Results 3,021-3,040 of 8,277 for speaker:Jennifer Carroll MacNeill

Seanad: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (16 Feb 2023)

Jennifer Carroll MacNeill: I will deal with each amendment in turn. Amendment No. 11 seeks to insert "rights and" after "the". The insertion of the text proposed in the amendment is already encompassed in the current wording. From a drafting perspective, it does not add anything to that which is already in the existing wording, and I do not accept the amendment. Amendment No. 12, which seeks to insert "or who are...

Seanad: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (16 Feb 2023)

Jennifer Carroll MacNeill: The point of the legislation is to extend a more significant regime to those who already have fitness and probity responsibilities and, as I have said, to the conduct standards to a much larger group of people, more junior in financial institutions, who will now come under a different regulatory regime. That is very important. Section 32L of the Central Bank Act 1942 provides that the...

Seanad: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (16 Feb 2023)

Jennifer Carroll MacNeill: As we have discussed, the purpose of the Bill is to provide a better regulatory structure in light of the difficulties we have faced. It adds to the suite of legislation and regulatory changes that have been made precisely for the reason the Senator outlined, which is to benefit society more broadly. We have seen the impact of the breakdown of regulation. As the Senator is aware, we have...

Seanad: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (16 Feb 2023)

Jennifer Carroll MacNeill: As I signalled on Second Stage, these are transitional provisions. They determine the extent to which an inquiry that is already under way at the time the relevant provisions of the Bill are commenced shall be affected by the provisions. It is important that the changes necessitated by the Zalewski judgment in regard to the appeal and court confirmation of inquiry decisions take effect at...

Seanad: Central Bank (Individual Accountability Framework) Bill 2022: Report and Final Stages (22 Feb 2023)

Jennifer Carroll MacNeill: I thank the Senator and understand the point she is making with these amendments. I have looked at them carefully. The Senator is trying to insert references to this "or other relevant legislation” and this set of obligations or other relevant obligations. Two difficulties arise with the amendments. One is they do not define relevant legislation or obligations, which we must do to...

Seanad: Central Bank (Individual Accountability Framework) Bill 2022: Report and Final Stages (22 Feb 2023)

Jennifer Carroll MacNeill: I thank Senator Black for raising this because it speaks to what we are trying to do with this legislation, who we seek to include and the significant expansion of people who will now come under this legislation. I understand the Senator wants accountability and reporting and that is important. However, the system for designated controlled functions and pre-approval controlled functions has...

Seanad: Central Bank (Individual Accountability Framework) Bill 2022: Report and Final Stages (22 Feb 2023)

Jennifer Carroll MacNeill: This amendment encapsulates what we are trying to do with this legislation, which is to add to the regulatory structures we have put in place, specifically, in response to the financial crisis. On speaking to the Central Bank today, it was careful to reiterate its mandate, which is around the protection of the financial system in Ireland, specifically, for the well-being of the people of the...

An tOrd Gnó - Order of Business (28 Feb 2023)

Jennifer Carroll MacNeill: I thank the Deputy for his question. The Department has been working with insurance companies to identify niche points of difficulty where people have not been able to access insurance. Where there are community events whose organisers work with local authorities, there may be an appetite to increase the risk profile. The most important thing is the implementation of the action plan for...

Credit Union (Amendment) Bill 2022 [Seanad]: Second Stage (28 Feb 2023)

Jennifer Carroll MacNeill: I move: "That the Bill be now read a Second Time". I am pleased to present the Credit Union (Amendment) Bill 2022 to the Dáil today. I want to begin by thanking my predecessor as Minister of State at the Department of Finance with responsibility for credit unions, Deputy Fleming, for his work on the Bill. Under his stewardship, the Bill completed its passage through the Seanad in...

Credit Union (Amendment) Bill 2022 [Seanad]: Second Stage (Resumed) (1 Mar 2023)

Jennifer Carroll MacNeill: I could update the Deputy on that.

Credit Union (Amendment) Bill 2022 [Seanad]: Second Stage (Resumed) (1 Mar 2023)

Jennifer Carroll MacNeill: I can update the Deputy. The opportunity was to provide funding of €900 million for the approved housing bodies, AHBs, and that has been there since 2018 or 2019. I believe less than €20 million of that has been utilised by the credit union movement. The opportunity has been there for some time but has not, unfortunately, been fully utilised. We would hope to see more of it...

Credit Union (Amendment) Bill 2022 [Seanad]: Second Stage (Resumed) (1 Mar 2023)

Jennifer Carroll MacNeill: Absolutely.

Credit Union (Amendment) Bill 2022 [Seanad]: Second Stage (Resumed) (1 Mar 2023)

Jennifer Carroll MacNeill: I wish to clarify for the Deputy that the corporate suggestion came from the credit union movement. It is an important clarification. The corporate model proposal came from the credit union advisory committee and its members would be other credit unions.

Credit Union (Amendment) Bill 2022 [Seanad]: Second Stage (Resumed) (2 Mar 2023)

Jennifer Carroll MacNeill: I welcome the opportunity to bring this legislation to the House. I hope Deputies will not mind if I echo their many tributes to my predecessor, the Minister of State, Deputy Fleming, who was the first dedicated Minister of State for credit unions and who put enormous work into this Bill in collaboration with the credit union sector and the Department. I take this opportunity to again pay...

Credit Union (Amendment) Bill 2022 [Seanad]: Referral to Select Committee (2 Mar 2023)

Jennifer Carroll MacNeill: I move: That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 95(3)(a) and 181(1).

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (7 Mar 2023)

Jennifer Carroll MacNeill: I thank the Deputy for the question. As he correctly said, the personal injuries guidelines were adopted in April 2021. They represent a central plank of the Government’s insurance reform agenda. Recent data from the Personal Injuries Assessment Board, PIAB, indicate that the overall average award has fallen by 38% compared with awards made in 2020 under the book of quantum. Given...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (7 Mar 2023)

Jennifer Carroll MacNeill: I reiterate the statistics I have mentioned. The price of motor insurance has fallen 9.1% in a year while inflation has been rising. I know the Deputy does not accept that and that he does not accept the CSO data but those are the data available and those are the statistics we have. I have seen it in my own insurance premium and in those of my constituents. These are the figures. They...

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (7 Mar 2023)

Jennifer Carroll MacNeill: I agree with the Deputy in that regard but I will go back to my point about the Private Member's Bill. In essence, it duplicates the national claims information database.

Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Industry (7 Mar 2023)

Jennifer Carroll MacNeill: I am afraid it does. The NCID has been enhanced to collect additional data following the introduction of the personal injury guidelines. The fourth private motor report, published in November 2022, shows some initial data on the guidelines up to the end of 2021. This will be developed in future reports. As Minister of State with special responsibility for insurance, I have engaged with...

Ceisteanna Eile - Other Questions: Insurance Industry (7 Mar 2023)

Jennifer Carroll MacNeill: I thank the Deputy the question. He is right to highlight the Office to Promote Competition in the Insurance Market established as a consequence of the action plan on insurance reform overseen by the Cabinet sub-group on insurance reform. The latest implementation report demonstrates that significant progress has been made, with 90% of the actions contained in the action plan now being...