It is proposed to take No. 7, motion re. Appointment of Information Commissioner, and No. 2, the Electoral (Amendment) Bill, 1998, Order for Second Stage and remaining Stages. It is also proposed, notwithstanding anything in Standing Orders, that No. 7 shall be decided without debate and that Second and remaining Stages of No. 2 shall be taken today. The proceedings thereon, if not previously concluded, shall be brought to a conclusion at 6.45 p.m. by one question which shall be put from the Chair and which shall, in relation to amendments, include only those set down or accepted by the Minister for the Environment and Local Government. Private Members' Business shall be No. 35.
Order of Business.
There are two proposals to put to the House. Is the proposal for dealing with No. 7 agreed to? Agreed. Is the proposal for dealing with No. 2 agreed to? Agreed.
The Government has announced it is setting up a body to look at changes in the Central Bank's powers of supervision of banks, particularly regarding the defrauding of customers by banks, to ensure that that does not happen in future. How far advanced is this work? When does the Taoiseach envisage this legislation being introduced? Will it be priority legislation?
The Minister for Finance has announced his decision to establish a working group which will be chaired by the Department of Finance. He has invited representatives of the Central Bank, the Department of Enterprise, Trade and Employment and the Office of the Director of Consumer Affairs to participate. The Attorney General's office has been asked to assist in the assessment of the legal issues involved. The group's task will be to investigate the law and practice governing the provision of financial services in Ireland and the impact this has on consumers. The group will also consider what steps may be needed to increase public understanding of the regulatory systems, including the manner of their implementation. The Minister for Finance wrote to the Governor of the Central Bank and the Tánaiste on 30 March advising them of the establishment of the group and inviting nominees. The group will be set up as soon as possible.
Does the Taoiseach agree that setting up groups is probably the best way to slow down progress?
That question is not in order on the Order of Business.
It is a comment leading to a question. Is the Taoiseach aware that a spokesperson for the Government indicated last week that the existing legal arrangements were regarded as sufficient. How has that view changed so quickly?
As Deputy Bruton knows, people were shocked by last week's events. A number of investigations have been set up, but in the Government's view these would not cover one of the major issues raised last week, which related to the difficulties some State agencies had in reporting matters that had been investigated by them. The investigations being carried out into National Irish Bank are those conducted by the Central Bank, the Garda Bureau of Fraud, the High Court inspectors and the Arthur Andersen group on behalf of National Irish Bank. There are also two investigations into the CMI issue being carried out by the Revenue Commissioners and the authorised officer under the Insurance Act that the Minister for State, Deputy Treacy, set up. The office of the Director of Consumer Affairs is also investigating the matter.
I hope that all investigations will deal with National Irish Bank, but other issues were raised and the Minister for Finance has asked the Governor of the Central Bank to undertake, as a matter of urgency, an assessment of the laws relating to the Central Bank's role as regulator of the financial services sector. This assessment will include the procedures used to give effect to this role with a view to identifying the impact of these on consumers and in particular any gaps in consumer protection that need to be filled. This area was highlighted by recent events. There appears to be regulatory control, but how does that fit in with consumers' interests?
On a separate but related matter, the Minister for Finance indicated last week that a Bill would be introduced to deal with aspects of money laundering. It was indicated that professional advisers would be required to report suspected breaches of the law. When is this legislation likely to be tabled? Will it contain the only recommendation in the Beef Tribunal report, with which the Taoiseach will be familiar?
I will check, but I understand this only requires an amendment to an existing Act. I am not sure if primary legislation is needed. The Minister is preparing this as a matter of urgency.
I understand, subject to correction, that new legislation rather than an amendment to an existing Bill was promised. The Taoiseach might ascertain what is involved.
I have a note on this matter. The Criminal Justice Act, 1994, created the offence of money laundering and that lists designated bodies, mostly financial institutions, and activities. It is the Minister's intention to extend money laundering provisions to the professions he mentioned, subject to consultation. Discussions are taking place between officials and various representative bodies which will continue with a view to finalising the details of this proposal at an early date.
I welcome the Government's U-turn in establishing the working group to look into the operations of the Central Bank. We are faced with two possibilities. Either the Central Bank was negligent in its role or it does not have the power to protect the consumer.
The Deputy should ask a question appropriate to the Order of Business.
How soon can the Taoiseach introduce legislation to protect the consumer, assuming the Minister for Finance gets a reply from the Central Bank on the legal gaps in the next few days?
The Minister for Finance is to be congratulated on the speed with which he has moved on these issues in the last few days. He has asked the Tánaiste to request a similar assessment of this area from the Director of Consumer Affairs. The working group will consider both reports with a view to making any recommendations necessary to fill gaps that may be identified during its investigations. The group will be set up immediately on receipt of the names of nominees.
