Seanad debates

Wednesday, 1 October 2008

Credit Institutions (Financial Support) Bill 2008: Committee Stage.

 

6:00 pm

Photo of Joe O'TooleJoe O'Toole (Independent)

Issues have been raised by a number of people and I felt the Minister would deal with them. This regulation is the core of the Bill. The first amendment tonight was by the Labour Party suggesting the Bill should not come into operation until this regulation was framed and put through the Houses. Whether one agrees or disagrees with that, the thinking behind it was that this is the core of how it will operate, and fundamentally so. While it is secondary legislation, it is crucial secondary legislation. A very solid argument was made that this should be put through the Houses by the affirmative, positive process of being passed by both Houses, rather than just being laid before each House.

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