Results 23,181-23,200 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Financial Services Regulation (21 Jun 2016)

Michael Noonan: I have been informed by the Central Bank that it does not maintain a record of the number of commercial loans sold on by the original underwriter. Portfolio sales are considered as part of normal supervisory engagement where they are sufficiently material. However, the Deputy will be aware that legislation and regulations have been implemented by the Oireachtas and Central Bank to protect...

Written Answers — Department of Finance: NAMA Communications (21 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 151 and 152 together. Section 221 of the NAMA Act makes it an offence to lobby NAMA and an offence to not report such lobbying to the Gardai.   The section of the Act sets out what is meant by lobbying and contains explicit provisions regarding communication with NAMA in an individual's professional capacity or in the public interest. ...

Written Answers — Department of Finance: Tax Code (21 Jun 2016)

Michael Noonan: The 12.5% rate of corporation tax applies to the relevant trading profits of all companies regardless of their size and regardless of whether they are close companies or not.  Broadly, a close company is a company that is under the control of five or fewer participators or any number of participators who are directors.  A close company could be subject to a...

Written Answers — Department of Finance: Tax Code (22 Jun 2016)

Michael Noonan: I am advised by Revenue that it has made contact with the body in question on a number of occasions, the most recent being on 9 June 2016, requesting additional information in support of its application for charitable tax exemption. To date the body has not provided the level of information requested, which is delaying a final decision on the issue. To advance matters, it should contact...

Written Answers — Department of Finance: EU Meetings (22 Jun 2016)

Michael Noonan: I attended the Bilderberg meeting from 10-12 June 2016 in Dresden, Germany. I, like a number of European ministers, was invited to attend given my position as Minister for Finance. For further information, I would point the deputy to the Bilderberg Meetings website ()which includes information on the organisation's governance, steering committee, meetings, attendees, agendas and associated...

Written Answers — Department of Finance: Ministerial Travel (22 Jun 2016)

Michael Noonan: As the Deputy may be aware, I recently attended a number of meetings in Germany. The first of these was with my German counterpart, Minister Wolfgang Schäuble on the 9th June to discuss general economic matters and financial services issues of mutual interest to both Ireland and Germany. I also met with Jörg Asmussen, former member of the Executive Board of the...

Written Answers — Department of Finance: EU Treaties (22 Jun 2016)

Michael Noonan: Negotiations on the European Deposit Insurance Scheme have been ongoing at European Council working group since January. During those negotiations a number of Member States have queried whether Article 114 is an appropriate basis for the proposal. The European Commission, in its function as initiator of legislation in the European Union, proposes the legal basis for European...

Written Answers — Department of Finance: Single Resolution Mechanism (22 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 101 and 102 together. The European Commission published a proposal on a European Deposit Insurance Scheme (EDIS) in December 2015. Discussions chaired by the Dutch Presidency of the European Council have been ongoing on this issue over the past six months, culminating in a report to last weeks Ecofin Council meeting Common Backstop At...

Written Answers — Department of Finance: Mortgage Resolution Processes (22 Jun 2016)

Michael Noonan: StepChange Debt Charity Ireland launched its telephone advice service in Ireland on November 16th last, offering free and independent help for anyone struggling with debt problems. The charity offers a range of solutions to help people deal with their whole debt problem, secured and unsecured, including informal repayment plans, mortgage restructuring and insolvency. The Deputy...

Written Answers — Department of Finance: Banking Sector Regulation (22 Jun 2016)

Michael Noonan: There are now a number of measures in place to protect consumer borrowers. Key among these is the Consumer Protection Code 2012 ('the Code'). The Code, which is a statutory code issued inter alia under Section 117 of the Central Bank Act 1989, sets out many important protections for borrowers in relation to the sale of products (including mortgages), by imposing 'Knowing the Consumer and...

Written Answers — Department of Finance: Registration of Title (22 Jun 2016)

Michael Noonan: I am advised that the Registration of Titles Act was not relevant in the case of the acquisition of EBS by AIB. EBS was transferred to AIB pursuant to an acquisition conversion scheme under the Building Societies Act and is a whole-owned subsidiary of AIB. The bank has confirmed to me that there was no transfer of mortgage books between EBS and AIB as a result of that...

Written Answers — Department of Finance: Ministerial Functions (22 Jun 2016)

Michael Noonan: As the Deputy may be aware, under the Ministers and Secretaries Act 1924, a number of officials in my Department are authorised to authenticate by their signature, my office seal. Furthermore, the Public Service Management Act 1997 seeks to secure an appropriate devolution of authority and responsibility within Government Departments from Ministers to their officials. The Act provides a...

Written Answers — Department of Finance: Tax Code (22 Jun 2016)

Michael Noonan: Capital Acquisitions Tax (CAT) is the overall title for both Gift and Inheritance Tax. The tax is charged on the amount gifted to, or inherited by, the beneficiary of the gift or inheritance. For the purposes of CAT, the relationship between the person who provides the gift or inheritance (i.e. the disponer) and the person who receives the gift or inheritance (i.e. the beneficiary),...

Written Answers — Department of Finance: Tax Collection (22 Jun 2016)

Michael Noonan: As previously advised to the Deputy, Revenue applies statutory interest charges to all tax settlements, debt enforcement activity and phased payment arrangements. Over the last five years Revenue has collected almost €430m in interest on behalf of the Exchequer and its determination and effectiveness in this regard is a key component of the overall strategy for securing timely tax...

Written Answers — Department of Finance: Credit Union Fund (22 Jun 2016)

Michael Noonan: I have been informed by the Central Bank that section 44 of the Credit Union Act, 1997 as amended (the Act) provides that a credit union may establish a special fund to be used by the credit union for such social, cultural or charitable purposed (including community development) where it is approved by a resolution passed by a majority of its members present and voting at a general meeting. ...

Written Answers — Department of Finance: Dormant Accounts Fund (22 Jun 2016)

Michael Noonan: Dormant Accounts legislation is a matter for the Department of the Environment Community and Local Government (DECLG). The Dormant Accounts Act, 2001 (as amended) provides for accounts in credit institutions to be transferred to the Dormant Accounts Fund when an account has been dormant for 15 years. Credit unions are currently not subject to the dormant accounts legislation....

Written Answers — Department of Finance: Tax Data (22 Jun 2016)

Michael Noonan: I am informed by the Revenue Commissioners that the number of registered companies is included in the Annual Reports of the Revenue Commissioners table titled Volume of Business which is available on the Revenue Commissioners website. This table shows the number of companies for each year since 2001. This information was not published for years prior to 2001. It should be noted that this...

Written Answers — Department of Finance: Public Sector Allowances (22 Jun 2016)

Michael Noonan: I wish to advise the Deputy that all matters pertaining to public sector pay and allowances are dealt with by my colleague Minister Paschal Donohoe at the Department of Public Expenditure and Reform.

Written Answers — Department of Finance: Public Sector Staff Remuneration (22 Jun 2016)

Michael Noonan: I wish to advise the Deputy that all matters pertaining to public sector pay and allowances are dealt with by my colleague Minister Paschal Donohoe at the Department of Public Expenditure and Reform.

Written Answers — Department of Finance: Home Repossessions (22 Jun 2016)

Michael Noonan: As recognised by the Programme for Government, the Government attaches great importance to addressing the issue of mortgage arrears.  The Government wants to keep families in their homes and avoid repossessions insofar as possible. In this context, it is important to note that there are a number of protections already in place to protect borrowers in arrears. ...