Will the Taoiseach appoint a representative of the Consumers' Association to the board of the Central Bank—
That is not appropriate to the Order of Business.
I welcome the publication of the traveller accommodation Bill given recent reports that only 1 per cent of travellers live beyond 65 years. Will that legislation be introduced urgently? Is there any intention to amend the recent Central Bank legislation, given widespread views that its powers are inadequate to deal with the allegations and admissions of banking fraud?
The traveller legislation was published today and the Whips will take it after Easter. I have dealt with the second matter. We will have to see the working group's consideration of the two reports I mentioned, those of the Director of Consumer Affairs and the Governor of the Central Bank. We will have to see what emerges from those reports. I hope that work can get under way speedily.
Last Tuesday and Wednesday the Government praised to high heaven the Door Supervisors Bill and then voted it down on the basis that the expert group had reported and legislation would be forthcoming.
A question please, Deputy.
As this legislation does not appear on any of the lists of Bills, what exactly is proposed in terms of legislation for door supervisors?
As the Minister stated in his contribution last week, the entire security industry will be dealt with in one Bill. The industry has been complaining about the lack of legislation for many years. It will take some time to prepare that Bill, but as the Minister said last week, it will be included in his next departmental list and will deal with the whole security industry.
On an issue that should be of interest to everyone in the House, when will legislation be introduced to enact the recommendations of the commission on Dáil boundaries?
After the Easter recess.
Is the Taoiseach happy with his?
Is Mr. Lacey happy?
The Taoiseach came out of it all right.
When is it proposed to take the Local Government Bill, 1998, which has just been published? In view of the outcome of a High Court case yesterday, will the Taoiseach consider introducing an amendment to the Control of Horses Act, 1996, to compel local authorities to have horses, which they cause to be seized, treated humanely? Perhaps they might take lessons from genuine horse lovers in Dublin in that regard.
With the Whips' agreement, the planning Bill will be taken after Easter. I do not know of any proposed amendment to the Control of Horses Act. As is generally the case, the outcome of the court case will be considered by the relevant Minister.
Has the report of the expert group on deafness been presented to the Minister and the Cabinet? Will legislation follow from that report?
That matter would be more appropriate to a parliamentary question.
I am asking about legislation.
Will legislation follow from the report of the expert group on the question of compensation and deafness claims?
Has legislation been promised?
Legislation is not anticipated on that matter.
I will assist my constituency colleague by asking a question on a related matter on which legislation has been promised. The national claims agency Bill could deal with this issue. When will it come before the House?
The legislation is being prepared in the Department of Finance, but it will not be ready until after the summer.
When will the parental leave Bill be presented to the House? Has agreement been reached on whether there will be paid or unpaid parental leave?
As far as I recall, that legislation must be introduced before the end of June.
The Minister had the long promised Bill to provide funding for private third level colleges in his hip pocket.
It has fallen out.
However, it appears from a recent statement that it will not be in place for the coming academic year.
A question, please.
This is particularly apt when the Minister reneged on a promise to provide grant aid for students in those colleges.
The Deputy cannot make a statement on the matter.
What will happen to the Bill? As in the case of the commitment to provide grant aid to the students, will it be reneged on or will we actually see it?
I hope the Opposition will support it.
The private third level colleges bonding Bill, which will provide financial academic protection for students in private third level colleges, is under consideration and I hope it will be introduced later in the year.
Will the Taoiseach ask the Minister for Enterprise, Trade and Employment to introduce necessary amendments to the Consumer Information Act to allow her to order banks to display full information on their scale of charges and interest rates to all customers?
That issue was dealt with at length last Thursday.
People want their money back.
I raise the matter in the context of legislation. The Consumer Information Act allows the Minister to order people to display certain information. If banks were required to display their interest charges customers would be assured that fraud is not taking place. Lack of information is the greatest facility for fraud.
The Deputy can take it that any necessary changes will be introduced following the review the Minister for Finance has asked the Tánaiste to undertake on consumer issues.
We do not need a review.
It is vital that people's concerns on the charges that are deducted from their accounts.
That information is not being given to them.
It should be displayed.
If these issues are not provided for in the legislation, the matter can be considered. People should know what banks are entitled to deduct from their accounts and I hope that will be the case.
They are not being given that information.
Pubs are required to display their charges. Why should banks not be required to do so?
We cannot have a debate on the issue. The Taoiseach has answered the Deputy's question.
He agrees with the Deputy.
When is it proposed to introduce the legislation the Minister for the Environment and Local Government promised to allow for directly elected mayors and chairpersons of local authorities?
We expect to have that legislation before the House in the autumn.