Seanad debates

Wednesday, 1 October 2008

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

 

7:00 pm

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)

My apologies, Senator Kelly, I have mistaken the numbers in my brief. The section includes: "Financial support may be provided under this section in a form and manner determined by the Minister and on such commercial or other terms and conditions as the Minister thinks fit." Of course the expression "or other" must be included because the Minister needs power in respect of prudent lending and abuse of payments to those who encourage unreliable lending. The reason the term is included is to extend the amplitude of the Minister's powers as I outlined earlier in the debate.

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