Results 18,521-18,540 of 35,924 for speaker:Pearse Doherty

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: We have 1,300 shares.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: Do we have to provide anything to this bank for those shareholders? Is there a contingent liability in relation to those shareholdings? Is there a cost with those shareholdings?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: It is €25 million for 1,300 shares. Is that correct?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: How much is that per share roughly?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: My point is that if we had not dithered and waited, we would have got an extra 600 shares for free, which would have saved us about €12 million.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: I ask the Minister to just answer the question. Is that correct or false? Would we have got 600 shares for free if we had been one of the founding members? If we had one what some other European countries did, we would have got an additional 600 founding member share votes, which would have equalled our capital stock in the bank.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: So it would have saved €12 million.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: What about the 600 founding member votes?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: Would they have an influence on the benefits in terms of the distribution from the bank and the future of distributions to be made?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: As a result of not being a founder member, we have also lost "the privilege to designate the Director or an Alternate Director in its constituency permanently or on a rotating basis". Is that correct?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: I would appreciate that, but there are founding member privileges and we are not a founding member because we delayed this year. These privileges include the following, and I ask the Minister to correct me on this if I am mistaken: "The nomination and voting by Governors for Directors and the appointment of Alternative Directors by Directors shall respect the principle that each Founding...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: May I come back on that? Of those on that list, how many are founding members?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: All of them are founding members bar us?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: I wish to go back to the point I made earlier. I am reading from the provision titled "Founding Member Privileges". There must be respect for the principle "that each Founding Member shall have the privilege to designate the Director or an Alternate Director in its constituency permanently or on a rotating basis". This, to me, reads very clearly that we are at a disadvantage compared to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: Irrespective of whether or not we believe it was the right choice - I would dispute that with the Minister - this is black and white, not subjective. It is laid down in the articles of the foundation of the bank. There is a privilege assigned to the other European countries that are now deemed founder members regarding their right to appoint the director or an alternative director in the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: May I ask the Minister one last question on this section? Over the course of the year in which his Government was considering whether it would be good to go in and out and weighing this up - we should recognise that we lost some privileges as a result of that - what were the concerns that have been set to one side? What was it that had to be weighed up and was then set to one side that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Asian Infrastructure Investment Bank Bill 2017: Committee Stage (4 Jul 2017)

Pearse Doherty: On this section, again going back to the timing of this, this infrastructure bank has been around for more than 12 months so it is not the case that we just had to weigh it up for 12 months. What was the final date by which we could have applied to be in the first round, the first wave, which would have made us a founder member? Can the Minister also inform me when his officials or his...

Written Answers — Department of Finance: Banking Sector Data (4 Jul 2017)

Pearse Doherty: 86. To ask the Minister for Finance the name of the legal advisers, solicitors and barristers employed by a bank (details supplied) in respect of its appeal of a Financial Services Ombudsman ruling which was eventually withdrawn; the fees paid to each; and if he will make a statement on the matter. [30835/17]

Written Answers — Department of Finance: Tracker Mortgages Examination Data (4 Jul 2017)

Pearse Doherty: 87. To ask the Minister for Finance the fees paid to date by each bank and the Central Bank for services related to the tracker mortgage investigation, by service provider and bank; and if he will make a statement on the matter. [30836/17]

Written Answers — Department of Finance: Tax Yield (4 Jul 2017)

Pearse Doherty: 112. To ask the Minister for Finance the rate of duty on tobacco in each of the past ten years; the duty collected for each of those years; and if he will make a statement on the matter. [31359/17]