Results 19,221-19,240 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 6: In page 9, between lines 4 and 5, to insert the following: “ 'principal Committee', in relation to a credit union, means a credit committee, credit control committee or membership committee;”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 7: In page 9, to delete lines 17 and 18.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 8: In page 9, between lines 30 and 31, to insert the following: “ 'strategic objectives' has the meaning given by section 76A(1);”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 9: In page 9, to delete line 32.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 10: In page 9, line 33, to delete “assistant' in relation to” and substitute “assistant', in relation to”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: What I am trying to do is clarify the position so that we are not chasing hares due to a misunderstanding. Then, as we go through the amendments, I believe Deputies will be able to isolate genuine areas of concern. If I cannot explain them by way of misunderstanding, then we will look at their concerns for Report Stage.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: Essentially we are looking at a wording that will ensure the credit union movement knows that the interpretation section applies to legislation which is applicable to the credit union movement. After giving Deputies the initial explanations in an attempt to narrow the ground, if we now look at amendments tabled by Deputy Doherty and others, we will refine the ground further, to see what is...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: Yes, but as I said, so that there is no misunderstanding about the interpretation section, that it only applies to legislation which is applicable to credit unions. It is not, by some subterfuge of a couple of words, trying to import legislation which does not apply. It is not that at all. It is just applying what is necessary to apply and then anything that is enacted here is a supplement...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 2: In page 7, to delete line 9.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I thank Deputies for their approach to the Bill.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I thank all Deputies for their approach to the Bill. It is important legislation. Even though we have all been very complimentary about the credit union movement it is also true that it did not escape unscathed from the collapse in the financial services industry consequent on the collapse of the construction and building industry. Some credit unions had moved away from their traditional...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: The Irish League of Credit Unions and its representatives, including its manager, has had ongoing contact with the officials charged with developing this Bill and considering amendments. I am of the view the league is more satisfied with the position now than it was when the initial correspondence was entered into with Deputies from all sides. The league still has some concerns and I hope...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Credit Union Bill 2012: Committee Stage (21 Nov 2012)

Michael Noonan: I move amendment No. 1: In page 7, between lines 5 and 6, to insert the following: “ 'chair' has the meaning given by section 55A(2);”.All the amendments I am moving today are technical in nature and none contains any policy content. For this reason, members need not have any concern in regard to policy issues. The Ceann Comhairle was willing to allow the amendments to proceed...

Written Answers — Department of Finance: Tax Collection (21 Nov 2012)

Michael Noonan: The Domicile Levy was introduced by section 150 of the Finance Act 2010. Returns and payments in respect of the Domicile Levy for any tax year are made in the following year. I am advised by the Revenue Commissioners that 11 persons submitted returns declaring a liability in respect of the Domicile Levy for the tax year 2010 (the first year for which the levy applied) and these persons paid...

Written Answers — Department of Finance: Organised Crime (21 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 55 and 56 together. I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and mineral oil tax and for tackling the illicit trade in tobacco and oil products, that they attach a high priority to dealing with these criminal activities. I am also advised by the Commissioners that in general claims about the...

Written Answers — Department of Finance: Tax Code (21 Nov 2012)

Michael Noonan: The VAT rating of goods and services is constrained by the requirements of EU VAT law with which Irish VAT law must comply. Defibrillators, other than implantable defibrillators, are liable to VAT at the standard rate, currently 23%. There is no provision in VAT law that would make it possible to exempt from VAT or apply a zero rate to the supply of such products. Under the EU VAT...

Written Answers — Department of Finance: Banking Sector Remuneration (21 Nov 2012)

Michael Noonan: The Deputy will be aware that I wrote to the Chairman of Irish Bank Resolution Corporation (IBRC) in April this year asking that the board of the bank consider a reduction of 15% in senior management salaries. He advised me that the board were of the opinion that it would not recommend implementing reductions at this time citing difficulties faced by the bank in retaining and attracting...

Written Answers — Department of Finance: Departmental Agencies (21 Nov 2012)

Michael Noonan: I propose to take Questions Nos. 59 and 60 together. I wrote to Mr John Corrigan, Chief Executive of the National Treasury Management Agency (NTMA), on 21 December 2011 asking him to draw the provisions of section 483 of the Taxes Consolidation Act 1997 to the attention of all NTMA employees whose salary exceeded €200,000. That section allows an individual to waive part of his or her...

Written Answers — Department of Finance: Tax Yield (21 Nov 2012)

Michael Noonan: I am informed by the Revenue Commissioners that the yield of Stamp Duties from the Life Insurance Levy, from introduction in 2009 to date in 2012, is as set out in the following table. Year €m 2009 8.7 2010 45.03 2011 31.6 2012 (to end October) 18.89 (provisional) The Life Insurance Levy is a Stamp Duty paid into the Exchequer.

Written Answers — Department of Finance: Tax Rebates (21 Nov 2012)

Michael Noonan: I have been advised by the Revenue Commissioners that the person concerned submitted an application in August 2012 for a refund of Exit Tax, not DIRT. The Exit Tax was deducted by a life assurance company from a payment made on the maturity of a life policy held by the person and his wife. In accordance with the provisions of section 730GA of the Taxes Consolidation Act 1997, for the...