Central Bank (Supervision and Enforcement) Bill 2011
Committee Stage Amendments
The Minister for Finance, Michael Noonan T.D. has today issued a Consultation Document on the proposed Committee Stage Amendments to the Central Bank (Supervision and Enforcement) Bill 2011 which were approved by Government on 24 April.
The Consultation Document and Appendix of proposed amendments is available on the Department’s website.
The Minister said that the purpose of the consultation was “to ensure that all stakeholders are fully informed of the intent of the Committee stage amendments and can submit their views on what is proposed”.
These amendments are the result of a comprehensive collaboration between the Department and the Central Bank to improve and complement the provisions in the published Bill.
The Minister concluded “the Central Bank (Supervision and Enforcement) Bill 2011 responded to the regulatory failures of the financial crisis and these amendments will not only strengthen but give greater clarity to the new supervision and enforcement regime”.
Following the consultation process and further drafting and advisory input from the Office of the Attorney General, the Minister will seek further Government approval for the amendments to be published prior to Committee stage.