Seanad debates

Thursday, 16 February 2023

Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage

 

9:30 am

Photo of Paul GavanPaul Gavan (Sinn Fein) | Oireachtas source

I move amendment No. 22:

In page 52, between lines 16 and 17, to insert the following: "(ia) whether it has had a widespread impact on society and the welfare of the State generally,".

Amendment No. 22 seeks to stipulate that when imposing a sanction on an individual, there should be a consideration of whether the prescribed contravention has had a widespread impact on society and the welfare of the State generally. This goes back to the historical background of the legislation and the effects of the banking crisis on our society, which are still felt today. I urge the Minister of State to accept this amendment. If there is to be true accountability, there must be a recognition of how actions in this sector impact on society and our collective well-being as a nation. This is a key opportunity to reflect the spirit of the Bill in a practical way.

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