Thomas Byrne (Fianna Fail) | Oireachtas source

On how the regulator will deal with the company which will hold the lottery lease, it seems that, as well as the disclosure of interest, there is a needs for some provision on the interaction of the regulator with the lottery company and how it will deal with that issue. It is inevitable that there will be massive communication between both sides. While it may not be a direct interest of the regulator under the terms of this section - perhaps I should have discussed this issue under an earlier section - it seems that the Minister will have to keep a close eye on how the regulator operates in practice. He or she should not get too close to the lottery company. He or she should keep his or her mind broad in how things operate and should not be captured. As I keep saying, regulatory capture is a well known phenomenon in economics and business. It is not just about the unfortunate regulator of the banks. The Minister has to be on guard.