Tuesday, 23 July 2019

Questions (153)

Martin Heydon

Question:

153. Deputy Martin Heydon asked the Minister for Finance the primary legislation enacted since May 2016; and if the legislation in each case placed additional regulatory burdens on small and medium-sized enterprises. [31482/19]

View answer

Written answers (Question to Finance)

Please see below a list of primary legislation sponsored by me, enacted from May 2016 to 18 July 2019. Please note that this list does not include the legislation of bodies under the aegis of my Department.  Nor does it include the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2019 (‘the Brexit Omnibus Act’), of which I was responsible for certain parts, as I understand that information concerning that Act will be provided to the Deputy by the Department of Foreign Affairs and Trade as the Act was sponsored by its Minister.  Nor does it include the Consumer Protection (Regulation of Credit Servicing Firms) Act 2018 or other legislation which was sponsored by Private Members.

It is not possible for me to rule out, in relation to any of this legislation, whether it placed an additional regulatory burden on small and medium enterprises (‘SMEs’). The nature of legislation, secondary or primary, is to impose legal and/or regulatory obligations on people. Some of those obligations are likely to fall on SMEs, at least tangentially. I cannot rule out in respect of any of this legislation the possibility of the placement of additional regulatory burdens on SMEs. Having said that, I am always mindful of the effect of regulatory burdens, but inevitably whenever legal obligations are affected by legislation this will likely lead to the imposition of some regulatory burdens.

List of Acts sponsored by the Minister for Finance enacted from May 2016 to 18 July 2018

No.

Title of the Act

Date signed

1.

Finance (Certain European Union and Intergovernmental Obligations) Act 2016

26 Oct 2016

2.

Finance Act 2016

25 Dec 2016

3.

Financial Services and Pensions Ombudsman Act 2017

26 July 2017

4.

Asian Infrastructure Investment Bank Act 2017

26 July 2017

5.

Finance Act 2017

25 Dec 2017

6.

Insurance (Amendment) Act 2018

24 July 2018

7.

Markets in Financial Instruments Act 2018

29 Oct 2018

8.

Home Building Finance Ireland Act 2018

3 Dec 2018

9.

Finance Act 2018

9 Dec 2018

10.

Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Act 2018

26 Dec 2018

11.

Central Bank (National Claims Information Database) Act 2018

27 Dec 2018

12.

National Surplus (Reserve Fund for Exceptional Contingencies) Act 2019

26 June 2019