In response to the Deputy’s question, the Department of Finance undertakes Regulatory Impact Analyses (RIA) in accordance with the latest guidelines as published by the Department of the Taoiseach. A RIA is carried out where it is deemed necessary to do so in respect of a policy or programme that is being developed. There are cases where a RIA is not required. For example, a RIA is not required in the case of emergency legislation. Neither is a RIA required for the Finance Bill which is exempted from the requirement in the Cabinet Handbook. In the period in question a total of twenty two Bills have been published by me as Minister for Finance. They are as follows:
1. Finance (No. 2) Bill 2011
2. Ministers and Secretaries (Amendment) Bill 2011
3. Insurance (Amendment) Act 2011
4. Central Bank and Credit Institutions (Resolution) (No. 2) Bill 2011
5. Finance (No. 3) Bill 2011
6. Central Bank (Supervision and Enforcement) Bill 2011
7. European Financial Stability Facility and Euro Area Loan Facility (Amendment) Bill 2011
8. Bretton Woods Agreements (Amendment) (No. 2) Bill 2011
9. Finance Bill 2012
10 Euro Area Loan Facility (Amendment) Bill 2012
11. European Stability Mechanism Bill 2012
12. Fiscal Responsibility Bill 2012
13. Betting (Amendment) Bill 2012
14. Credit Reporting Bill 2012
15. Credit Union and Co-operation with Overseas Regulators Bill 2012
16. Finance (Local Property Tax) Bill 2012
17. Euro Area Loan Facility (Amendment) Bill 2013
18. Irish Bank Resolution Corporation Bill 2013
19. Finance Bill 2013
20. Finance (Local Property Tax) (Amendment) Bill 2013
21. Betting (Amendment) Bill 2013
22. Finance (No. 2) Bill
Regulatory Impact Assessments were completed for the four following Bills, three of which were published;
1. Central Bank (Supervision and Enforcement) Bill 2011
2. Credit Union and Co-operation with Overseas Regulators Bill 2012
3. Credit Reporting Bill 2012 – in the form of the Report of the Inter-Agency Working Group on Credit Histories.
4. Fiscal Responsibility Bill 2012 – in the form of a Screening Regulatory Impact Assessment.
In regard to the Central Bank (Supervision and Enforcement) Bill 2011 and the Credit Union and Co-operation with Overseas Regulators Bill 2012, the RIA in respect of each was published before the publication of the Bill. In regard to the Credit Reporting Bill 2012, the RIA was published at the point of publication of the Bill.
In relation to Deputy Creighton’s question about promised Bills, there are currently 8 Bills proposed for publication by the Department of Finance during the 2014 legislative session. As the Bills are in the process of being drafted, the exact titles have not been decided upon but the promised Bills do include, for example, the National Treasury Management Agency (Amendment) Bill, the Irish Collective Asset Management Vehicle (ICAV) Bill, and the Customs (Amendment) Bill 2013.
In respect of the 8 Bills proposed, no final decision has yet been made on whether a RIA will be required. In the cases where a RIA is undertaken, we intend to publish it where appropriate.
