Alice-Mary Higgins (Independent) | Oireachtas source

I will speak briefly as Senator Ruane has covered the arguments extensively. As I said, I second these amendments. The fundamental point is that we are the Legislature and we are putting in place the framework under which these funds will operate. Indeed, extraordinary provisions have been made in this Bill to allow particular activities to take place that would not normally take place, for example, to allow a limited partner to exclude limited partners from certain liabilities. Many choices are being made in this legislation and a similar choice would be to include the possibility for the Central Bank to put in place measures in respect of benefits to the State, business and human rights, on which a UN treaty is being negotiated, and on climate and biodiversity which would be in sympathy with the State's policy of fossil fuel divestment, for example. There is nothing to preclude us from giving those powers to the Central Bank. The Minister of State spoke about the good offices of the Central Bank and these amendments seek to strengthen the hand of the bank so that it can perform to a high level in delivering on issues around business and human rights, climate and biodiversity sensitivity in these funds. This is very reasonable in view of how much is being given to those who are seeking to set up these news kinds of products and structures in Ireland. That should come with at least some positive conditionality.