Results 20,281-20,300 of 27,019 for speaker:Michael Noonan

Topical Issue Debate: NAMA Court Cases (25 Sep 2012)

Michael Noonan: The more serious matter was discovered in the course of the Deloitte evaluation of what happened. It was then the transmission of data was discovered which was subsequently referred to the Garda Síochána. On 3 August, NAMA had no idea there was another potential offence involving the transmission of confidential data. There was no delay in dealing with the matter subsequently...

Written Answers — Department of Finance: Insurance Coverage (25 Sep 2012)

Michael Noonan: At the outset, the Deputy should note that in my role as the Minister for Finance I have responsibility for the development of the legal framework governing financial regulation. The day to day responsibility for the supervision of financial institutions is a matter for the Central Bank which is statutorily independent in the exercise of its regulatory functions. The Central Bank has...

Written Answers — Department of Finance: Fuel Rebate Scheme (25 Sep 2012)

Michael Noonan: As the Deputy is aware a working group was set up between officials of my Department, the IRHA and members of the Oireachtas. This working group had a series of meetings to discuss issues of concern to the haulage industry. I have recently received a submission from the group and I am considering the matters raised.

Written Answers — Department of Finance: Pension Provisions (25 Sep 2012)

Michael Noonan: I understand that the Deputy is referring to a query from a constituent regarding an approved minimum retirement fund (AMRF). AMRFs form part of the options introduced by Finance Act 1999 to provide control, flexibility and choice to certain individuals in relation to the drawing down of benefits from their pension plans. Prior to that Act, any person taking a pension under a defined...

Written Answers — Department of Finance: Tax Code (25 Sep 2012)

Michael Noonan: Ireland, as with other countries, has experienced an increase in fuel prices. This increase is an international phenomenon. Fuel prices are driven by a number of factors including the price of oil on international markets, exchange rates, production costs and refining costs. The rise in oil prices over recent periods reflected additional factors such as geopolitical uncertainty in Northern...

Written Answers — Department of Finance: Tax Yield (25 Sep 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant information available is in respect of income tax paid by individuals engaged in specialist medical practice activities. Hospital consultantsare classified on tax records as a constituent of specialist medical practice activities and are classified within the same economic sector as certain other health-related services, such as...

Written Answers — Department of Finance: Tax Code (25 Sep 2012)

Michael Noonan: I am assuming that the reference to “further measures announced in Budget 2012 with respect to the treatment of non-residents for tax purposes” refers to the amendment to the Domicile Levy legislation announced in Budget 2012 and implemented in section 136 Finance Act 2012. The Domicile Levy was introduced in Finance Act 2010 and was charged on an individual: - who in any year...

Written Answers — Department of Finance: Income Statistics (25 Sep 2012)

Michael Noonan: I am advised by the Revenue Commissioners that the estimated number of income earners earning more than €80,000 per year, estimated by reference to the income tax year 2012, is 180,100 and the corresponding number earning more than €100,000 per year is 104,600. Numbers are rounded to the nearest hundred. The figures are an estimate from the Revenue tax-forecasting model using...

Written Answers — Department of Finance: Tax Credits (25 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 100 and 101 together. I am informed by the Revenue Commissioners that the most recent basic data available on the number of taxpayers availing of the home carer tax credit is in respect of the income tax year 2010. There were 77,600 taxpayers availing of the home carer tax credit in 2010, of which 12,800 had a gross income of €80,000 and over. The...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (25 Sep 2012)

Michael Noonan: I am advised that the unauthorised disclosure was notified to the Office of the Data Protection Commissioner on 12 September 2012. I am advised also that NAMA has instituted legal proceedings against the former employee and his spouse seeking a number of reliefs, including an injunction to prevent them from using, disclosing and/or dealing with confidential information. NAMA is also...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (25 Sep 2012)

Michael Noonan: I am advised that NAMA employs a wide range of measures to prevent unauthorised disclosure of confidential data. These include practical measures such as the deployment of email monitoring technology to prevent email attachments from being forwarded to personal and non-corporate email accounts. IT controls also ensure that data cannot be saved from the NTMA network onto external storage...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (25 Sep 2012)

Michael Noonan: I am advised that the unauthorised disclosure was notified to An Garda Síochána on 12 September 2012 and that NAMA has provided, and will continue to provide, all information required by the Gardaí as part of their investigation.

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (25 Sep 2012)

Michael Noonan: I am advised by NAMA that it has instituted proceedings in the High Court against the former employee and his spouse seeking a number of reliefs, including an Order directing the former employee and his spouse to provide a full account on affidavit in respect of all confidential information that either of them has removed from NAMA, including the identity of all persons who have had access to...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (25 Sep 2012)

Michael Noonan: The deputy may be aware that at the request of NAMA, Ernst and Young initiated their own investigation into this matter; as this inquiry is ongoing it would therefore not be appropriate for me to comment further. However, I understand that there has been full co-operation between NAMA and Ernst and Young in the investigation of this matter.

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (25 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 107 and 108 together. I understand that there has been full co-operation between NAMA and Ernst and Young in the investigation of this matter. More specifically to your question, I am advised by NAMA that it has not to date deployed the firm of Ernst & Young as an adviser on potential loan sales transactions. NAMA further advises that when making an...

Written Answers — Department of Finance: NAMA Staff Unauthorised Disclosures (25 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 109 and 110 together. I am advised by NAMA that it has appointed Ernst & Young as receiver to 18 separate corporate entities across four NAMA debtor connections. I am advised that, to date, no asset realisations have taken place under these appointments. I understand that Ernst and Young was appointed by a syndicate of banks asadministrator to...

Written Answers — Department of Finance: NAMA Qualifying Investor Fund (25 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 111 to 113, inclusive, together. I am advised that NAMA, for and on behalf of the QIF, will make an announcement shortly as to the outcome of the tender competitions for investment manager and for custodian and fund administrator. I am further advised by NAMA that the Qualifying Investor Fund (QIF) is expected to be launched, subject to regulatory...

Written Answers — Department of Finance: Proposed Legislation (25 Sep 2012)

Michael Noonan: I wish to inform the deputy that the introduction of Real Estate Investment Trusts (REITs) legislation is being kept under review by my Department. I am aware of NAMA’s interest in this structure as another option in monetising its portfolio.

Written Answers — Department of Finance: NAMA Loan Offers (25 Sep 2012)

Michael Noonan: Prospective purchasers of assets controlled by NAMA debtors and receivers are required to sign a declaration under Section 172 of the Act confirming that they are not a connected party within the meaning of that section and of the NAMA Board’s Guidance Note on the Disposal of Real Estate Assets by NAMA Debtors and Insolvency Office Holders which is published on NAMA's website. As this...

Written Answers — Department of Finance: NAMA Loan Write-Downs (25 Sep 2012)

Michael Noonan: I am advised that, under Sections 99 and 202 of the NAMA Act 2002 and the normal rules of banking confidentiality, NAMA is precluded from disclosing the details of transactions involving debtors. I am also advised that the media report which has prompted the Deputy’s question is inaccurate.