Kathryn Reilly (Sinn Fein) | Oireachtas source

I move amendment No. 3:

In page 58, to delete lines 42 to 45 and in page 59, to delete lines 1 and 2 and substitute the following:“(5) A regulated financial service provider falls within this subsection if, in the preceding financial year, a complaint relating to the regulated financial service provider which has been made to the Financial Services Ombudsman has been found by that Ombudsman to be substantiated or partly substantiated.”.

I will keep my comments short and will not press the amendment. On Committee Stage the Minister was very helpful and positive in saying he would have his officials in the Central Bank look at proposals that were made. The amendment is self-explanatory. It makes a small but important change to the current proposal. Rather than being empowered to detail complaints against certain providers where three complaints have been upheld, the amendment would allow the Financial Services Ombudsman to detail the complaint where one has been upheld if he or she believes it is in the public interest to do so. I ask the Minister of State, if he can, to commit to having his officials in the Central Bank examine the proposal.