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Dáil
‹ Order of Business

Financial legislation timetable

Summary

Deputy Bernard Durkan asks about the Central Bank consolidation Bill and credit guarantee legislation; the Minister expects the former in 2015 and says proposals on the latter are well advanced.

Bernard Durkan Deputy Bernard J. Durkan Fine Gael

Promised legislation includes a Central Bank consolidation Bill. Is it envisaged that this might be brought before the House earlier than anticipated in view of the important and broad scale of the legislation proposed to be consolidated? Might it be advisable to bring it before the House at an earlier stage? If so, can that be done?

Similarly, the credit guarantee (amendment) Bill is promised legislation. Credit being a sensitive issue, is it intended to have that legislation brought before the House? Has any work been done on the heads and when can we expect it?

Comment on this

On the first, the Central Bank Bill is a consolidation Bill. Its expected publication date is 2015. Given the nature of a consolidation Bill, it would not be amenable to being brought rapidly before the House, because it must be complete.

On the second issue, the credit guarantee Bill, my Department will be bringing proposals to Government to amend the terms of the existing Credit Guarantee Act 2012, and work is considerably advanced on that. As committed to under the original legislation, we have undertaken a review. Based on that review, we will be bringing proposals for reform to Government.

Comment on this