Seanad debates

Tuesday, 22 June 2004

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

 

4:00 pm

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)

The suggestion that members of the financial services ombudsman council and the panels should be selected by a process of open recruitment is not in accordance with general practice, which is that a Minister makes such appointments following appropriate consultation. There is no reason to depart from the general practice for these appointments, particularly given the requirements in the legislation, which limit ministerial discretion. The Minister looked into the feasibility of publicly inviting expressions of interest in the council and the panels. He was unable to guarantee that the names of persons which were put forward but which were not selected would not have to be published because of the requirements of the Freedom of Information Act 1997. This severely limits the usefulness of a public advertising approach.

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