Leo Varadkar (Dublin West, Fine Gael)
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Question 126: To ask the Minister for Finance the occasions on which he did not carry out any form of regulatory impact analysis on statutory instruments, Bills and EU directives for the years 2006, 2007 and to date in 2008; the reason for this decision; and if he will make a statement on the matter. [23868/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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As a result of a Government decision on the 21st June 2005 Regulatory Impact Analysis must be conducted on all proposals for primary legislation involving changes to the regulatory framework (subject to some exceptions), significant Statutory Instruments and proposals for EU Directives and significant EU regulations when they are published by the European Commission.

During the years 2006, 2007 and 2008 Regulatory Impact Analyses were not carried out on the Statutory Instruments listed below. The reasons RIA's were not carried out range from the Statutory Instruments not "being categorised as 'significant', to being technical in nature or giving effect to legal provisions" already contained within the primary legislation. Regulatory Impact Analysis does not apply to Statutory Instruments made under the European Communities Act 1972, Financial Transfers Act 1992 and the Criminal Justice Terrorist Offences Act 2005 where those Statutory Instruments give effect to EU sanctions against persons and entities designated by EC Regulations as being associated with terrorist organisations or repressive regimes.

In addition to the Statutory Instruments there were a number of EU Directives and Regulations during the period 2006 to 2008 which did not require a Regulatory Impact Analysis carried out on them. Details of these are follows: 2006 Capital Requirements Directive (Comprising Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) and Directive 2006/49/EC of the European Parliament and of the Council of 14 June 2006 on the capital adequacy of investment firms and credit institutions (recast) as transposed by S.I. Nos. 660 and 661 of 2006. There was no need to perform a full RIA, as the Capital Requirements Directive had been the subject of extensive consultation at both national and EU level.2006/07 Reinsurance Directive and Transposing Statutory Instruments. The negotiation process for the Reinsurance Directive (2005/68/EC) was concluded in mid 2005, and it was published in late 2005. The negotiation phase had concluded prior to the introduction of the RIA process. The Directive was transposed by a series of SIs in 2006/2007.2007 Directive 2007/44/EC of the European Parliament and of the Council amending Council Directive 92/49/EEC and Directives 2002/83/EC, 2004/39/EC, 2005/68/EC and 2006/48/EC as regards procedural rules and evaluation criteria for the prudential assessment of acquisitions and increase of holdings in the financial sector. There was no need to perform a full RIA, as this largely technical Directive had been the subject of extensive consultation at both national and EU level.2008 European Communities (Settlement Finality) Regulations 2008. This was a technical legal recast. No specific significant implications were identified under RIA Guidelines to warrant undertaking a full regulatory impact analysis.