Seanad debates

Thursday, 27 June 2013

Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage

 

11:30 am

Photo of Sean BarrettSean Barrett (Independent) | Oireachtas source

I thank the Minister. As always, I sought harsher fines. If we were trying to do the reverse I do not think that any Member of the House would be happy to take a doubling of his or her 1942 salary and expect to live on that sum. It would be a reduction in real terms.

I appreciate that the Minister wants an early warning system. I will not press my amendment. Reducing the imposition of fines by a number of decades will not get the undivided attention of some of these characters. I share his goal to get them early so that we do not have to worry about fines. At least if they are caught then maintaining 1942 values might be a good idea. I shall not press my amendment and I thank the Minister.

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