Seanad debates

Tuesday, 26 April 2005

Investment Funds, Companies and Miscellaneous Provisions Bill 2005: Committee and Remaining Stages.

 

4:00 pm

Derek McDowell (Labour)

I know that. In a sense we are wandering in the dark here. We are increasing the fines for offences, but we do not know what these are. I appreciate the offences already exist. In a sense, if we are to make any serious assessment as to whether the fines should be increased, we should know what the offences are in the first place. Specifically on this section, is the offence we are talking about covered under the prices order and does that imply that the Minister of State has decided he is going to retain that order, which effectively restricts below-cost selling?

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