Results 5,561-5,580 of 6,295 for speaker:Michael D'Arcy

Seanad: Finance Bill 2018: Report and Final Stages (11 Dec 2018)

Michael D'Arcy: In October 2016, the Department of Finance published a report on tax expenditures, which included a review of the treatment for tax purposes of trade union subscriptions and professional body fees. The review found that a scheme of tax reliefs for trade union subscriptions would fail to meet the evaluation threshold laid down by the Department's tax expenditure guidelines. The reinstatement...

Consumer Credit (Amendment) Bill 2018: Second Stage [Private Members] (12 Dec 2018)

Michael D'Arcy: I move amendment No. 1:To delete all words after “That” and substitute the following:Dáil Éireann resolves that the Consumer Credit (Amendment) Bill 2018 be deemed to be read a second time this day twelve months, in order to allow for completion of the Department of Finance’s examination of University College Cork’s report, ‘Interest Rate...

Consumer Credit (Amendment) Bill 2018: Second Stage [Private Members] (12 Dec 2018)

Michael D'Arcy: I will conclude. I consider it worthwhile to detail some of the work that needs to be undertaken before we take this option. We need to consider how to persuade the other approximately 50% of credit unions to take part in the PMC scheme, given it is crucial we have a truly nationwide scheme available and we currently do not. We also need to consider how to cater for individuals on low...

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: I welcome the opportunity to address the Seanad today on the Central Bank (National Claims Information Database) Bill 2018, which was published on 10 July 2018. This Bill seeks to provide the legislative basis for the Central Bank of Ireland to establish and maintain the national claims information database which was recommended by the cost of insurance working group in January 2017. Its...

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: I thank the Senators for their thoughts on this matter. There is a full focus on motor insurance. It is the only insurance which people are legally obliged to have. A person who brings a car on to the road is obliged to have the vehicle taxed and legally obliged to have it insured. There is no other legal obligation to have insurance. That is why the full focus is on motor insurance....

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: I apologise if I was but the Senator is well able for it. On the Central Statistics Office data on insurance costs, we accepted these data when they tracked the increase from the low point to the peak, which was almost 60%. We should accept the CSO data as prices go down given that we accepted them when prices went up. This is not my information or the Department's information. It is...

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: I will have a look at it. On the Central Bank of Ireland leeway that the Senator also highlighted, the Central Bank, as the regulator, is the appropriate body to do this. It has information on the insurance companies that cannot and will not be available to other bodies, including the CSO and PIAB. This is basically a technical structure to analyse information and present a report. We are...

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: I am not sure it will.

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: The Leas-Chathaoirleach is being generous.

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: The Leas-Chathaoirleach looks a bit tired.

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: I thought he might have nodded off a moment ago.

Seanad: Central Bank (National Claims Information Database) Bill 2018: Second Stage (12 Dec 2018)

Michael D'Arcy: It would be very helpful if we could get this Bill through the House before the end of the session. It contains an important suite of provisions that we need to implement. This is the really important stuff. The Senator highlighted that some of the recommendations are not being followed or have been delayed. While that is correct, this is important legislation. The Personal Injuries...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Committee Stage (18 Dec 2018)

Michael D'Arcy: These two amendments are being taken together and they remove the definition of securitisation for special purpose entities and the provision that securitisation for special purpose entities was not included in the definition of credit servicing firms subject to certain conditions. The second amendment also removes the provision that a person authorised to carry on the business of a credit...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Committee Stage (18 Dec 2018)

Michael D'Arcy: Nobody questions anybody's bona fides on this issue. The question is fair. The Bill was not designed to regulate private equity funds. Currently regulated by law are the agents, the credit-servicing firms. Deputy Michael McGrath presented this Bill and the Department of Finance and others participated in a very collegiate way to try to do the best we can for these structures. We have...

Seanad: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2018: Committee Stage (18 Dec 2018)

Michael D'Arcy: It is my intention the Bill will be commenced as soon as possible upon enactment, most likely in January of next year.

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Second Stage (18 Dec 2018)

Michael D'Arcy: The Bill, if approved by the Oireachtas, will facilitate Ireland’s future membership of both the African Development Bank and African Development Fund. The Bill will provide for the approval of the agreement establishing the African Development Bank and the agreement establishing the African Development Fund, and for the payments to be made to the bank and fund, respectively....

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Second Stage (18 Dec 2018)

Michael D'Arcy: I am here a lot.

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Second Stage (18 Dec 2018)

Michael D'Arcy: I assure Senator Higgins that I would be happy to address the matter of sovereign green bonds at any stage. It is a question of when this House can facilitate me. If there are any questions that I do not answer in these remarks, I will try to answer them on Committee and Report Stages. The African Development Bank and the African Development Fund make an important contribution to the...

Seanad: Central Bank (National Claims Information Database) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: I thank Senators for the constructive approach they have taken to considering this Bill. A number of relevant issues were raised in the House during the discussion of the Bill. I note that there is broad support for the essential purpose of the Bill, which is to enhance transparency and facilitate the use of data sharing and collection to the level we see in other jurisdictions. The...

Seanad: Finance (African Development (Bank and Fund) and Miscellaneous Provisions) Bill 2018: Committee and Remaining Stages (20 Dec 2018)

Michael D'Arcy: I propose to take amendments Nos. 1 and 2 as a group.