Eugene Regan (Fine Gael)

It starts with regulation and schemes to be adopted by the Minister. I cannot even find clear wording to provide for the type of indemnity that is being provided by the Government in this legislation.

In his contribution the Minister of State made a number of points including what it is intended to do under the legislation. He said it is intended to put "a fee mechanism in place to remunerate the guarantee at a commercial rate taking into account such factors as the possibility of increased funding costs for the Exchequer, the economic value for the institutions and the need to support investor confidence in the Irish financial system overall." Where in the Bill can I find that statement? The Minister of State said that it was a priority of the Government to ensure that the highest regulatory and corporate governance standards will apply in all of the institutions. Where can I find that in the Bill? If we are adopting primary legislation, which sets out the supports for the banks and the conditions which apply, I do not see it in the legislation.