Written answers

Wednesday, 27 May 2009

Department of Justice, Equality and Law Reform

EU Directives

9:00 pm

Photo of Brian O'SheaBrian O'Shea (Waterford, Labour)
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Question 104: To ask the Minister for Justice, Equality and Law Reform the reason for the failure to implement the 2005 EU directive on money laundering by the deadline of December 2007; when the required legislation will be published; if he will confirm that there are enforcement proceedings imminent against Ireland for its failure to implement the directive; and if he will make a statement on the matter. [21484/09]

Photo of Dermot AhernDermot Ahern (Louth, Fianna Fail)
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Legislation to give effect to the 3rd EU Money Laundering Directive and the related Implementing Directive is at an advanced stage of drafting. The legislation will also have regard to relevant recommendations arising from the Financial Action Task Force (FATF) third mutual evaluation report (2006) on Ireland's measures to combat money laundering and the financing of terrorism. I am also taking the opportunity via this legislation to repeal and consolidate existing anti-money laundering provisions, which will be of benefit to all sectors and groups involved in the implementation and application of these measures.

As the Deputy is aware the transposition date for both Directives was December, 2007 and proceedings were subsequently brought against Ireland in relation to the transposition of these instruments. On 19 May 2009 the European Court of Justice delivered its judgment in relation to the 3rd EU Money Laundering Directive to the effect that Ireland has failed to fulfil its obligations under that directive. Proceedings in relation to the associated Implementing Directive are also in progress. I can assure the Deputy that the Government is treating this situation as a matter of considerable importance and urgency. Finalising the anti-money laundering legislation is receiving the highest priority. As I have previously stated, it is my intention is to publish the legislation during the current term with a view to its consideration by the Oireachtas as soon as possible after that.

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