Niall Ó Donnghaile (Sinn Fein) | Oireachtas source

Cuirim fáilte roimh an Aire Stáit agus gabhaim buíochas leis as a bheith linn don díospóireacht inniu. I express my concern and disappointment, shared by colleagues, at the fine imposed on the State as a result of the delay in the passage of the Bill. Without over-egging the pudding, that is an important point to put on record once again, for all the reasons articulated by colleagues.

As has been said, this is significant and substantial secondary legislation and it is primarily technical in nature. The Minister of State will be aware that my colleagues in Sinn Féin, as well as other parties and groups in the Dáil, have engaged on it throughout. It has received broad support and he will have encountered a range of views and observations on it in that House as well. I appreciate what colleagues have said about some aspects of the Bill and its consequences that may impact on us. It is important to remember that the crux of the legislation is not only about allowing the State to respond to the understood or conventional methods of money laundering and financial crime, but also about allowing evolving methods of such crime to be combated and dealt with.That is why the legislation is so important as a response to the threat, including to citizens, of financial crime and money laundering. I agree with the point made that appropriate, rolling implementation and enforcement of this legislation will be key as we move forward.

Like others, I do not want to prolong this debate on Second Stage needlessly. As outlined by our colleague, Senator McDowell, amendments will be submitted. I look forward to an informed debate as we pass this legislation through the House as speedily and effectively as possible, which I hope will be the case.