A Bill proposing new regulatory powers for the Central Bank has been announced as part of the Government’s programme of legislation for the spring session of the Dáil.
The legislation proposes to to replace the Central Bank and the Financial Services Authority of Ireland with a single entity, the Central Bank of Ireland Commission.
The programme was announced by Government chief whip Pat Carey after today’s Cabinet meeting as the Dáil returns for its first sitting after the Christmas break.
Today’s announcement comes amid continuing criticism from the Opposition that most of the promised Bills are not published in time. Fine Gael whip Paul Kehoe said yesterday the programme of legislation the Government publishes at the start of each session bears no relation with reality.
“I have said that on many occasions that it needs to bring out a set of realistic proposal. It publishes a document of proposed legislation that promises between 15 and 20 Bills. That figure has never been reached.”
The Labour Party said only eight of the 20 Bills promised for publication in the previous Dáil session had been published.
A spokesman said one of the most urgent was a Bill to allow the planned Dublin lord mayoral election to proceed in the summer.
Minister for the Environment John Gormley has said he will hold the election in June.
A spokesman for the Minister said yesterday that the Bill would be published early in this session.
Mr Carey said today the legislative and budgetary measures passed by the Dail in recent sessions had “helped to stabilise the Irish economy in the midst of a severe international recession”.
“The coming Dail session will now allow us to build on this record.”
He said key pieces of legislation to be published during the current Dail session would include the Minerals Development Bill, the Education (Patronage) Bill, Noise Nuisance Bill, Wildlife (Amendment) Bill, the Central Bank Bill and the Criminal Law (Defence of Life and Property) Bill.