Sub-Committee to Consider Committee Stage of the Finance (Miscellaneous Provisions) Bill and Motion on the Single Resolution Fund

The Select Sub-Committee on Finance will tomorrow meet to consider a motion on Intergovernmental Agreement on the Transfer and Mutualisation of Contributions to the Single Resolution Fund.

2nd November 2015

The Committee Stage of the Finance (Miscellaneous Provisions) Bill 2015 will then be taken with the Minister for Finance, Michael Noonan TD.

The meeting will commence at 5.15 pm in Committee Room 2 tomorrow, Tuesday, 3rd November 2015.

Access the Finance (Miscellaneous Provisions) Bill 2015 here.

Chairman of the Committee, Liam Twomey T.D., said “This Bill seeks to achieve a number of things. Firstly, it will enable the ratification of the Intergovernmental Agreement (IGA) to the Single Resolution Mechanism (SRM). Secondly, it provides for a transitional funding arrangement for the new Deposit Guarantee Scheme (DGS) contributory scheme. Thirdly, it ensures the continuation of existing regulations for the insurance undertakings not covered within the scope of the Solvency II Directive on insurance and reinsurance. Finally, the Bill proposes technical amendments to strengthen the legislation surrounding ‘directed investments’ in the National Treasury Management Agency (NTMA) (Amendment) Act 2014.”

“This is an important piece of legislation and, as a Committee we very much welcome the opportunity to meet with Minister Noonan tomorrow. Committee Stage really allows us to engage in the legislative process and examine the finer detail of the Bill with the Minister.

Committee proceedings can be viewed live here.

Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.

Ends

Media Enquiries:

Liam O'Brien,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +353 1 618 4484
M: +353 86 189 5098
liam.obrien@oireachtas.ie

Committee Membership:

Chair: Liam Twomey, Fine Gael

Deputies:  

Richard Boyd-Barrett (People Before Profit); Ciara Conway (Labour); Pearse Doherty (Sinn Fein); Alan Farrell (Fine Gael); Ciarán Lynch (Labour Party); Michael McGrath (Fianna Fáil); Kieran O’Donnell (Fine Gael); Brian Walsh (Fine Gael)