Seanad debates

Tuesday, 22 June 2004

Central Bank and Financial Services Authority of Ireland Bill 2003: Committee Stage

 

3:00 pm

Photo of Martin ManserghMartin Mansergh (Fianna Fail)

I looked at the debate in the other House, as the amendment was also tabled there. The authority has both a consumer protection and a prudential role. The problem with appointing somebody who represents a particular interest is that he or she represents that interest rather than having a more general role. I have listened to people involved in consumer protection over the years and some of them tend to be very strident and are primarily looking for publicity. It is probably better not to constrain the Minister's choice. Bearing in mind the core functions of the authority, he will be aware of the need to choose people from different backgrounds. I am not convinced of the need for the amendment.

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