Michael Ahern (Cork East, Fianna Fail)

The Senator has referred to regulatory impact analysis on a number of occasions. A number of initiatives have been taken as a result of the OECD report on regulation. These involved, inter alia, the establishment of a high level group to co-ordinate the implementation of the regulatory reform agenda. The group will develop regulatory impact analysis guidelines. This work has not been completed and will require Government approval. The recommendations of the review group on auditing and the heads of the Bill were checked by the Department against a Cabinet handbook and quality regulation checklists and found to be compliant.

In addition the IASA Bill is implementing the recommendation of the review group. This group was broadly based and its report was published in 2000. Interested parties were free to comment on its recommendations. Heads of the Bill were published in 2002. It is interesting to note that representations were received from the Law Society this morning – it took some time to get its views. Together with the excellent comments and views expressed here yesterday and again today it will give much food for thought in considering the provisions currently in the Bill.

Amendment, by leave, withdrawn.

Amendments Nos. 2 and 3 not moved.