Lorraine Clifford Lee (Fianna Fail) | Oireachtas source

I thank the Minister for his comprehensive overview of this extremely important legislation which I agree is vital to protect the financial system. Such legislation is becoming increasingly important, given the globalised nature of the world in which we live and the cross-border terrorism that often takes place. Fianna Fáil welcomes the transposition of the directive into domestic law. We will support the passage of the Bill as swiftly as possible through the House.However, I would like to make reference to the delay the Bill experienced. I know the Minister outlined the reasons for that delay and said there were 20 member states that failed to implement the directive by the deadline. However, he then went on to say that Ireland and two other countries had enforcement proceedings taken against them. Will the Minister explain why the other 17 countries did not have enforcement proceedings taken against them whereas we did? What procedures have been put in place to ensure a Bill or a directive of this sort can be dealt with as swiftly as possible? I presume we will see such measures coming from the EU more frequently as the world becomes a smaller place and terrorism and cross-border co-operation between various terrorist groups becomes more prominent. I would like to hear the Minister's comments on that point.

Overall, we will support the Bill. We want to allow it to move through this House as quickly as possible.