seanad debates

Wednesday, 2 April 2003

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

 

10:30 am

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)

The provisions in the Bill set out certain items that have to be contained in the Consumer Director's annual report. The chief executive will be required to specify if any other matters should be included. The chief executive is the person in the body being established by the legislation who has the power of initiative in this respect. I have no doubt he or she will take into account the kind of issue referred to by the Senator. In those circumstances it is not appropriate to be so prescriptive in legislation about what else should be contained in the report. International comparisons might well be a feature of the report but it is a matter for the consumer director to decide what comparisons or methods might be used to fulfil his or her obligations under the section. For those reasons I am unable to accept the amendment.

Amendment, by leave, withdrawn.

Section 26 agreed to.

Sections 27 to 36, inclusive, agreed to.

Schedules 1 to 3, inclusive, agreed to.

Title agreed to.

Bill reported without amendment.

Report Stage ordered for Tuesday, 8 April 2003.

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