Results 3,301-3,320 of 4,717 for speaker:Martin Mansergh

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: I occasionally provided a little drafting help to Sinn Féin in the past, but I will not do so on this occasion. The report on remuneration will not tell us how much the executives should be paid. It will advise the Government, which will then make a decision taking the report into account. As with any other report, we will not necessarily be bound by any or every recommendation in it.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: It is not possible to impose such chauvinist and protectionist thinking on the National Pensions Reserve Fund. The amendment is not acceptable. The scope of the Bill is such that it allows the Minister for Finance to direct the NPRF commission to invest in a listed credit institution. That means a credit institution listed on a stock exchange which has a trading presence in this country....

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: Recapitalisation is linked to a customer lending package to support credit availability. If we want our banks to act commercially to revive their credibility and profitability we cannot ring-fence their commercial activities within the State or the island. That would be contrary to EU rules.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: The mutuals are not covered in this section.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: They are a separate issue and are being dealt with by the Government separately.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: That is correct.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: I will deal with amendment No. 4 in general first. Section 6 of the Bill allows the Minister for Finance to transfer shareholdings or other assets to the fund. Paragraph (c)(5A) is the counterpart to that provision, allowing the commission to accept funds and other assets. Any shareholding or other interest transferred by the Minister under the powers provided in section 6 of this Bill...

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: It is a standard fee for a body that is receiving an investment. It is self-explanatory.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: It is paying the Exchequer.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: The due diligence takes place before recapitalisation.

Seanad: Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Bill 2009: Committee Stage (5 Mar 2009)

Martin Mansergh: Due diligence is a normal procedure when making an investment and the NPRF is obliged, simply as an investor, to do due diligence.

Seanad: Cross-Border Projects (5 Mar 2009)

Martin Mansergh: I appreciate the value and importance of ferry services across Lough Foyle and Lough Swilly. I have a clear memory of crossing Lough Swilly on 14 September 2007 to mark the 400th anniversary of the flight of the earls. The Department of Transport has no function in the future of the Lough Foyle and Lough Swilly ferry services. The Department of the Environment, Heritage and Local Government...

Seanad: Industrial Disputes. (5 Mar 2009)

Martin Mansergh: I thank Senator McFadden for raising this matter, which I am taking on behalf of the Minister for Health and Children, Deputy Harney. I do not doubt what the Senator said with regard to the value and importance of the services on offer at Portiuncula Hospital and people's concerns in respect of possible reconfigurations. I am familiar with these matters as a result of events in the area I...

Seanad: Industrial Disputes. (5 Mar 2009)

Martin Mansergh: There are ample conciliation procedures available in the health service and elsewhere. In general, Ministers are advised not to intervene in disputes of this nature. If they did intervene, we would rapidly reach a position where no dispute could be resolved without the personal involvement of the relevant Minister, and that would simply not be practical. I share the Senator's desire to see...

Seanad: School Accommodation (5 Mar 2009)

Martin Mansergh: I thank the Senator for raising this matter. Undoubtedly, he has the quietest voice in the Seanad. That is meant as a compliment. I am replying to this Adjournment matter on behalf of my colleague, the Minister for Education and Science, Deputy Batt O'Keeffe, who unfortunately cannot be present. Bishop Ahern national school, Leamlara, County Cork, has applied to the Department of Education...

Challenges facing the Health Service: Statements (10 Mar 2009)

Martin Mansergh: I wish to share time with Deputy Timmy Dooley. I will start by doing something that is probably unheard of in this House, which is to praise the HSE. I had the pleasure of opening a new facility owned by the Irish Wheelchair Association in Tipperary and both the association and those running the facility could not have been stronger in their praise of the co-operation they received from the...

Written Answers — Flood Relief: Flood Relief (10 Mar 2009)

Martin Mansergh: The river referred to forms part of the Brosna Catchment Drainage Scheme. Under the terms of the Arterial Drainage Act 1945, the Office of Public Works is responsible for maintaining the conveyance capacity of the channel to provide outfall for land drainage. Maintenance works are undertaken periodically, and in 2008, tree and debris removal was carried out by the OPW on the channel through...

Written Answers — Public Service Contracts: Public Service Contracts (10 Mar 2009)

Martin Mansergh: A Contract was placed by the Commissioners of Public Works to carry out enabling works to the internal and external fabric of the building, together with provision of furniture and fittings required. The work commenced in late July 2008. During the course of the works, and after investigations and excavations, a further programme of substantial works has been deemed necessary to address a...

Written Answers — Transfer Applications: Transfer Applications (10 Mar 2009)

Martin Mansergh: The processing of the application from the person (details supplied) will take in the order of eight weeks subject to receipt of the necessary paperwork from the candidates parent Department. As the current indicative completion date for the Office of Public Works (OPW) Regional Office in Claremorris is late 2011, OPW will review the timeline in respect of transfer job offers in late 2009....

Written Answers — Flood Relief: Flood Relief (10 Mar 2009)

Martin Mansergh: The flood alleviation schemes in Mallow and Fermoy are funded from the provision for such works in the National Development Plan, which is adequate to cover all future phases of the schemes. The ongoing availability of funds is of course subject to overall budgetary considerations.