Results 1,541-1,560 of 34,618 for speaker:Seán Fleming

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: I am happy to clarify that. There are two positions here. There is the interim period, which is only for this round of AGMs up to the end of April. It can be extended if the Minister considers it necessary to do so, but it is on the basis that we will get there by the end of April next year. The only power being given to the board of directors is to proceed with an AGM. The issue of...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: I thank the Deputy. To deal with his last point first, there were consultations with the Central Bank. The existing legislation would allow the Central Bank, using its discretion, to defer AGMs until the end of April in any event. However, we believed it necessary for the Oireachtas to decide to put that on a legislative basis. There is provision in the Bill for further extension of the...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Second Stage (10 Dec 2020)

Seán Fleming: I thank all the Deputies for their contributions to the Second Stage debate. I acknowledge the work of the credit union movement, which is a volunteer movement. I also thank the directors, the boards of directors and the staff who work in all our credit unions. The point has been well made that they are community-based. Depending on the amount of time I have, I wish to address some of the...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Second Stage (10 Dec 2020)

Seán Fleming: I move: "That the Bill be now read a Second Time." The Finance (Miscellaneous Provisions) Bill 2020 has three core objectives. First, it amends the Credit Union Act to allow for general meetings, which are prohibited under current health regulations, to proceed; second, it amends the Fiscal Responsibility Act 2012 to increase the number of consecutive terms of office members of the Irish...

Seanad: Finance Bill 2020: Second Stage (8 Dec 2020)

Seán Fleming: Today, we discuss the Finance Bill 2020, which will give legislative effect to the budget for next year. The Bill has been the subject of detailed discussion in the Dáil and I expect that it will also be subject to detailed discussion and consideration here in this House. I look forward to the contributions of Senators. Ireland currently faces many challenges. Brexit could rightly be...

Seanad: Finance Bill 2020: Second Stage (8 Dec 2020)

Seán Fleming: I thank all Senators who contributed to the debate. I appreciate all of the points made. I have taken note of them but it will not be possible to respond to each of them in the time available to me. The budget was framed to deal with three particular issues facing us this year, namely, Brexit, the Covid-19 pandemic and climate change. These matters underpin the measures in the Finance...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: We are discussing a group of four amendments. Amendment No. 1 seeks to delete the €75 figure entirely, amendment No. 2 seeks to reduce it to €50, amendment No. 3 seeks to reduce the €75 figure to €1 and amendment No. 4 calls for a review to be laid before the House on the operation of this section of the Act within 12 months. As originally published, the Bill...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: I appreciate the additional comments that have been made by Senators in the second round of discussions on this measure. First, I must bow to Senator Casey, who knows the industry exceptionally well. Some people use the purchases. They purchase items before they leave the country and take those items with them. I hope, therefore, nobody is listening too carefully to that and starts...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: I have listened carefully to what everybody has said. The Minister for Foreign Affairs, Deputy Coveney, when he spoke on Second Stage of the Bill, said: ...there is a commitment from the Minister for Finance, Deputy Donohoe, to carry out that review. I reassure Senators that the Government will undertake that review over the next 12 months to see how that is impacting on the retail sector,...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: No.

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: Since I last spoke, a number of Senators have spoken. One Senator asked me to look at the big picture when I pointed out, for the benefit of people watching in order that they would understand what the debate is about, the maximum amount of VAT a person could be in a position not to claim back as a result of the new threshold of €75. If somebody spends €75, the maximum VAT in...

Saincheisteanna Tráthúla - Topical Issue Debate: Credit Unions (2 Dec 2020)

Seán Fleming: I thank Deputy Cahill for raising this issue relating to Clonmel credit union. He has been in contact with me about it on a couple of occasions in recent days. Normally, in the run-up to Christmas, as the Deputy outlined, the credit union would have paid out an interest rebate or dividend, having had its AGM and having received authorisation to make those payments. The Government...

Saincheisteanna Tráthúla - Topical Issue Debate: Credit Unions (2 Dec 2020)

Seán Fleming: I thank the Deputy for his remarks. As I outlined in my response, the prohibition on a virtual AGM is set out in the Credit Union Act 1997. It is not possible to change primary legislation by way of a statutory instrument. Much as I might like to be able to say otherwise, it is important to be clear and not to build up any false hopes that this could be an option. Statutory instruments...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage (2 Dec 2020)

Seán Fleming: As the Deputy rightly pointed out, this legislation, bearing in mind its original intention, has improved significantly in respect of identifying the identities of investors. If they are Irish, they will have to produce their PPS number, or the equivalent across the EU. Apart from that, a person will have to produce a passport. The Deputy has indicated that a company may sometimes have an...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage (2 Dec 2020)

Seán Fleming: The proposed amendments regarding beneficial ownership, which relate to the earlier stage, will enable the public to access certain beneficial ownership information regarding investors in an investment limited partnership and will ensure that the highest international transparency standards apply to the investment limited partnership. Part 5 of the Bill amends the Social Welfare...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage (2 Dec 2020)

Seán Fleming: It will be in the register of beneficial ownership, which will be maintained by the Central Bank. It will not be in the annual return. To get approval for a fund, the general partner has to lodge this information, and any amendment thereto thereafter, with the Central Bank. There is a register of beneficial ownership, which is separate from the annual return. That is where the names of...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage (2 Dec 2020)

Seán Fleming: There may be a small fee to inspect the register. I cannot confirm that yet. These names will, however, be on the Central Bank register.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage (2 Dec 2020)

Seán Fleming: If an individual invests, it is clear who he or she is. If a company invests, one will know who the shareholders are. The beneficial ownership threshold is clearly 25% so if there are three investors in a company which holds more than 25% of shares in a fund, the three beneficial owners have to be made known. It is not the case that a company must only declare one beneficial owner. Once...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Limited Partnerships (Amendment) Bill 2020 [Seanad]: Committee Stage (2 Dec 2020)

Seán Fleming: I thank the Deputy. On that issue, the Central Bank is the regulator of these funds. It is seen internationally as a very strong regulator. The Deputy points to the history in this area. There has been a strong response to that history with regard to improvements in how the Central Bank deals with this area and the level of supervision it provides. The usual complaint I get is that it is...

Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee and Remaining Stages (25 Nov 2020)

Seán Fleming: Members who were here for the debate know we had a discussion on these three amendments which were grouped for discussion purposes. There was one discussion on the three amendments. It was a group discussion and there was no separate discussion on each amendment. The grouping order was accepted by all Members before the debate commenced. It was agreed to discuss the three amendments...