Written answers

Thursday, 18 December 2014

Department of Finance

Regulatory Impact Assessment Data

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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119. To ask the Minister for Finance if he will provide a breakdown of the regulatory impact assessments published by his Department since March 2011; and if he will make a statement on the matter. [49287/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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Since March 2011 a total of 5 RIAs have been published by the Department of Finance. They were completed in respect of the following pieces of legislation:

1. Central Bank (Supervision and Enforcement ) Bill 2011

2. Credit Union and Co-Operation with overseas Regulators Bill 2012

3. Credit Reporting Bill 2012in the form of the Report of the inter Agency Working Group on Credit Histories.

4. Irish Collective Asset-management Vehicles Bill 2014

5. Strategic Banking Corporation of Ireland Bill 2014

The Department of Finance undertakes Regulatory Impact Analyses (RIA) in accordance with the latest guidelines as published by the Department of An Taoiseach. A RIA is carried out where it is deemed necessary to do so in respect of a policy or programme that is being developed. It is used where one or more of the policy options involves new regulation or a regulatory change. The RIA structure facilitates the active consideration of alternatives to regulation or lighter forms of regulation. There are cases where a RIA is not required. For example, a RIA is not required in the case of emergency legislation or in the case of the Finance Bill.

A copy of each of the RIAs listed above is available on the Department's website.

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