Terence Flanagan
Question:280. Deputy Terence Flanagan asked the Minister for Justice and Equality her plans to introduce new regulation for cash for gold shops; and if she will make a statement on the matter. [48968/14]
View answerThursday, 18 December 2014
Questions (280)
Written answers
I am committed to examining the best approach to regulation in the area of cash for gold business providers, having regard to the potentially significant impact on legitimate businesses. It is important to recognise that any legislation in this area would have a potentially significant impact on a broad range of businesses. There are a large number of legitimate businesses such as jewellers, antique dealers etc., as well as ‘cash for gold’ outlets that would be impacted upon. As the regulatory and resource burden of any proposed measure will have to be carefully examined to ensure that it is proportionate to the matter being addressed I have asked officials in my Department to carry out a Regulatory Impact Assessment (RIA) which will facilitate a process of consultation with groups likely to be affected. The current position is that my Department is finalising a RIA which will comprise a detailed and systematic appraisal of the potential impacts of any proposed regulation in order to assess whether the regulation is likely to achieve the desired objectives and the potential costs that will arise. It is my intention to publish this RIA for consultation in early 2015.