Liam Twomey (Fine Gael)

I move amendment No. 6:

In page 2, before section 3, to insert the following new section:

"3.—The Minster shall at all times in the operation of this Act be cognisant of the broader competitive environment along with the business needs of all banks with substantial operations in Ireland.".

This has been well discussed in the Lower House. It covers the situation of Ulster Bank which is not one the institutions that has been prescribed in the legislation. The Minister has commented on that but he may wish to make a quick comment on the record of the Seanad.