Jennifer Carroll MacNeill (Dún Laoghaire, Fine Gael) | Oireachtas source

As we have discussed, the purpose of the Bill is to provide a better regulatory structure in light of the difficulties we have faced. It adds to the suite of legislation and regulatory changes that have been made precisely for the reason the Senator outlined, which is to benefit society more broadly. We have seen the impact of the breakdown of regulation. As the Senator is aware, we have significantly extended the number of people who will have obligations under the legislation. It is self-evident that preventing problems with financial services is much better than dealing with them when they arise.

I refer again to the requirements of drafting legislation. I realise it is an annoying sort of response for Ministers to give all the time but it really is important that legislation should be tightly written. Words like "society" do not form part of the Bill, although its purpose is to achieve the objective the Senator outlined. We are speaking as one, albeit in different legislative language. However, for reasons of drafting discipline, I cannot accept the amendment.