Seanad debates

Wednesday, 9 April 2003

Central Bank and Financial Services Authority of Ireland Bill 2002: Report and Final Stages.

 

10:30 am

Jim Higgins (Fine Gael)

I thank Senators Quinn and McDowell for supporting the amendment. The Minister of State stated there is no doubt that the chief executive will take the issues we have outlined into consideration. However, I am at a loss as to why he would not enshrine in the legislation the fundamental requirement to gauge and monitor the operation of our strategy as against that of similar strategies in other countries. We pride ourselves on our internationalism and our taking part in what is happening globally, but the Minister of State is turning down the requirement to include, as an integral and vital part of the annual report, an analysis of what is happening in other jurisdictions. I genuinely believe that the Minister of State appreciates the merits of what is being proposed and it should be given serious consideration because it seems to make absolute sense.

Amendment put and declared lost.

Bill reported without amendment and received for final consideration.

Question proposed: "That the Bill do now pass."

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