Pearse Doherty (Donegal South West, Sinn Fein)
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Question 178: To ask the Minister for Finance if there is an estimate of the funds held in trust funds in this State. [27429/11]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Central Bank that it does not hold or require regulated firms to provide it with any information in respect of funds held in trust funds in this State. Section 46(15) Capital Acquisition Tax Consolidation Act provides that the Revenue Commissioners must be informed when property becomes subject to a discretionary trust. However, this information would only relate to a small proportion of trusts and Revenue does not maintain any data system from which the information sought on funds held in trust funds in the State could be derived.