Fiscal Policy Dail Éireann — 2026-04-21 ============================================================ Thomas Byrne (FF), Meath East On the alternative investment fund managers directive, the UCITS directive, the transposition was due to be done today but I am very sorry to say that this was not done by the Minister today. There will be a slight administrative delay. Work is continuing to finalise the draft statutory instruments. We hope the delay will be short and they will be ready for signature in the coming weeks. Everybody has to take responsibility for late transposition because it is a legal obligation on the State to transpose directives. One of my functions as Minister of State with responsibility for European affairs is to encourage Ministers to transpose directives on time. It is disappointing that this has not happened. The industry is rightly frustrated with this delay. I am grateful that Deputy Currie raised it. I agree it is essential that this directive is transposed as soon as possible. I will personally take that up with the Minister for Finance in the morning. A lot of people are starting to realise and be concerned about the issue of the deemed disposal rule on ETFs, which was also raised by the Deputy. That is something the Government could do. I have no doubt the Minister of State, Deputy Troy, and the Tánaiste will work towards that. I strongly encourage people to examine ETFs on the basis that perhaps Governments will look at this in the coming years and certainly within the relevant period from now. It is something the Government wants to do, as the Minister of State, Deputy Troy, and the Tánaiste have said. Our position in Ireland at the centre of the European funds ecosystem is a privilege and responsibility. By working together to support innovation and embrace opportunity while ensuring that our frameworks are robust, we can be confident that Ireland will remain a driving force in Europe's capital markets going forward. --- Source: Houses of the Oireachtas. Licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). The Official Report is revised after first publication; the fetch timestamp below identifies the version quoted. Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2026-04-21/debate/main Retrieved: 2026-09-21T01:01:08+00:00 Sitting date: 2026-04-21