Results 5,401-5,420 of 32,583 for speaker:Richard Bruton

Order of Business (23 Jun 2009)

Richard Bruton: The Taoiseach and the Government propose to have a guillotine on this debate and there will be an hour and a half for Committee Stage with 19 amendments having been tabled. This is not trivial legislation; it currently involves a guarantee of €400 billion worth of assets being covered by the State. Few of the amendments will be reached or debated. Contrary to what the Taoiseach stated a...

Order of Business (23 Jun 2009)

Richard Bruton: On a point of order, is it not the case that action under the Bill the Taoiseach proposes to rush through tonight cannot be taken without the introduction of a scheme, which must be approved by the Oireachtas, and, therefore, there is absolutely no rush with this legislation because a scheme would have to follow it? The Government cannot act over the summer months without the scheme-----

Order of Business (23 Jun 2009)

Richard Bruton: It is.

Order of Business (23 Jun 2009)

Richard Bruton: The Government cannot have the statutory instrument without a positive resolution of the House.

Order of Business (23 Jun 2009)

Richard Bruton: The Government could do the two together.

Order of Business (23 Jun 2009)

Richard Bruton: I wish to raise two issues. The Master of the High Court has talked of an avalanche of new cases of home repossessions happening in October. He has said that the Minister for Justice, Equality and Law Reform should be considering changing the jurisdiction of the Circuit Court to prevent those cases going through an expensive High Court procedure which, as we have already seen, is being...

Order of Business (23 Jun 2009)

Richard Bruton: It is not a mistake.

Order of Business (23 Jun 2009)

Richard Bruton: Is there any proposal to deal with the issue of the High Court jurisdiction?

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: I wish to share time with Deputy Kieran O'Donnell.

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: While the Title of this Bill, Financial Measures (Miscellaneous Provisions) Bill, sounds very innocent, the Bill has quite large implications. I am very unhappy with the way in which the debate is being conducted. This is not the first time, in the course of the banking crisis, that we have seen both policy and legislation being introduced on the hoof, without the opportunity for proper...

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: That is all very well but the Minister can say: "We have now made these commitments and simply cannot go back on them." We have no time to debate it now but when the Minister comes forward with the scheme he will tell us: "This is ready to go - AIB or Bank of Ireland have made huge commitments, they are ready to sign and the House must get this through." We have already seen this happen. We...

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: Yes.

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: I did not intend to share it evenly.

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: I will be fair. To each according to his needs.

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: I will not hold up proceedings. There is another element present. The moneys being taken in with the assets are being used to write off our contribution to the pension reserve fund. That is probably necessary in the present climate but there is no requirement on the Minister if this is to be repeated. We are setting a precedent whereby the Minister does not state what the sound principle...

Financial Measures (Miscellaneous Provisions) Bill 2009: Second Stage (23 Jun 2009)

Richard Bruton: However, I imagine this list does not include all those who might legitimately have the same expectations. I will return to some of the other elements as we go through the Bill but because time is so constrained and others wish to speak I shall leave it at that.

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Richard Bruton: I move amendment No. 1: In page 5, after line 40, to insert the following new section:

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Richard Bruton: The Minister says he can do nothing without a scheme. My reading of section 6(4) of the Credit Institutions (Financial Support) Act 2008, however, is that the Minister can proceed to provide financial support in a number of ways, namely, by individual agreement, by a scheme made by the Minister or otherwise. It continues to state that where the Minister proposes a scheme he must get the...

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Richard Bruton: Will the Minister also examine section 5? He is not seeking an extension of his own powers under section 5 beyond the date.

Financial Measures (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (23 Jun 2009)

Richard Bruton: I move amendment No. 2: In page 5, after line 40, to insert the following new section: "3.—Nothing in this Act shall permit the extension of any guarantee under this Act or Credit Institutions Financial Support Act 2008 to any form of Tier 1 or Tier 2 risk capital as defined under the Basel II Capital Adequacy Framework.". This is an attempt to delimit the authority of the Minister to issue...