Results 3,841-3,860 of 45,510 for speaker:Simon Harris

Written Answers — Department of Public Expenditure and Reform: Coastal Erosion (26 May 2015)

Simon Harris: The Office of Public Works recently received an application from Sligo County Council under the Minor Flood Mitigation Works and Coastal Protection Scheme for funding to undertake a study in relation to coastal flood and erosion risk management at Rosses Point, County Sligo. This application is currently being assessed and a response will issue to the Council shortly.

Seanad: Customs Bill 2014: Second Stage (26 May 2015)

Simon Harris: I am pleased to be here to debate the Customs Bill 2014, which was published on 3 October 2014. The purpose of the Bill is to consolidate, revise and modernise Ireland's existing national customs legislation, some of it dating back to the Customs Consolidation Act 1876. The Customs Bill can thus be seen as another significant milestone in the Revenue Commissioners' comprehensive programme...

Seanad: Customs Bill 2014: Second Stage (26 May 2015)

Simon Harris: I thank Senators for the welcome given by all sides of the House to the Bill and for their considered contributions on Second Stage. As I have stated previously and as Senators on all sides have reiterated, most of the customs legislation has stood since before the State was founded, in the form of the Customs Consolidation Act 1876. That Act has been extensively adapted and amended in the...

Business of Dáil: Motion (27 May 2015)

Simon Harris: He is wasting time.

Business of Dáil: Motion (27 May 2015)

Simon Harris: Why does the Deputy not just sit down?

Business of Dáil: Motion (27 May 2015)

Simon Harris: Is the Leas-Cheann Comhairle going to chair this House?

Written Answers — Department of Public Expenditure and Reform: Flood Relief Schemes (27 May 2015)

Simon Harris: The BandonFlood Relief Scheme is currently at tender stage for procurement of a civil works contractor. The pre-qualification process to provide a shortlist of contractors is completed and tender documents are currently being finalised and are expected to be issued very shortly by the Office of Public Works (OPW) to the applicants who were selected to tender for the project. The Skibbereen...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: Deputy Tóibín might recap, if he does not mind.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: My apologies.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I thank the committee for providing a few minutes for the switchover. I have followed some of the debate and I know the Minister has responded to some of the issues raised by the amendments. Let me add a few of my own thoughts on the matter. First, we must remind ourselves what this Bill is and is not about. The Bill is not about some of the issues that Deputy Boyd Barrett has raised....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: That is very reasonable of Deputy Fleming and I will try to be brief. The purpose of the legislation is to restore borrowers to the position they were in prior to the sale of their loan book. While we welcome the thrust of the Deputy's amendments, which seek to ensure that the Central Bank codes will continue to apply when loan books are sold, we are not in a position to accept the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I thank Deputy Fleming and appreciate the intention of this amendment. Although I agree with the Deputy's objective, I cannot accept the amendment as the provision is already made in the legislation. The Central Bank Act 1997, as amended, already specifies at section 29 that a person shall not carry on a regulated business unless the person is the holder of an authorisation. This Bill will...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: Yes, and existing firms are "grandfathered", in other words, they will have to have it within the three months.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: Within the three months, the existing firms are presumed to be authorised, but they have to have been authorised within the three months. If they have not gone through the authorisation process within the three months they will be operating illegally. They have a three-month period in which to go through the authorisation process. That is for existing firms. New firms will have to be...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I move amendment No. 16:In page 6, line 23, after “person” to insert the following:“(other than a regulated financial service provider taken to be authorised to carry on the business of a credit servicing firm by virtue of section 28(3))”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I thank the Deputy. The model which operates for regulation by the Central Bank is that a single entity is responsible and answerable to the Central Bank for actions it undertakes, or which are undertaken on its behalf. If a firm is undertaking credit servicing solely or exclusively for a firm which is already regulated, then the regulated firm is answerable to the Central Bank for any...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: No, the essence of what the Minister said was to ensure there is a regulated entity, somebody is answerable and there is consumer protection. The owner bank is responsible for everything the credit servicing firm does. Somebody is responsible at all times, therefore the consumer is protected. The practice currently takes place. As it stands, the regulated financial service provider is the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: That is the Deputy's understanding. Let me try to clarify exactly what the position is. There is no difference in emphasis between me and the Minister, Deputy Noonan.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: There is no rift. Do not get too excited. The hypothetical Greek bank to which Deputy Sean Fleming referred would be regulated for conduct of business by the Irish Central Bank. The idea that there is no link with the Irish Central Bank is incorrect.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: All regulated firms can outsource. This is the reality of the world in which we live. However, they must ensure the agents to which they outsource comply with regulation, or the regulated firm has the liability in terms of fines or sanctions. If an Irish bank hires a credit servicing firm, the Irish bank remains responsible. I do not see why we would double regulate, and I do not think it...