Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I move amendment No. 111:

In page 39, before section 54, to insert the following new section:59.—(1) Nothing in the Taxes Consolidation Act 1997 prevents the disclosure to the Bank of information held by the Revenue Commissioners in relation to—

(a) qualifying companies, within the meaning of section 110 of the Taxes Consolidation Act 1997, or
(b) FVCs, within the meaning of Article 1 of Regulation (EC) No 24/2009 of the European Central Bank of 19 December 20083 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions.

(2) Information disclosed to the Bank by virtue of subsection (1) may be used by the Bank only in the exercise of the Bank’s functions and shall not be disclosed by
the Bank to any other person.”.

This amendment allows the Revenue Commissioners to share statistical information on financial vehicle corporations with the Central Bank.