Results 15,181-15,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Prize Bonds (9 Jul 2013)

Michael Noonan: Officials of my Department are exploring with the National Treasury Management Agency (NTMA) whether or not exemptions available under the Third Money Laundering Directive (2005/60/EC) and its Implementing Directive (2006/70/EC) may be applied to small value purchases of prize bonds facilitated on behalf of the State by An Post and the Prize Bond Company.

Written Answers — Department of Finance: Single Euro Payments Area (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 146 and 178 together. The aim of the Single Euro Payments Area (SEPA) project is to create a single market for euro-denominated retail payments. SEPA is an EU initiative that will change the way that these payments are processed across Europe. SEPA will allow payment systems users to make euro-denominated retail electronic payments to payees located in any...

Written Answers — Department of Finance: Banking Sector Investigations (9 Jul 2013)

Michael Noonan: Like every citizen in this country who is working hard to restore the Irish economy I am deeply disturbed by the taped conversations involving these Anglo executives in 2008 and dismayed to hear senior banking executives refer to the banking crisis with such arrogance. The Irish taxpayer has grimly endured the austere cost of the bank recapitalisation and the bank guarantee. They are...

Written Answers — Department of Finance: Central Bank of Ireland IT Operations (9 Jul 2013)

Michael Noonan: I am informed by the Central Bank that as a result of facilities works at the HP Santry data centre on 21st June, a power interruption lasting 15 minutes took place. The impact was minor and did not interrupt any business service of the Central Bank. I am also informed that migration to the HP data centre is in its early stages and the bulk of services are not yet live. Accordingly, it was...

Written Answers — Department of Finance: Property Taxation Administration (9 Jul 2013)

Michael Noonan: The Finance (Local Property Tax) Act 2012, as amended, provides for the charging of interest on overdue taxes at a daily rate of 0.0219 per cent per day, just under 8% per annum, the same as the rate chargeable in relation to other taxes under the care and management of the Revenue Commissioners. The legislation provides for the possibility of full or partial deferral in certain defined...

Written Answers — Department of Finance: Property Taxation Application (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 150 and 152 together. Based on the information supplied by the Deputy it is not possible to provide a definitive reply to these questions. However, the following information may be relevant. The Finance (Local Property Tax) Act 2012 provides for the possibility of deferring all or part (50%) of the LPT charge in cases where certain specified conditions...

Written Answers — Department of Finance: Property Taxation Administration (9 Jul 2013)

Michael Noonan: I am informed by the Revenue Commissioners that as the Local Property Tax (LPT) is a self-assessed tax it is a matter for the property owner to calculate the tax due based on his or her assessment of the market value of the property. For the purposes of LPT, values for properties under €1 million are organised into valuation bands, with an initial band from €0 to...

Written Answers — Department of Finance: Appointments to State Boards (9 Jul 2013)

Michael Noonan: Mr David Begg's appointment in 1995 to the Board of the then Central Bank and Financial Services Authority of Ireland (CBFSAI) was in the context of his role as General Secretary of the Irish Congress of Trade Unions.

Written Answers — Department of Finance: IBRC Staff (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 154, 167 and 168 together. Twenty National Treasury Management Agency (NTMA) staff assigned to the National Asset Management Agency (NAMA) have been recruited directly from the Irish Bank Resolution Corporation (IBRC) or its predecessor entities. All of these staff have been recruited on the basis of specified purpose contracts. The issue of a transfer of...

Written Answers — Department of Finance: IBRC Staff (9 Jul 2013)

Michael Noonan: I have been informed by the Special Liquidators that following the appointment of the Special Liquidator, 809 employee contracts were terminated in the Republic of Ireland. 802 employees were re-hired by the Special Liquidators on short term contracts to assist with the liquidation of Irish Bank Resolution Corporation Limited. The 7 employees who were not re-hired held senior positions within...

