Seanad debates

Wednesday, 11 November 2009

National Asset Management Agency Bill 2009: Committee Stage (Resumed)

 

11:00 am

Photo of Alex WhiteAlex White (Labour)

The last point might be the most telling. It suggests the provision is there to send a reassuring signal to the European Commission. Senator O'Toole is correct. It reads as something that should go without saying. How could it be otherwise? Senator O'Toole is not saying it should be removed so the Minister could approve a restructuring plan that did not comply with the law, and the Minister understands that. He is querying its inclusion and saying there should be a presumption that this would be the case. There is no need to spend long on this provision but I am curious about other legislation where such a provision is not included. Are we setting up different types of commitments that the State will make to comply with European legislation? In other words, if that provision is included, it means we really, really will comply with EU law but if it is not in the legislation, perhaps we might not. Of course, the Minister might have a problem accepting Senator O'Toole's amendment providing for its deletion because, having had his attention drawn to it, it might give rise to other problems if he removes it now.

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