Dáil Éireann Debate, Tuesday - 19 October 2021
367. Deputy Noel Grealish asked the Minister for Finance the status of the central bank (individual accountability framework) Bill; when it will be available for pre-legislative scrutiny; and if he will make a statement on the matter. [50727/21]
View answerAs the Deputy will be aware, the Programme for Government includes a commitment to introduce a Senior Executive Accountability Regime (SEAR). The SEAR is a key element of the Individual Accountability Framework Bill and 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.
The General Scheme of the Central Bank (Individual Accountability Framework) Bill was approved by Government and published on the Department's website in July 2021.
www.gov.ie/en/press-release/4f16e-minister-donohoe-secures-agreement-to-draft-central-bank-individual-accountability-framework-bill.
The Bill is included in the Priority Legislation for Publication and Drafting for the Autumn 2021 session.
www.gov.ie/en/press-release/904c3-autumn-legislative-programme-published-by-chief-whip-jack-chambers/.
My officials are working closely with the Office of the Parliamentary Counsel on the drafting of the Bill.
I have written to the Chairman of the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach in accordance with Dáil Éireann Standing Order 173 for its consideration on pre-legislative scrutiny.
