Micheál Martin (Cork South Central, Fianna Fail)

Yes, but the preamble of the amendment speaks of the Central Bank and Financial Services Authority of Ireland Act 2003. In any event, the effect of the amendment would appear to empower the Director of Consumer Affairs to conduct price surveys for the various reasons stated in the amendment. I would advise Senator Coghlan that the Office of Director of Consumer Affairs will cease to exist once the National Consumer Agency comes into being. Therefore, the question of assigning powers to that Office simply does not arise.

If it is Senator Coghlan's intention that the powers proposed in the amendment should be assigned to the consumer director of the Financial Regulator, I would advise that the Financial Regulator already has powers under the Central Bank and Financial Services Authority of Ireland Act 2003 to conduct consumer information and awareness campaigns on financial services. The House will be aware of the regulator's activities in this area, especially its regular price surveys of different financial services. The Act of 2003 empowers the consumer director to issue statutory codes on regulated entities providing financial services.

Section 8 of this Bill, which sets out the functions of the new National Consumer Agency, already includes specific provisions obliging the agency to conduct, commission and research studies and analysis relating to its functions and to publish the findings of such research as it considers appropriate. Section 8 also obliges the agency to promote public awareness and conduct public information campaigns for the purpose of educating and advising consumers.

I am satisfied, therefore, that the Bill already contains sufficient provision to ensure the agency can carry out the sort of price surveying proposed in the Senator's amendment. The inclusion of a power to compile and publish codes of conduct for service providers seems to mirror what is already included in the Bill at section 87, which gives the agency power to prepare, issue and publish guidelines for traders on any matters related to consumer protection or welfare. Traders who agree to be bound by such guidelines would be free to advertise that fact.

Regarding the proposed provision to create a good practice provider quality mark, I am of the view that such a provision may have some merit and, therefore, intend to insert a provision in section 8 which sets out the functions of the agency and will enable the agency to award provider quality marks, should it consider it appropriate, as suggested by the Senator.

Some of what is in this amendment is already catered for in the Bill and the agency can already carry out price surveys and so on, even without statutory underpinning. The Financial Regulator has powers to do this also in terms of its consumer obligations. In terms of the quality mark issue raised in the amendment, I am prepared to strengthen the Bill in section 8 and include an amendment to this effect.