Frank Fahey (Galway West, Fianna Fail)

On Committee Stage, the Minister for Justice, Equality and Law Reform indicated that some aspects of the amendment merited inclusion. He asked Senators for time to consider the wording in conjunction with the Parliamentary Counsel and to consult the Garda authorities and the banks on the proposal's operational and practical implementation.

The amendment would have the effect of broadening the definition of "account". Having consulted with the relevant parties, the Minister is of the view that inclusion of the proposed amendment would place too heavy a burden on the banks and render the provision inoperable. The Irish Bankers Federation indicated that the effect of the proposed amendment would be that all trust accounts, nominee company and trust company accounts would be unencompassed by the proposed addition to the definition of "account".

While the names of all beneficiaries of trust accounts are retained by the banks in files, names of beneficiaries would not normally be on the account. As a result, in order to operate this provision, the banks would have to undertake a manual search which would be an unwieldy and virtually impossible task. It may also be difficult, and even impossible, in some circumstances for a bank to ascertain whether an account is held in whole or part by a person for someone else. It would be an unfair burden to put on the banks to uncover detail regarding, for example, an account beneficiary in a large trawling exercise.

The amendment goes beyond what is covered in the terms of the protocol of the Convention on Mutual Assistance in Criminal Matters between the Member States of the EU 2000. For these reasons, Senator Tuffy will appreciate it is impossible to accept the amendment.