John Gerard Hanafin (Fianna Fail)

I welcome the proposal that was made yesterday to restart the economy. At a difficult time, the Government is trying to put a positive slant on enterprise in this country. I note that the Financial Regulator has made significant progress in rooting out bad practice. It is important to note that provision was made a long time ago to allow the Central Bank to deal with issues of this nature. I refer to section 6 of the Central Bank Act 1942, which makes it clear that the Central Bank has wide powers. I am glad the Financial Regulator has been enabled in a similar manner. I do not believe further legislation is necessary under this heading.