Results 4,761-4,780 of 6,295 for speaker:Michael D'Arcy

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I thank Deputy Pringle for the work he has done on this Bill. I also thank the staff and the bodies advising him, such as Trócaire. It is appreciated. I am somebody who wants to be helpful and I am very glad to hear the interaction between the Deputy and the Government agencies has been good. We have not gone all the way towards what the Deputy desires, but while we may not always...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: That is just amendment No. 1.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: Will I discuss amendments Nos. 2 to 8, inclusive?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: Amendment No. 2 will correct the Bill’s reference to section 2 of the National Treasury Management Agency (Amendment) Act 2014. The reference should instead be to section 37 of the Act. While section 2 of the Act outlines the definitions for the Act as a whole, it is section 37 which outlines the definitions in respect of ISIF. Therefore, any definitions arising out of this Bill...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: Should I speak on the Acting Chairman's amendment?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: Amendment No. 14 is necessary due to the numbering and ordering conventions of legislative drafting. The Bill proposes a new subsection. Due to the ordering of section 39 of the National Treasury Management (Amendment) Act 2014, this new subsection must be inserted before section 7. Therefore, this new subsection must be numbered 6(c) taking the same approach as for amendments Nos. 9 and...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: It is a transition fuel.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I said the opposite.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: We will not apply a money message. We want to come to an agreement with the committee on the Bill.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I wish to respond to a number of the points made. In terms of SMEs, which were raised by Deputies Martin Kenny and Pringle, in the Government amendment we capture those companies that would be fracking. A fossil fuel company is defined as one which wholly or mainly engages in the exploration, extraction or refining of fossil fuels. Those companies are all covered. I wish to clarify that...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: There is another unintended consequence I wish to mention. The State can potentially lose money through the global portfolio if the State is obliged to go into cash. There can be negative returns on that. Make no mistake, that is a fact. With interest rates at historically low levels for this period of time, if ISIF is obliged to move out of certain sectors and put money into cash it can...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 2:In page 3, line 13, to delete "section 2" and substitute "section 37".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 3:In page 3, line 13, to delete "new definition" and substitute "definitions".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 4:In page 3, line 14, to delete "enactment" and substitute "direction".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 5:In page 3, line 16, to delete "partly" and substitute "mainly".

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 6:In page 3, lines 16 and 17, to delete “extraction, refining, processing or delivery” and substitute “extraction or refining”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 7:In page 3, line 17, to delete “fuels (geological deposits);”,” and substitute “fuels;”.”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 8:In page 3, between lines 17 and 18, to insert the following:“ ‘fossil fuel’ means geological deposits of thermal coal and oil sands; ‘fossil fuel investment’ means an investment which is mainly in listed stocks and securities of a fossil fuel company;”,”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 9:In page 3, line 21, to delete “(7) Nothing” and substitute “(6A) Nothing”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Fossil Duel Divestment Bill 2016 [Private Members]: Committee Stage (19 Apr 2018)

Michael D'Arcy: I move amendment No. 10:In page 3, lines 22 and 23, to delete “investment, direct or indirect,” and substitute “fossil fuel investment”.