Kathleen Lynch (Cork North Central, Labour)
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Question 62: To ask the Minister for Justice, Equality and Law Reform the measures agreed at his meeting with representatives of the security industry; when the proposed new licensing system for cash-in-transit companies will be introduced; and if he will make a statement on the matter. [15646/06]

Michael McDowell (Dublin South East, Progressive Democrats)
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On 7 April, I met with senior representatives of the major cash-in-transit companies, the major financial institutions and the Central Bank and Financial Services Authority of Ireland. I convened this meeting in the aftermath of armed raids on cash-in-transit vehicles in the previous week and two foiled attempts the previous day.

At a very frank and positive meeting, I impressed upon all stakeholders the absolute priority of ensuring that the movement of cash in the State would be governed by best practice. The stakeholders reported to me on progress being made in implementing the agreed voluntary code of practice. While I was heartened to learn from the meeting that a continuous strategy of improvement is now in place, I informed the companies that I would like to speed up these reforms and that there was a need to ensure continuous improvement in standards on the part of the financial institutions and the security companies.

I told the meeting that I supported the decision of the chief executive of the Private Security Authority who had indicated her intention to bring forward, at the earliest opportunity, licensing for the cash-in-transit sector of the security industry. I also confirmed that adherence to the code of practice will be an integral part of the licensing regime and the companies who do not comply with the code of practice will not be licensed to operate in the cash movement sector. In this context, I stated that I was prepared to discuss any difficulties being experienced by the companies while underlining that all those in the cash movement business must take full responsibility for the security of the cash in their care at all points along the supply chain.