Thomas Byrne (Fianna Fail) | Oireachtas source

I move amendment No. 2:

In page 7, to delete lines 12 to 19.

If the Minister says he is changing his approach to the issue of the regulator, I will move the rest of the amendments, but, if not, I may withdraw them, even though they are being discussed together. I had suggested a slimmed down version of the regulator and that we proceed with the model that has applied heretofore. There is the possibility of an independent prominent businessman doing it as a side job or that it would be done within the Department as an independent office. We object to the creation of another quango because, effectively, that is what is being done. This is the Government that was to have had a bonfire of the quangos similar to the Government across the water but it never works out that way. One would have thought there was no need to put in place another regulator and the costs associated with it. Has the Minister developed his thoughts on the ethical issues of the regulator? I did not table an amendment on the matter because, clearly, it is a major issue. I hope the Minister will consider whether it is sufficient for the regulator to declare his interests rather than impose a prohibition on certain interests being held by the regulator. It may be a bigger issue.