Michael Ahern (Cork East, Fianna Fail)

The officials will review the points made by Senators Maurice Hayes and Quinn. This will not be done in time for tomorrow's Report Stage debate. However, the matter will be dealt with by the time the Bill is taken in the Dáil.

Amendment, by leave, withdrawn.

Amendment No. 22 not moved.

Government amendment No. 23:

In page 27, lines 1 to 4, to delete subsection (12) and substitute the following new subsection:

"(12) The Supervisory Authority shall consult with the Irish Financial Services Regulatory Authority before making any decisions under this section with respect to a company regulated by the latter Authority, including a decision to give notice under subsection (3).".

Amendment agreed to.

Section 26, as amended, agreed to.

SECTION 27.

Government amendment No. 24:

In page 27, lines 20 to 22, to delete subsection (1) and substitute the following new subsection:

"(1) The Supervisory Authority may delegate some or all of its functions and powers under sections 23 to 26 to a committee established for that purpose and constituted as follows:

(a) in the case of functions and powers under sections 23 to 25, committee consisting of directors of the Authority and such professional and other advisers as the Authority considers necessary;

(b) in the case of functions and powers under section 26, a committee constituted in the manner described in paragraph (a) of this section or consisting of only such professional and other advisers as the Authority considers necessary.".

Amendment agreed to.

Section 27, as amended, agreed to.

SECTION 28.

Question proposed: "That section 28 stand part of the Bill."