Results 6,641-6,660 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: I was not directly involved in the sales process itself but was kept informed by the NAMA Chairman on overall progress in relation to the sale of the NAMA Northern Ireland loan book. As the Deputy will appreciate, decisions on sales transactions are a matter for the NAMA Board in the context of its statutory independent commercial mandate. In light of the political...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: Neither NAMA, nor my Department, has carried out an assessment on the Northern Irish economy in relation to the sale of these loans.

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: The Department of Finance did not enter into any Memorandum of Understanding with NAMA, the ultimate purchaser, or any other third party in respect of the sale of the Northern Ireland loan portfolio. I am advised by NAMA that the Agency, likewise, did not enter into any such Memorandum of Understanding with any involved third party. The sale of NAMA Northern Ireland loan portfolio was...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: I can confirm to the Deputy that there were no meetings between my Department and NAMA's Northern Ireland Advisory Committee. The principal responsibility of the Northern Ireland Advisory Committee was to advise the NAMA Board in relation to strategy for its Northern Ireland assets. The Deputy will note that the NAMA Board, with my agreement as Minister for Finance, having...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015)

Michael Noonan: The NAMA Act provides for the establishment of Advisory Committees. Following discussions between the then Minister for Finance and the Minister of Finance and Personnel of Northern Ireland, it was agreed that an advisory committee would be established to advise the NAMA Board in relation to matters regarding NAMA's Northern Ireland assets. On the proposal of the then Minister for...

Written Answers — Department of Finance: Social and Affordable Housing Provision (7 Jul 2015)

Michael Noonan: The Department of the Environment, Community and Local Government is the Department primarily responsible for the formulation and implementation of policy and for the preparation of legislation in relation to housing. Any social housing funding mechanism would have to be in line with that Department's policy. My Department is always open to examining and discussing any proposals...

Written Answers — Department of Finance: Credit Unions Regulation (7 Jul 2015)

Michael Noonan: The Central Bank is independent in the exercise of its functions but the Governor or a Head of Function may be requested under section 32L of the Central Bank Act 1942 (as amended by the Central Bank Reform Act 2010) to appear before Committees of the Houses of the Oireachtas to address certain matters. It is the prerogative of the Joint Committee on Finance, Public Expenditure and...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (2 Jul 2015)

Michael Noonan: I thank Senator Darragh O'Brien for his contribution today and all Senators for their contributions on Second and Committee Stage. I apologise for not being here for the early Stages of the Bill. On account of the situation in Greece, over a ten-day period we have had Eurogroup meetings outside the country, one in Luxembourg and four in Brussels, as well as two full teleconferences. The...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (2 Jul 2015)

Michael Noonan: He can be assured it will be treated confidentially.

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Report and Final Stages (2 Jul 2015)

Michael Noonan: The legislation is not retrospective in so far as we use the word in legal terms. It is very difficult to legislate retrospectively. However, the legislation will apply to all loans as defined, regardless of when they were acquired, thus capturing loan books that have already been sold, which is the net point. A similar approach was used in 2013 on debt management firms. Also, when the...

Written Answers — Department of Finance: Ministerial Meetings (2 Jul 2015)

Michael Noonan: As the Deputy will appreciate, in view of the range of my remit as Minister of Finance I receive a large volume of representations, including requests for meetings from a broad range of sources, including members of the Oireachtas, local and voluntary groups and private individuals and companies. As my Office does not maintain a central register of all such requests for meetings or...

Written Answers — Department of Finance: Tax Reliefs Eligibility (2 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 63 and 64 together. I have no plans to extend the rent-a-room scheme to include guest accommodation lettings under AirBnB. This scheme is intended to increase the supply of rental accommodation by incentivising homeowners to rent out rooms in their principal primary residences to individuals on a residential basis. A copy of an e-brief in relation to the...

Written Answers — Department of Finance: Banks Recapitalisation (2 Jul 2015)

Michael Noonan: In recent years taxpayer funded bail outs of banks occurred all over Europe and indeed the world. A major problem facing governments was that authorities simply did not have the tools to manage their failure in an orderly manner. To address this problem the European Commission proposed a common EU-wide framework for the recovery and resolution of banks facing difficulties. This...

Written Answers — Department of Finance: Tax Code (2 Jul 2015)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary),...

Written Answers — Department of Finance: IBRC Loans (2 Jul 2015)

Michael Noonan: Officials in my Department have advised the Deputy that the information requested in this parliamentary question is not held by my Department and that the process of retrieving and collating the information would be undertaken by the Special Liquidators of IBRC. Given that the loan facility letters are not held in electronic format, the Special Liquidators have advised my...

Written Answers — Department of Finance: Money Laundering (2 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 68 and 69 together. The 4th Anti-Money Laundering Directive which was agreed on the  20th May 2015 covers a number of policy areas which come under the responsibility of a range of Departments and Offices. Transposition is due by the 26 June 2017.  The issue of beneficial ownership of companies falls under the remit of the...

Written Answers — Department of Finance: NAMA Assets Sale (2 Jul 2015)

Michael Noonan: NAMA, in the context of its overriding commercial mandate, seeks to manage its portfolio in Ireland in a way that complements the objectives of other public bodies, including Government departments, State agencies and local authorities.  In line with this, I am informed by NAMA that in circumstances where public bodies initiate engagement with NAMA and indicate an interest in...

Written Answers — Department of Finance: Pension Fund Fees (2 Jul 2015)

Michael Noonan: I am advised by the Revenue Commissioners that the 0.15% stamp duty levy applying in 2015 to the market value, on the valuation date (30 June), of assets under management in pension funds and pension plans approved under Irish tax legislation falls due for payment not later than 25 September 2015. I am further advised by the Commissioners that the person responsible for payment of...

Written Answers — Department of Finance: Greek Government Bonds (2 Jul 2015)

Michael Noonan: Ireland participated with pooled bilateral loans to Greece under the Greek Loan Facility (GLF) in 2010. Ireland provided €347 million before stepping out of the GLF upon entering our own programme at end-2010.  Ireland also stepped out of being a guarantor for the European Financial Stability Fund (EFSF) after programme-entry and, therefore, Ireland is not a guarantor for the...

Written Answers — Department of Finance: Departmental Staff Training (2 Jul 2015)

Michael Noonan: The Department of Finance continues to invest in staff development in order to supplement the skills and qualifications of our teams, through a combination of internal and external training, learning and development. The Department strives to improve learning and development in order to develop greater professional, technical, management and leadership skills.  Using the Performance...