Michael Ahern (Cork East, Fianna Fail)

As I explained to Senator Coghlan yesterday, the drafting of the provision in question was based on legal advice and done in such a way as to avoid such issues as self-incrimination or as otherwise contravening the requirements of the European Convention on Human Rights. The effect of the amendment would be to require directors to report to the regulatory authorities, a more onerous obligation than is currently the case. I do not propose to accept the amendment.

Amendment put and declared lost.