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02/14/2018 12:00:00 AM


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Doherty, Pearse

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Central Bank (Amendment) Bill 2018

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Central Bank (Amendment) Bill 2018\Second Stage
Bills\Central Bank (Amendment) Bill 2018\Second Stage

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Central Bank (Amendment) Bill 2018

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Deputy Pearse Doherty

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Pearse Doherty

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Snippet Contents:

Gabhaim mo bhuíochas d'achan duine a thug páirt sa díospóireacht inniu agus a léirigh tacaíocht don Bhille. Ní labhair aon duine inniu nach raibh sásta tacaíocht a thabhairt don Bhille agus tá mé iontach buíoch as an méid daoine a labhair agus a phléigh go mion an t-ábhar atá idir lámha againn inniu.
I welcome the contributions from all sides of the House. There is support from all sides of the House for the legislation. The Minister of State and the Government have qualified their support. They say they support the Bill in principle but they really do not want to see this legislation go any further because they talk about a more holistic approach. I have said there is a need for a suite of laws to be brought in. I accept this is part of the solution; it is not the total solution but it does not mean it is not worthwhile. I am determined to pursue this legislation through Committee and Report Stages and through the Seanad, as I did when we lifted the six-year rule in the legislation I drafted, in order that it will make a real difference to people's lives. We must move ahead with this Bill. Delay is not acceptable while thousands are being ripped off every day and bankers act with impunity. I do not have confidence that the Government will take the issue seriously. It talks about its seriousness and that it is considering two reports, one from the Central Bank and one from the Law Reform Commission. It is not serious about this issue and it cannot convince the House that it is.
The then Governor wrote on 18 August 2015 and told the Minister straight-up what was required. I will say exactly what he required. There was a lot of nitpicking at the legislation. I thank the parliamentary legal division for the support we got in drafting the legislation. The then Governor said in the last paragraph: That was a plea from the then Governor of the Central Bank in 2015 and we are asked to believe the Government is taking the issue seriously. We heard from the Minister when we previously raised this question that it considered it a number of times but it did diddly-squat about it. It is still not an offence to lie through one's teeth to the Central Bank, which is usually done, as the then Governor said, to cover up something else within the institution unless there was a specific request made for the information from the Central Bank. That is where the Minister and the Government are completely wrong.