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Gnáthamharc

Proposed Legislation.

Dáil Éireann Debate, Thursday - 3 March 2005

Thursday, 3 March 2005

Ceisteanna (34)

Simon Coveney

Ceist:

30 Mr. Coveney asked the Minister for Finance if he will report on the purpose of the Dormant Financial Assets Bill, which appeared in the Government’s autumn 2004 legislative programme; the types of financial assets being considered for inclusion in the Bill; the reason the Bill no longer appears on the Government’s legislative programme; and if he will make a statement on the matter. [7177/05]

Amharc ar fhreagra

Freagraí scríofa

The intended purpose of the Dormant Financial Assets Bill was to extend the Dormant Accounts treatment of assets, other than life assurance and bank accounts, which have been dealt with in recent legislation. However, a secondary legislation approach can be adopted for some items and those requiring primary legislation can now be accommodated in the proposed Financial Services (Consolidation) Bill.

The purpose of the Financial Services (Consolidation) Bill is to consolidate and simplify financial services legislation, in accordance with the Government's Better Regulation agenda. The Bill may also accommodate certain amendments to related primary legislation, for example, legislation to deal with dormant financial assets. It is expected that this Bill will be published in late 2005.

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