Seanad debates

Wednesday, 5 July 2017

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

 

10:40 am

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

I move amendment No. 3:

In page 4, line 1, to delete “upheld or substantially upheld” and substitute “upheld, substantially upheld or partially upheld”.

These are a series of amendments I am proposing. The effect of the amendments as a group is to replace the finding of "substantially rejected" with the new finding of "partially upheld". This new finding is more accurate and, crucially, it adds a third positive rather than a second negative finding. This has a knock-on effect as regards the name-and-shame provision with the three positive findings now eligible as strikes under the three-strike system that applies there. The result will be greater transparency for the consumer.

Deputy Doherty’s Bill was innovative in introducing the fourth finding to allow greater transparency. I am happy the Government has accepted the logic of that position and may support this additional change.

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