Feargal Quinn (Independent)

I thank the Minister of State for noting the points I made. There is recognition of the ability and right to co-opt an individual to the board or to dismiss him or her. The reason I tabled these amendments is that I am concerned about the Government's attitude to business, particularly in regard to a regulatory impact assessment, which is lacking in this legislation. The Irish Times carries a headline today regarding the OECD's comments about Ireland. It is only two years since the OECD spoke strongly about Ireland and recommended that a regulatory impact assessment should be conducted. The Government stated it should be carried out and published a White Paper, which provided that all legislation likely to have an impact on competitiveness and making Ireland attractive to business should contain such an assessment. However, it has not been provided for in this legislation.

Senator O'Toole explained on Committee Stage that enough opportunities were provided for people to have an input but conducting a regulatory impact assessment is easy. A civil servant can be asked to ascertain the impact of regulations on various aspects of business. I do not know the reason it has taken a year to act on the White Paper. Other countries lost competitiveness because business was over-regulated and their economies went out of control, which resulted in the IMF or other institutions intervening to tell them how to run them. A number of years ago the European Union told us how we should behave ourselves. I am seeking to achieve a balance on the authority and will not press the amendments. While I appreciate that the Minister of State has noted my comments, I urge him and the Government to include users in future, which in this case include non-executive directors as well as auditors.