Results 3,861-3,880 of 45,510 for speaker:Simon Harris

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: It is good to tease these matters out. Let me try to be clear. When we say conduct of business must be regulated by the Irish Central Bank, we refer to the interaction the bank has with its customer, and it is done here, whereas prudential issues such as solvency are regulated in Greece. The legislation is about consumer protection, which will be regulated by the Irish Central Bank.

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: The conduct of business by the Greek bank we are using as an example must be regulated by the Central Bank of Ireland. The Deputy may feel free to reflect on it between now and Report Stage. The suggestion that there is something going on in Greece, the Irish consumer has no protection here and conduct of business regulation is done in Greece is not true. In the Greek bank example, 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: Yes, but the prudential insolvency issue comes under the home regulator, in this case Greece.

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: The Department has discussed it with the Central Bank and is happy the Central Bank will have all the powers it requires under the existing framework in the example the Deputy cited. We have that assurance. The essence of the Bill is to ensure the Irish consumer has the same level of protection he or she had before the loan book was sold, which will be the case.

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. 20:In page 6, after line 42, to insert the following:“Obligation on credit servicing firm and holder of legal title to credit 5. The Central Bank Act 1997 is amended by inserting the following section after section 34F (inserted by section 4):“34G. (1) A credit servicing firm shall not, on its own behalf or on behalf of, or on the instructions of, a person...

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 welcome Deputy Boyd Barrett's acknowledgement that we are trying to address the concerns expressed on Second Stage by adopting a belt and braces approach. Without getting into an ideological debate on banking, a considerable number of people would like to take out mortgages to purchase their own homes. Home ownership is important for people in this country and many people want to get on...

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: Without sounding circular in my position on this, I do not see what is earth-shattering about the comment by the Minister for Finance that if one takes out a loan of €300,000, by signing on the dotted line one has committed to paying back that loan. If somebody decides to sell one's loan to somebody else, one still owes the money. We need to make sure that people in such...

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. 21:In page 7, line 17, to delete "paragraph (b)" and substitute "paragraph (c)". This is a technical amendment. The reference in the Bill as initiated should have been to "paragraph (c)" rather than "paragraph (b)".

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 hope I have got the right interpretation of the amendment. The Deputy can correct me if I do not. Section 6 amends the definition of an "eligible consumer" in section 57BA of the Central Bank Act 1942 to include a person whose loan is being serviced by a regulated credit servicing firm. This part of the 1942 Act deals with the Financial Services Ombudsman. The Deputy's amendment appears...

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. 27:In page 8, line 6, after "2014" to insert ", the Central Bank (Amendment) Act 2015". This is another technical amendment. The collective citation refers to all Central Bank Acts that may be cited together. The Central Bank (Amendment) Act 2015, which was enacted on 4 February, was not included in the original Bill as initiated.

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: The Deputy has flagged it for Report Stage.

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: At this stage I should signal to the committee that there may be further amendments on Report Stage. One possible amendment may centre around the requirements on credit servicing firms, arising from our discussions with the Central Bank.

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: Thank you, Chairman.

Written Answers — Department of Public Expenditure and Reform: Office of Public Works Properties (28 May 2015)

Simon Harris: The Commissioners of Public Works are committed to maintaining/increasing the income stream from mobile phone operators as part of their overall property asset management arrangements. The assets that generate this income form an integral part of the State Property Portfolio managed by the Commissioners, e.g. State owned buildings, Garda masts, etc., and therefore they have no plans to...

Seanad: Commencement Matters: Flood Prevention Measures (28 May 2015)

Simon Harris: I thank Senator Burke for raising this matter and for giving me the opportunity to provide some updated information to the House on our plans for Cork city. I thank Senator Burke for pursuing this matter with me on several other occasions over the past year. Work on developing a flood relief scheme for Cork city has been underway for some time. The scheme covers the area from Inniscarra...

Seanad: Commencement Matters: Flood Prevention Measures (28 May 2015)

Simon Harris: Senator Burke can be absolutely assured that the OPW will do all it can to expedite and progress the capital flood relief works with minimum delay within the resources available to it. The Senator and I had an opportunity to meet with representatives of the business community when I visited Cork earlier this year. We had a very good engagement and I was left in absolutely no doubt of the...

Written Answers — Department of Public Expenditure and Reform: Flood Risk Insurance Cover (9 Jun 2015)

Simon Harris: The flood referred to by the Deputy was caused by an extreme rain event. The gauge at the nearby Broadmeadow station on the Broadmeadow channel recorded the third highest flow in 37 years during this event causing flooding from channels and storm water systems. Storm drains, storm water systems and planning permission are the responsibility of the Local Authority. Meath County...

Written Answers — Department of Public Expenditure and Reform: Departmental Properties (9 Jun 2015)

Simon Harris: I propose to take Questions Nos. 379 and 380 together. I am advised that the Commissioners of Public Works assessed a total of six properties based on the brief of requirements from the Department of Social Protection. None were found to be suitable from a cost and operational perspective. While the Commissioners of Public Works have sole discretion as to which building is chosen, it is a...

Written Answers — Department of Public Expenditure and Reform: Boat Permits (9 Jun 2015)

Simon Harris: The Office of Public Works is aware that there is some capacity currently within the permitted boat operators at Skellig Michael and it is, in response, preparing a competition process to issue new Boat Permits. There are a number of legal issues to be assessed before any competition is held and these are being considered currently. If the relevant legal matters can be satisfactorily...

Written Answers — Department of Public Expenditure and Reform: Flood Risk Assessments (9 Jun 2015)

Simon Harris: The Office of Public Works (OPW) is currently undertaking, in partnership with its consultants, local authorities and other stakeholders, the Catchment Flood Risk Assessment and Management (CFRAM) Programme. This is a strategic approach that recognises the need, in line with international best practice, to move to a more sustainable, planned and risk-based approach to dealing with flooding...