Written Answers — Department of Finance: Central Bank Board Meetings (9 Jul 2013)

Michael Noonan: The attendance records for Central Bank board meetings, for the period 2006-2009, are set out in the attached schedule. In relation to remuneration, Directors’ fees from 2006-2008 and part of 2009 were €17,500 per annum. In May 2009, Directors fees were revised downwards by 10% to €15,750 per annum. Central Bank and Financial Services Authority of Ireland Attendance at...

Written Answers — Department of Finance: Central Bank Board Membership (9 Jul 2013)

Michael Noonan: The information sought by the Deputy in relation to members of the Board of the Central Bank is set out in the schedule below. Surname First Name Appointed Term expired (incl. reappointments) McAleese Dermot 30-Jul-79 31-Jan-96 Ferguson Vincent A 17-Jun-83 16-Jun-93 O'Connor Stephen 17-Jun-83 31-Jan-96 Cromien Sean P 01-May-87 30-Apr-08 Walsh Mary 01-Jul-88 30-Jun-98...

Written Answers — Department of Finance: Bank Guarantee Scheme Administration (9 Jul 2013)

Michael Noonan: The Deputy refers in his question to an earlier related question to which I gave a written reply on 11 June, 2013. This reply was in response to the Deputy's request then for details of the breakdown of covered liabilities by bank as of 30 September, 2008. The details sought by the Deputy were communicated to my Department on the basis that the information was confidential and as being...

Written Answers — Department of Finance: IBRC Liquidation (9 Jul 2013)

Michael Noonan: I have been advised by the Special Liquidators that there were 24 safety deposit boxes in use when the Special Liquidators were appointed to IBRC. The Special Liquidators are currently reconciling the safety deposit boxes to determine ownership.

Written Answers — Department of Finance: Credit Unions Issues (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 160 and 162 together. An unsustainable debt position has been reached by many borrowers, which needs to be addressed for the benefit of both borrowers and lenders alike. The Central Bank is facilitating a voluntary co-ordinated approach among lenders to the resolution of multiple debts owed by distressed borrowers. The Central Bank is now carrying out a...

Written Answers — Department of Finance: Property Taxation Administration (9 Jul 2013)

Michael Noonan: I am advised by Revenue that any valuation amendments to Local Property Tax Returns must be in writing and must be supported by the appropriate evidence to explain or prove the need to decrease the value. Evidence can be in the form of recent sales or advertised house prices in the area, professional valuations or house price surveys for the area. On the specific case raised by the...

Written Answers — Department of Finance: Banks Recapitalisation (9 Jul 2013)

Michael Noonan: It is important to note that at no time was Anglo Irish Bank declared insolvent and the provision of capital and support by the Government has prevented insolvency. IBRC, the merged entity, comprising both Irish Nationwide Building Society and Anglo Irish Bank, remained solvent and in compliance with capital requirements up until liquidation on the 7th February 2013. Anglo Irish Bank was...

Written Answers — Department of Finance: Banking Sector Issues (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 164 and 165 together. The Office of the Director of Corporate Enforcement is responsible for the enforcement of breaches of company law and it is the function of the director of the ODCE to investigate if the former members of the Board of Anglo Irish Bank complied with their regulatory responsibilities and duties. As there are currently a number of court...

Written Answers — Department of Finance: Banking Sector Investigations (9 Jul 2013)

Michael Noonan: I have been advised by the Special Liquidators that they are currently reviewing the books and records of Anglo Irish Bank/ IBRC. The Special Liquidators will be meeting their obligations under Section 56(1) of the Company Law Enforcement Act 2001 and as such will be considering the adequacy of the books and records of IBRC as part of this report.

Written Answers — Department of Finance: Banking Sector Investigations (9 Jul 2013)

Michael Noonan: The Central Bank has advised me that it is not their practice to record telephone calls with regulated entities, but that phone calls on landlines in investment firm trading rooms are generally recorded, although there are no specific regulations that require this. The question of the recording of phone calls by investment firms is being reviewed as part of EU negotiations on the Markets in...