Results 29,401-29,420 of 33,214 for speaker:Paschal Donohoe

Seanad: Finance Bill 2022: Report and Final Stages (13 Dec 2022)

Paschal Donohoe: I have three points to make. First, the effect of what the Senator is proposing would mean having a different taxation regime for banks from what applies in the rest of the economy. That would be the effect. Second, I did not say the banks that are not subject to a pay cap do not employ people within our economy. I said they employ fewer people than Bank of Ireland, AIB and Permanent TSB....

Seanad: Finance Bill 2022: Report and Final Stages (13 Dec 2022)

Paschal Donohoe: The short answer to the Senator's question is that this issue is currently under debate within the EU. The Commission has proposed a new energy taxation directive and, as part of that, a discussion is under way on whether the tax exemptions for aviation and maritime fuel should be removed. As a participant in this debate, as a representative of the Government of a country with an economy...

Seanad: Finance Bill 2022: Report and Final Stages (13 Dec 2022)

Paschal Donohoe: I thank the Senators for the recommendations they have tabled. The data centres are associated with large companies, as Senators said, which are also large employers in Ireland. The retention of data centres within our country is a very important ingredient of how we can keep jobs within our country, especially in the context of changes happening in corporate taxation in the time ahead,...

Seanad: Gnó an tSeanaid - Business of Seanad (13 Dec 2022)

Paschal Donohoe: If the Cathaoirleach will accommodate it, I ask that there be a brief suspension to allow me to attend a vote in the Dáil.

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation (14 Dec 2022)

Paschal Donohoe: I entirely reject the premise of the Deputy's question that we are doing something that is about trying to appease the insurance sector. That is completely wrong. We brought forward a timed amendment to the Bill and we explained why in the Seanad. The first reason was because from the engagement my Department had with those who are involved in this area, in many cases, the presumption of...

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation (14 Dec 2022)

Paschal Donohoe: I thank the Deputy for raising this matter. As he acknowledged, the Government is limited in its interventions and response to this matter because these mortgages are independently regulated by the Central Bank. Anybody whose loan book was sold to an organisation like Pepper Finance has the same consumer protection as any other loan holder. I will raise the concerns the Deputy has shared...

Estimates for Public Services 2023: Motion (14 Dec 2022)

Paschal Donohoe: I move: That Revised Estimates for the Public Services for the year ending 31st December, 2023, be presented to the Dáil and circulated to members, pursuant to Standing Orders 95(1)(a) and 215.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I am referring to the new section.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I am informed there is a legislative basis under which the bank can write to the person who is not the subject of the inquiry to notify him or her of the inquiry. If the Deputy bears with me, we will get the legislative reference for him and share it with the committee.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: The answer to the Deputy's questions is "Yes", and during the course of the committee we will give him the legislative basis for that. This inquiry will have the ability to contact and acquire the attendance of persons other than the subject and we will provide the Deputy with the legislative reference for that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: The Central Bank already has a regulatory standards committee in existence but the changes we are making here are partially prompted by the Zalewski case. The committee is already in existence within the bank which is why in turn the ability is there to invite or to require the attendance of a person other than the subject. Now the Minister will have an oversight role in relation to the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: -----the genesis of his question is around why the committee has the ability to require somebody who is not the subject to attend. The reason for that is that we already have legislation in place that allows the committee to exist within the bank and it has the power to require somebody to attend but the changes we are making here are prompted by the Zalewski case.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: While I have been answering the Deputy's question, my colleagues have accessed the original piece of legislation which lays out the powers that he is understandably raising with me. The Central Bank Act 1942, under section 33BA, refers to the power and I will quote it at length to deal with the concern that the Deputy raised. It states: ... the [Bank] may, in writing - (a) summons a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Yes, it is. I understand this is a standard provision in civil law that the bank shall have regard to the balance of probabilities and in so doing, should have regard to all relevant matters including the final investigation report. Any submissions produced are provided in relation to the draft investigation report and any evidence adduced or submissions made during the inquiry. This is, I...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 30: In page 50, between lines 4 and 5, to insert the following: “(7) Section 33AP, except subsection (2), applies to an inquiry under subsection (2)(b) or (4)(b) of this section as it applies to an inquiry under section 33AO.”

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 31: In page 50, line 5, to delete “(7) At” and substitute “(8) At”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 32: In page 50, line 8, to delete “(8) A notification under subsection (7)” and substitute “(9) A notification under subsection (8)”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: It is there. Section 33ARA (1)(v) refers to "the duration of the period over which the person committed or participated in the prescribed contravention."