Results 2,361-2,380 of 9,252 for speaker:Jim O'Callaghan
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: I thank the witnesses for appearing today. We are doing pre-legislative scrutiny on the Bill and I do not think there is any dispute as to the motivation or intention behind it. However, as legislators we need to check it out and see what the Department says in respect of it. The Bill is obviously based on the Fossil Fuel Divestment Act 2018, which amended the NTMA Act 2014 by putting in a...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: The purpose of the Fossil Fuel Divestment Act was to introduce statutory prohibitions and restrictions with respect to investment by ISIF in fossil fuel undertakings. Is it the Department's view that it is a good or bad idea to start identifying investments, which are regarded as politically or morally unacceptable?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: I think Deputy Pringle's Bill was introduced in November 2016. Once the Department and the Government got their hands on it there were obviously significant alterations made, which have lessened the impact it would have had, if it had just been introduced as originally drafted by Deputy Pringle. Do I take it, if the Bill we are looking at today is to be processed by Government, that similar...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: The Department's concern is that we would be outsourcing an executive decision to the United Nations for the purpose of designating companies, which were covered by Irish statute.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: Why? Is that because the Department's legal advice is that is not permissible?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: I turn to a potential solution. In most pieces of legislation introduced, which are based on an executive decision being implemented by a statutory enactment, there is a procedure within the legislation to allow the Minister to make regulations. Would the Department's concerns be met if the Bill provided that it was a matter for the Minister for Finance to designate a database of companies...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: I suppose a Minister could reach a determination on these issues independently, based on advice that he gets from within the Department. Would that be something that is outside the parameter of the expertise in the Department?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: I understand that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: Where is that right of appeal?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: If there was a statutory scheme in place, Mr. Gilvarry is saying there would have to be a right of appeal.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: Going back to a broader point, I would have thought the issue Mr. Gilvarry raised about the database could be resolved through a different type of drafting. Would he agree with that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: Mr. Gilvarry stated that we would be an international outlier. Is that because we would be relying on the UN database or is it the case that similar legislation which seeks to disadvantage companies that are investing in illegal Israeli settlements exists elsewhere?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: Does Mr. Ashmore know if we have detail-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: I thank Mr. Ashmore for his opening statement. Does ISIF have detail on how much is invested by ISIF in companies that are on the UN database of companies?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: How much is it? He may have said.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: Does Mr. Ashmore know the total financial amount that is invested?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: It is €13.6 million, so we are talking about a relatively small amount
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Illegal Israeli Settlements Divestment Bill 2023: Discussion (20 Mar 2024)
Jim O'Callaghan: Those investments are effected by external investment managers. Is that correct?