279. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance if he has had any engagement with the Central Bank in relation to the approval process of Israeli war bonds up for renewed approval in September. [54684/26]

The Central Bank are the competent authority when it comes to the issue of prospectus approval and transfer.

The EU Prospectus Regulation provides for the transfer of the approval of a prospectus to the competent authority of another EU Member State; however, the Central Bank of Ireland have said it cannot comment on individual supervisory engagements owing to its professional secrecy obligations.

Furthermore, it is important to note that the Central Bank, as the financial regulator, is independent in its functions from the Government as is necessary in any well-functioning democracy and it would not be appropriate for a Minister for Finance to engage with the Central Bank on individual supervisory engagements owing to their professional secrecy obligations.

We as a Government believe that further action is necessary with respect to the EU's relationship with the State of Israel, which is why we are working with others to achieve co-ordinated action at EU level. Ireland will continue to call for concrete EU action in response to egregious Israeli breaches of human rights and democratic principles. This includes a call for a proposal to prohibit EU trade with Israeli settlements, to suspend the EU-Israel Association Agreement, or at a minimum to suspend the trade elements of the Agreement as previously proposed by the President of the European Commission. It is expected that the European Commission will bring forward options at the Foreign Affairs Council on 13 July, including on EU trade with Israeli settlements.

Earlier this year, I directed senior officials in my Department to engage with the EU Commission on this matter. Department officials subsequently liaised with their counterparts in the European Commission, drawing attention to the work of the Oireachtas, and in particular to the Joint Oireachtas Committee’s recommendation that the Prospectus Regulation be amended. This engagement reflected my view that the Commission should have regard to the report and its findings.

Officials outlined recent developments in Ireland and sought the views of the Commission on the possibility of a legislative initiative by EU Commission to address the Oireachtas Committee's issues.

In their response, the EU Commission officials indicated that they currently have no plans for a review of the Prospectus Regulation.

I have since specifically brought the JOC report and the Government’s views regarding the EU relationship with the State of Israel to Commissioner Albuquerque's attention, both in person and by letter. Ireland will continue to make its views know on this mater.