Results 29,521-29,540 of 33,214 for speaker:Paschal Donohoe

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 will apply for individuals as well.

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: Where a regulated firm or an individual agrees to enter into a settlement agreement with the Central Bank, a reduction may be applied to the sanction. Details of the early settlement discount scheme are set out in the outlines of the administrative procedure of 2018. Once the terms of the settlement agreement have been agreed by the Central Bank and the regulated firm or individual, 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: 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: I will answer that question shortly.

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 will deal with the two points the Deputy has put to me. First, as to whether a financial services provider can pay the fine on behalf of an individual, yes, that is possible - it can. I am advised that changing that would require a lot of careful consideration regarding how it could be done and would take further legislative work. The answer to the Deputy's question is that, yes, it can...

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 do not believe we should pay people. We should not have to pay people for revealing wrongdoing or reward them for so doing. That is my initial reaction to it. With regard to people who bring forward information under whistleblowing legislation, in my experience, the overwhelming majority of them do it for good reasons. I worry that offering financial reward for that could send out 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: I believe the Deputy is correct.

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. 64: In page 71, line 34, to delete “has” and substitute “have”. This is a group of amendments that includes Nos. 65 to 67, inclusive. Amendment No. 65 removes a definition no longer required. Amendment No. 66 is a technical amendment to include all notices issued by the bank so that none are excluded. Amendment No. 67 provides clarity as...

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. 65: In page 72, lines 2 to 6, to delete all words from and including “In” in line 2 down to and including line 6 and substitute the following: “In this section, “inquiry decision” has the same meaning as it has in section 33AW of the Act of 1942 as substituted by section 53.”.

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. 67: In page 72, to delete lines 10 to 15 and substitute the following: “(3) Section 33AW of the Act of 1942 as substituted by section 53applies in relation to an inquiry decision made before the commencement of section 53if the decision has not, before that commencement, been notified by the Bank to the regulated financial service provider or person concerned....

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. 68: In page 72, between lines 15 and 16, to insert the following: “Disqualification under section 33AQ of Act of 1942 in case where contravention or participation occurred before commencement of section 46 93. (1) For the purposes of the imposition of a sanction in respect of the commission, before the commencement of section 46, of a prescribed contravention,...

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. 69: In page 72, between lines 15 and 16, to insert the following: “Continuing functions under section 33BE of Act of 1942 94. (1) A person who, before the commencement of section 66, has taken any action referred to in any of the paragraphs of subsection (4) of section 33BE of the Act of 1942, as amended by section 66, as the said subsection (4) applies in...

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 hoped to be in a position to go to Report Stage next week but that has not yet been confirmed to me. At this point it is very likely that the most we would get done is Report Stage in the Dáil next week. That means it will have to go to the Seanad in the new year.

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: I move amendment No. 39: In page 57, line 1, to delete “an order” and substitute “a direction”.

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. 66: In page 72, lines 7 and 8, to delete “under section 33AP of the Act of 1942” and substitute “by the Bank”.

Written Answers — Department of Finance: Banking Sector (15 Dec 2022)

Paschal Donohoe: I am advised by AIB that throughout the course of 2021 and 2022 Mr Raj Singh attended Board meetings on the following dates: Year Date 2021 28th January 2021 8th February 2021 17th February 2021 25th February 2021 4th March 2021 ...

Written Answers — Department of Finance: Tax Exemptions (15 Dec 2022)

Paschal Donohoe: Finance Act 2021 introduced Part 22A Residential Zoned Land Tax (RZLT) into the Taxes Consolidation Act 1997. The RZLT is designed to prompt residential development by landowners, including farmers, of land that is zoned for residential or mixed-use (including residential) purposes and that is serviced. RZLT is an annual tax, calculated at a rate of 3% of the market value of the land...

Written Answers — Department of Finance: Tax Collection (15 Dec 2022)

Paschal Donohoe: As the Deputy will be aware, the 9% rate for the tourism and hospitality sectors was reintroduced in Budget 2021 from 1 November 2020 to 31 December 2021 at an estimated cost of €401m. This measure was initially extended in Budget 2022 to 31 August 2022 at a further estimated cost of €251m. It was then extended again for another six months until 28 February 2023 at an...

Written Answers — Department of Finance: Business Supports (15 Dec 2022)

Paschal Donohoe: Details of the new Temporary Business Energy Support Scheme (TBESS) are set out in Finance Bill 2022. The scheme will provide support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023. The TBESS will be available to tax compliant businesses carrying on a trade or profession, the profits of which are chargeable to tax under...