Micheál Martin (Cork South Central, Fianna Fail)

The Director of Consumer Affairs exercises no functions under the Central Bank and Financial Services Authority of Ireland Act 2003. There is no need, consequently, for this Act to feature in the list of enactments in Part 1 of the Schedule for which the national consumer agency will assume responsibility for functions now exercised by the director. The Director of Consumer Affairs exercises functions, however, under the European Communities (Distance Marketing of Consumer Financial Services) Regulations 2004 and it is consequently necessary to include this instrument in the list of enactments in Part 2 of this Schedule.