Results 15,061-15,080 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Money Laundering (16 Jul 2013)

Michael Noonan: European legislation has been adopted to protect the financial system and certain professions and activities from being misused for money laundering and financing of terrorism purposes. The anti-money-laundering obligations applicable in Ireland derive from the Third EU Money-Laundering Directive. The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 was enacted in July...

Written Answers — Department of Finance: Banking Sector Issues (16 Jul 2013)

Michael Noonan: It would not be appropriate for me to disclose the details of the persons that were partners and senior executives of the PWC Project Atlas engagement. The Special Liquidators have confirmed that they have received confirmation from PWC that no members of their valuations team are subject to any actual or perceived conflicts vis a vis IBRC.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (16 Jul 2013)

Michael Noonan: The Special Liquidators invited a number of firms (5) for the tender on tranche 1 and for tranche 2 (14). The Special Liquidators have confirmed that PWC were not the lowest on fees. The criteria used were as follows, for which each respondent was graded: - Process/ Execution methodology and ability - Knowledge of the portfolio and recent relevant credentials - Delivery team experience - Fees...

Written Answers — Department of Finance: IBRC Legal Cases (16 Jul 2013)

Michael Noonan: In November 2012, the then Board of IBRC, after taking legal advice, decided to institute proceedings against Ernst & Young the former auditors of Anglo, for their role in the audit of the Anglo accounts. I am advised that these proceedings have been continued by the Special Liquidators following their appointment in February 2013. In respect of INBS, I am advised by the Special...

Written Answers — Department of Finance: IBRC Liquidation (16 Jul 2013)

Michael Noonan: I am advised by the Special Liquidators that there are two members of KPMG who are currently involved in the Special Liquidation who had previously worked on the audit of IL&P at a senior management and partner level. I am further advised that, prior to those individuals carrying out any work in the liquidation, the Special Liquidators considered this position and came to the view that...

Written Answers — Department of Finance: Banking Sector Issues (16 Jul 2013)

Michael Noonan: I, as Minister for Finance cannot comment on individual cases, nor do I have any role in relation to the supervision of auditors.

Written Answers — Department of Finance: Mortgage to Rent Scheme Administration (16 Jul 2013)

Michael Noonan: The Mortgage to Rent scheme is a Government initiative to help homeowners who are at risk of losing their homes due to mortgage arrears. A pilot scheme was established in February 2012 and was extended nationally in June 2012, targeting those low income families whose mortgage situation is unsustainable and where there is little or no prospect of a significant change in circumstances in the...

Written Answers — Department of Finance: Programme for Government Implementation (16 Jul 2013)

Michael Noonan: The Programme for Government contains 53 commitments within the remit of the Department of Finance and significant progress has been made in implementing these commitments: 30 commitments have been implemented, 15 are on-going or underway, one is a matter for the independent Fiscal Council, two are a matter for the Department of Public Expenditure and Reform, while 5 are under review or...

Written Answers — Department of Finance: Consultancy Contracts Expenditure (16 Jul 2013)

Michael Noonan: The Central Bank of Ireland has advised my Department that it does not currently engage nor has it procured any such services over the last five years. In 2011, a one off specific service was provided by an external PR adviser at a cost of €169.40. However they have also advised my Department that as part of the National Payments Plan, marketing agencies have been and will be engaged...

Written Answers — Department of Finance: Motor Tax Yield (16 Jul 2013)

Michael Noonan: As the Deputy correctly points out, Motor Tax is one of the major sources of Local Government funding. However, the increase in revenue associated with Budget changes in motor tax over the last two years was destined for the Exchequer to reduce the deficit. As stated in the Revised Estimates for Public Services, a return, to be agreed between the Ministers for the Environment, Community...

Written Answers — Department of Finance: NAMA Loan Book (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 254 and 255 together. NAMA has acquired loans from the Participating Institutions that are secured, in the main, on unsold property at time of acquisition. I am advised by NAMA that, in respect of such unsold property, it requires its debtors and receivers to comply with all statutory obligations. NAMA advises that this includes the payment of...

Written Answers — Department of Finance: Code of Conduct on Mortgage Arrears (16 Jul 2013)

Michael Noonan: The Central Bank's Code of Conduct on Mortgage Arrears (CCMA) is a statutory Code issued under Section 117 of the Central Bank Act 1989 and lenders are required to comply with the CCMA as a matter of law. The Central Bank has advised me that it has the power to administer sanctions for a contravention of the CCMA under part IIIC of the Central Bank Act 1942. The CCMA applies to the...

Written Answers — Department of Finance: NAMA Legal Issues (16 Jul 2013)

Michael Noonan: In line with longstanding practice, I do not comment on matters which are before the Courts.

Written Answers — Department of Finance: NAMA Legal Issues (16 Jul 2013)

Michael Noonan: It would not be appropriate for me to comment on this matter which is currently before the courts.

Written Answers — Department of Finance: NAMA Loan Book (16 Jul 2013)

Michael Noonan: I am advised by NAMA that it has not commissioned any asset management companies. NAMA carries outs its own asset management and debtor management directly and otherwise its loans are serviced by the two participating institutions and, in the case of the former IBRC portfolio, by the Special Liquidators to IBRC.

Written Answers — Department of Finance: Garda Investigations (16 Jul 2013)

Michael Noonan: I can inform the Deputy that allegations made in a national newspaper by the person whose details were supplied relate to an investigation currently being led by the Gardaí and it would therefore be inappropriate for me or the Central Bank to provide any information on this matter. The Deputy will be aware that the Terms of Reference for the Nyberg investigation are a matter of public...

Written Answers — Department of Finance: Garda Investigations (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 264 and 265 together. As the Deputy will be aware the Gardaí are currently leading an investigation into these matters and it would therefore be inappropriate for me or the Central Bank to provide any information on this matter.

Written Answers — Department of Finance: Banking Sector Issues (16 Jul 2013)

Michael Noonan: I am advised that Anglo Irish Bank would have discussed a number of funding options with the authorities during September 2008. For more detail as to why the ultimate option of a blanket guarantee was adopted, I understand that my predecessor as Minister for Finance gave a detailed account of the lead up to the Government decision to introduce a bank guarantee to the Joint Committee on...

Written Answers — Department of Finance: Tax Yield (16 Jul 2013)

Michael Noonan: In Budget 2013, I announced that changes to the maximum allowable pension fund at retirement for tax purposes (the Standard Fund Threshold - SFT) and other possible changes to give effect to the commitment in the Programme for Government to cap taxpayers’ subsidies for pension schemes which deliver pension income of more than €60,000 will be put in place in 2014. A figure of...

Written Answers — Department of Finance: Departmental Expenditure (16 Jul 2013)

Michael Noonan: My Department has made no payment of fees to the person (details supplied) for the period in question.