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Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: I welcome Ms Feehily and her officials. I am delighted to be back on this very important committee. The fact is that the authorised officer was stood down in 2004 by the then Minister. Given that the report goes up to 2011, one would imagine that given the understanding, concern, respect and commitment of a top civil servant and that only six of the 283 cases are outstanding, in order to...

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: Could that be one of the reasons for the officer's concern? He may have a concern that the 700 entities may not have been subject to the full rigour of the investigation given the complexity and nature of the cases. To a degree, the authorised officer with the work of the Revenue, I noticed there was no concern here with the authorised officer being unhappy with the Director of Corporate...

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: The fact the file was referred to the Director of Corporate Enforcement, the Garda and the Director of Public Prosecutions is very important.

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: What do you mean by a relationship?

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: What of the Director of Public Prosecutions?

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: It was a decision of Government to appoint Mr. Ryan as the special investigator on this file. He was appointed by the Department of Enterprise, Trade and Employment to check out the Ansbacher files. In light of the fact that he was a very senior official to get that appointment, that there was due regard, concern and respect demonstrated by him in the conscientious manner in which he...

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: Apart from the issue of assurances, given the fact that he was appointed by a Minister to the role of special investigator on the Ansbacher accounts, working with the vested interests of the State, and having regard to his responsibility and duty of care and the fact that he, as a conscientious public servant, felt the need to put this matter on the record, for his own satisfaction, he having...

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: Yes.

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: Yes.

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: I appreciate that, and I have no doubt that Revenue did a conscientious and outstanding job, but in retrospect one can see that in terms of his case and the amount of work that was carried out by him, which initiated so many other inquiries, and his status in his own Department, it is unfortunate that there was not a round-table discussion on it that would have enabled it to be brought to a...

Public Accounts Committee: Investigations by Revenue into Authorised Officers Report (4 Dec 2014)

John Perry: I thank Ms Feehily and wish her very well in her new appointment.

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: What is the current value of the fund?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I am amazed that although the fund was established in 2011, only €3.5 million has been drawn down. I have been told the fund is to finish by 2015. I have listened attentively to all the questions asked. How does the board expect to clear the fund by 2015? The cumulative operational costs would be approximately €1.3 million on a distribution of €3.5 million, which...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I mention the re-emergence of the economy and the fact we are all hearing about restructuring. This is going on since 2011. Many credit unions need assistance. A fund was set up and the primary focus was to reignite business and reorganise small companies. There is a very good example in Kilkenny, where businesses are funded. We have the microfinance fund and the State guarantees up to...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Regardless of the State-----

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I have heard from the voluntary component and the community economic regeneration and social enterprise, which are very important in every community. We fully respect that. We are paying a huge price for that in terms of inaction. That is no compensation. There are 200,000 companies employing 700,000 people. We have had a total transformation of the banking circle, whether branches being...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I have seen it.

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: On that point, we know the demographics of the region, we know where credit unions are and we know of mergers that could never happen. All of that was well known before this fund was well established. This does not answer the question because we know only too well that the fund given by Government is very similar to the microfinance fund for small companies. Ten reasons were given as to...

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: Is Mr. Doyle telling me that the terms and conditions attaching to this fund, established in 2011, were only agreed two and half weeks ago? Is that correct?

Public Accounts Committee: Credit Union Fund Accounts 2013; Credit Resolution Institution Fund Accounts 2013; and Credit Union Restructuring Board Accounts 2013 (11 Dec 2014)

John Perry: I welcome the former Senator, Mr. Joe O'Toole. I am fully aware it has to be repaid. There is no free lunch anywhere but the fact the conditions of the fund, which was announced three and a half years ago, were only agreed two weeks ago is a major-----

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