Seanad debates
Wednesday, 5 July 2017
Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2014: Committee Stage
10:40 am
Gerry Horkan (Fianna Fail) | Oireachtas source
With the greatest of respect, the answer provided by the former Minister for Finance, Deputy Michael Noonan, on 11 May and the one provided just now was probably cut and pasted word for word. That is fine because it was probably a very relevant answer. However, it suggested there was a misunderstanding on rectification versus compensation which I alluded to at the start of my discussion having gone through the amendment and the response to it. I pointed that out. I understand that the Minister of State has a pre-prepared answer but I had already addressed that point.
It is worth putting the amendment forward. I simply want the Minister of State and his officials to take it on board and I would like Sinn Féin to understand why I brought it forward. I understand completely the difference between rectification and compensation. Perhaps others at an earlier stage did not but I certainly do. I retable the amendment because it is still worthy of consideration. I am not sure if the reservations of the Minister of State are warranted. Possibly, they are not. It would be of value to make the amendment to the Bill but I will not press it at this point by calling us all in here to vote for the next 20 minutes. I ask the Minister of State to consider what the amendment seeks to do on the basis of what I said today and to consider it in the context of both the Government's Bill and the next Stage of this one.
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