Seanad debates

Thursday, 16 December 2010

Credit Institutions (Stabilisation) Bill 2010: Committee and Remaining Stages

 

3:00 pm

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

I know what the Minister is trying to do, but this is not the way to do it. There are other ways to do so. If a case was taken to the Four Courts, the Minister might state his case and rely on the public interest, as mentioned in the Preamble or whatever precedes the Bill proper, but I do not believe that would hold sway or be what was required. The Minister used the word "proportional" twice. This is not proportional and flies in the face of legislation. If the whole Bill were time bound - Senator Donohoe referred to aspects that are time bound - I probably could not have this argument and I would have to admit it only pertains to certain institutions for a short period. However, it is not for a short period. Given the number of references to the word "whereas", it could apply until judgment day. While I have problems with a number of sections, it would be irresponsible of me not to vote against sections 6 and 8 in particular. They are wrong.

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