Finance Sub-Committee to consider Central Bank (Supervision and Enforcement) Bill 2011

Ciarán Lynch, TD, Chairman of the Committee on Finance, Public Expenditure and Reform, said: “Following on from the Central Bank Reform Act, 2010, the Central Bank (Supervision and Enforcement) Bill 2011 was published in July 2011. That Bill enhances the Central Bank’s regulatory powers and strengthens the ability of the Central Bank to impose and supervise compliance with regulatory requirements and to undertake timely prudential interventions. Tomorrow, the Bill will receive detailed consideration and members will have the opportunity to propose and discuss any amendments to the legislation as published.

\"The Central Bank (Supervision and Enforcement) Bill 2011 will incorporate two private members Bills proposed by Deputy Michael McGrath who is a member of the Committee on Finance, Public Expenditure and Reform - Regulation of Debt Management Advisors Bill 2011  and Central Bank and Financial Services Authority of Ireland (Amendment) Bill 2011.  The Government accepted these two private members Bills and the Central Bank (Supervision and Enforcement) Bill 2011 will deliver on the Government's commitment to take on board and legislate for these two important areas. I would like to thank Deputy McGrath for his contribution which is an example of a collaborative and co-operative approach to legislation which is for the benefit for all.”

This meeting will start in Committee Room 4, Leinster House at 7pm on Wednesday, 24th April 2013 and, if not concluded, will resume at 10am on Thursday, 25th April in Committee Room 3 at 10am.

Committee proceedings can be followed live at: http://www.oireachtas.ie/parliament/watchlisten/

For further information please contact:

Ciaran Brennan,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2

P: +3531 618 3903
M: 086-0496518
F: +3531 618 4551

Committee Membership

Deputies

Richard Boyd-Barrett, People Before Profit
Pearse Doherty, Sinn Fein
Simon Harris, Fine Gael
Ciarán Lynch, Labour Party (Chairman)
Michael McGrath, Fianna Fáil
Dara Murphy, Fine Gael
Kieran O’Donnell, Fine Gael
Aodhán O Ríordáin, Labour
Billy Timmins, Fine Gael
Liam Twomey, Fine Gael