Seanad debates

Tuesday, 2 July 2013

Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages

 

4:30 pm

Photo of Feargal QuinnFeargal Quinn (Independent) | Oireachtas source

I am happy to second the amendment. The Minister of State is very welcome. I hope he accepts the amendment. When the Minister for Finance was in the House, he paid particular attention to the very points which Senator Barrett has made. Senator Barrett listened very carefully to the Minister and has removed the word "anonymity" from the amendment. Certainly, I got the impression that the Minister was willing and listened very carefully to what Senator Barrett said. The Minister indicated that he would give the matter some thought. I assume on that basis and because the anomaly has been removed, the amendment will be accepted.

The issue of the whistleblower being blamed was serious enough before the tapes were released. Suddenly, with the tapes now coming out, we hear the manner and disdain with which the people involved were treating the State and customers. It is outrageous. The amendment seeks to provide that "The Bank shall publish in its Annual Report a statement of the reforms undertaken by bodies in respect of which reports of breaches were made". It seems so simple, easy and understandable. It should be accepted. Certainly, we had the impression that it would be, particularly if Senator Barrett adjusted the wording to remove the term which was causing the Minister some concern. I urge the Minister of State to accept the amendment. I am not quite as easygoing as Senator Barrett who said it is all right if the Minister of State decides not to accept it. He has put a great deal of work into it and it should be accepted.

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