Seanad debates
Tuesday, 22 June 2004
Central Bank and Financial Services Authority of Ireland Bill 2003: Committee Stage
3:00 pm
Maurice Cummins (Fine Gael)
I move amendment No. 2:
In page 17, line 43, to delete "€5,000,000, or" and insert the following:
"either—
(i) €5,000,000, or
(ii) a sum equal to the amount involved in the financial impropriety, whichever is the greater,
or".
This amendment proposes to insert either €5,000,000 or a sum equal to the amount involved in the financial impropriety, whichever is the greater. It is a sensible amendment and I hope the Minister of State will accept it. It is preferable to setting a figure in stone. It should include the sum or whichever is the greater. The penalty should fit the crime at all times.
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