Seanad debates

Wednesday, 21 June 2017

Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Second Stage

 

10:30 am

Photo of Rose Conway WalshRose Conway Walsh (Sinn Fein) | Oireachtas source

I thank the Acting Chairman and the Minister of State. From hearing the latter's response, we have more in common than divides us. I accept his bona fides that he recognises the urgency relating to the Bill and I am glad he mentioned days rather than anything else. I accept that he may have very genuine amendments in terms of long-term services as defined in section 2. Perhaps he might let us have the amendments as soon as possible so that we can get agreement on them. He will know from the finance committee that insurers will use this as an excuse to raise premiums in any event.However, that would be nothing more than an excuse. We can work in these protections using the insurance report. We should not allow the Bill to be delayed by the behaviour of insurers because other measures can be put in place.

I welcome and thank Deputy Pearse Doherty. I had forgotten he was once a Senator and, as such, can feel our pain sometimes.

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