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Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Markets in Financial Instruments Bill 2018: Committee Stage (31 May 2018)

Michael D'Arcy: I do not have that.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Markets in Financial Instruments Bill 2018: Committee Stage (31 May 2018)

Michael D'Arcy: I am not saying that. Our analysis now is that the powers are with the ombudsman and that he has the authority to deal with it. It is a matter for his or her discretion. Deputy Michael McGrath is saying that we might have to bolster the Bill somewhat. We will scope that further with the ombudsman in order to see exactly how and why and I ask that the committee do the same. If there is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Markets in Financial Instruments Bill 2018: Committee Stage (31 May 2018)

Michael D'Arcy: We are saying is that it is not.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Markets in Financial Instruments Bill 2018: Committee Stage (31 May 2018)

Michael D'Arcy: No, we are satisfied that the legislation is sufficient to allow the ombudsman to investigate. What I am saying is that there is a matter of discretion on the part of the ombudsman's that he has to date chosen not to investigate any of these. We can only give the ombudsman the authority to do so but we cannot explicitly instruct him or her to do so.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Markets in Financial Instruments Bill 2018: Committee Stage (31 May 2018)

Michael D'Arcy: I am not sure that we can do that. That is the issue.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Markets in Financial Instruments Bill 2018: Committee Stage (31 May 2018)

Michael D'Arcy: As I have said, the matter must be just and equitable to both parties, not just one. We have worked hard on it and we feel as though we have pushed as far as we can. It might be that somebody else feels they can push a little further. We are not questioning the ombudsman on this. I am sure that this committee has authority to do so. On Report Stage, it is open to pursue it again. We...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Markets in Financial Instruments Bill 2018: Committee Stage (31 May 2018)

Michael D'Arcy: I move amendment No. 4:In page 6, after line 24, to insert the following:“(2) Section 2 of the Financial Services and Pensions Ombudsman Act 2017 is amended by the insertion of the following after subsection (2):“(3) Notwithstanding the fact that the financial service does not fix its duration to be of a term such as is referred to in paragraph (a) of the definition of...

Home Building Finance Ireland Bill 2018: Order for Second Stage (5 Jul 2018)

Michael D'Arcy: I move: "That Second Stage be taken now."

Home Building Finance Ireland Bill 2018: Second Stage (5 Jul 2018)

Michael D'Arcy: I move: "That the Bill be now read a Second Time." I am pleased to present to the House the Home Building Finance Ireland Bill 2018. It is a significant Bill which provides for the establishment of Home Building Finance Ireland, HBFI, which will give a much needed boost to the availability of finance for residential development in the State. HBFI is being proposed in the context of a...

Home Building Finance Ireland Bill 2018: Second Stage (5 Jul 2018)

Michael D'Arcy: No.

Home Building Finance Ireland Bill 2018: Second Stage (5 Jul 2018)

Michael D'Arcy: He lives in the same constituency as Deputy Burton.

Topical Issue Debate: Community Banking (5 Jul 2018)

Michael D'Arcy: The Department of Finance and the Department of Rural and Community Development were tasked with fulfilling a programme for Government commitment to thoroughly investigate the German Sparkassen model for the development of local public banks that operate in well defined regions. Both Departments prepared a report on the findings of their investigation which involved an analysis of the...

Topical Issue Debate: Community Banking (5 Jul 2018)

Michael D'Arcy: The Government recognises there are a number of positive principles underlying the concept of local public banking in general. It is committed to commissioning independent external evaluation of other possible ways in which the public bank concept could be promoted in Ireland. This could be by means of an online platform, leveraging the Strategic Banking Corporation of Ireland, the post...

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Michael D'Arcy: I mentioned it but the Deputy was not listening.

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Michael D'Arcy: It was 6,000.

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Michael D'Arcy: It is over three years.

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Michael D'Arcy: But?

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Michael D'Arcy: There is. It is three years.

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Michael D'Arcy: It is.

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Michael D'Arcy: That has nothing to do with the Bill.

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