Written answers

Thursday, 7 November 2024

Department of Finance

Regulatory Bodies

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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67. To ask the Minister for Finance further to Parliamentary Question No. 232 of 15 October 2024, when he became aware that the Central Bank was or was to become, the ‘home’ country for Israeli bonds within the EU; and if he will make a statement on the matter. [45804/24]

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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68. To ask the Minister for Finance when sanctions could be applied if the Central Bank of Ireland chose to not approve or withdraw approval of the prospectus of Israeli bonds without providing a legal basis; and if he will make a statement on the matter. [45805/24]

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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69. To ask the Minister for Finance if he is aware that the prospectus for Israeli bonds approved by the Central Bank of Ireland which allows the bonds to be sold across Europe does not include information on the fact that these bonds are used to fund to the ongoing genocide in Palestine; and if he will make a statement on the matter. [45806/24]

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
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70. To ask the Minister for Finance further to Parliamentary Question No. 232 of 15 October 2024, if he accepts that Israeli bonds are used to fund the ongoing genocide in Palestine; and if he will make a statement on the matter. [45807/24]

Photo of Jack ChambersJack Chambers (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 67, 68, 69 and 70 together.

As a matter of course, the Minister for Finance would not be made aware by the Central Bank of Ireland (CBI) of specific regulatory matters where the Minister has no role or function. As the Deputy will be aware, the CBI as the financial regulator is independent in its operations and I have no role or function as regards the application of the EU Prospectus Regulation. I would refer the Deputy to my reply to Parliamentary Question No. 232 October 15 2024 for further detail on this regulatory matter.

With respect to when sanctions could be applied in the event that CBI, in its capacity as the national competent authority for the Prospectus Regulation, decided not to approve or to withdraw approval of a prospectus, it would be a matter for the issuer to appeal such a decision to the Irish Financial Services Appeals Tribunal (IFSAT) or seek a review of the decision through the Irish courts. The IFSAT or the Irish courts as the case may be would then make a determination.

In terms of the information that is required in a prospectus, that is set out in Prospectus Regulation and, in terms of the regulatory function, it is solely a matter for the CBI to assess such information as the competent authority in this State. I have no role or function in relation to this regulatory matter.

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