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Question

100. Deputy Terence Flanagan asked the Minister for Justice and Equality the position regarding legislation in relation to cash-for-gold outlets (details supplied); and if she will make a statement on the matter. [21082/15]

Answer

Minister for Justice and Equality (Deputy Frances Fitzgerald): I am aware, of course, of the type of concerns outlined in the details supplied by the Deputy and I am examining the best approach to regulation in the area of cash for gold business providers, having regard to the potentially significant impact on legitimate businesses. It is important to recognise that any legislation in this area would have a potentially significant impact on a broad range of businesses. There are a large number of legitimate businesses such as jewellers, antique dealers etc., as well as ‘cash for gold’ outlets that would be impacted upon.
As the regulatory and resource burden of any proposed measure requires careful examination to ensure that it is proportionate to the matter being addressed, officials in my Department have drafted a proposed consultation documentation setting out potential options for addressing this issue. This document outlines the potential impacts, likelihood of achieving desired objectives and the potential regulatory burden and costs associated with each option.
This document will be submitted to me for consideration in the near future and it is my intention that it will, thereafter, be issued for consultation with relevant stake-holders.