Brian O'Shea (Waterford, Labour)
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Question 86: To ask the Tánaiste and Minister for Finance if the Financial Regulator has advised him as to the need for re-defining the definition of an investment instrument as stated in the Investment Intermediaries Act 1995; the substance of this advice; if he will make legislative proposals on the basis of this advice; and if he will make a statement on the matter. [7723/08]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I understand that the Deputy is referring to a question, relating to advice on the purchase of notional service by public servants, which I answered on 30 January last. I noted in my reply to that question that matters of this nature could be arranged directly with the relevant Personnel Section and that there was no particular need to obtain independent advice, unless the officer chose to do so. I also noted that with regard to the purchase of Additional Voluntary Contributions (AVCs) by public servants that I had asked my Department to contact the Financial Regulator and the Department of Social and Family Affairs to obtain their views on the case for any legislative amendment. My Department wrote to those bodies on 20 February and I will keep the Deputies informed of progress.