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Legislative Measures

Dáil Éireann Debate, Wednesday - 3 March 2021

Wednesday, 3 March 2021

Questions (204)

Pearse Doherty


204. Deputy Pearse Doherty asked the Minister for Finance the status of the legislation providing for the senior executive accountability regime; when it will be published; and if he will make a statement on the matter. [11530/21]

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Written answers (Question to Finance)

As the Deputy will be aware, the Programme for Government includes a commitment to introduce a Senior Executive Accountability Regime (SEAR). SEAR will drive positive changes in terms of culture, greater delegation of responsibilities, and enhanced accountability while simplifying the taking of sanctions against individuals who fail in their financial sector roles.

My officials are engaging with the Attorney General's Office in advance of submitting draft heads of Bill to Government so as to ensure that the correct balance is struck between appropriate additional powers for the Central Bank and the protection of individuals' constitutional rights.

My officials continue to consult regularly with the Central Bank throughout this process.

It is my intention that draft heads of Bill will be presented to Government for approval in the near future, and published thereafter.