Results 541-560 of 881 for speaker:Peter Power

National Management Agency Bill 2009: Report Stage (Resumed) (4 Nov 2009)

Peter Power: The Minister has indicated that the broad thrust and principle of what Deputy Burton is saying is taken on board and is under active consideration in terms of the word "sustainable". I think she will agree that at this stage-----

National Management Agency Bill 2009: Report Stage (Resumed) (4 Nov 2009)

Peter Power: It is.

National Management Agency Bill 2009: Report Stage (Resumed) (4 Nov 2009)

Peter Power: We accept that. The Minister is certainly taking that under consideration.

National Management Agency Bill 2009: Report Stage (Resumed) (4 Nov 2009)

Peter Power: We all would accept that we would want economic and social development to be sustainable, but we do not want certain activities or developments outlawed by having simply the word "sustainable" included.

National Management Agency Bill 2009: Report Stage (Resumed) (4 Nov 2009)

Peter Power: I make the point that such is the advice of the Attorney General, but the addition of the word "sustainable" certainly is under active consideration arising out of Deputy Burton's amendment and the comments which she has made today.

National Management Agency Bill 2009: Report Stage (Resumed) (4 Nov 2009)

Peter Power: I wish to address Deputy Shatter's point in the limited time available. It is an important point because all of us in our own constituencies face this problem of unfinished estates. Certainly, NAMA will have a potential role in that regard. Indeed, near where I live there is one of these unfinished estates. People have significant concerns in that regard. We can continue tomorrow.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: I am glad that Deputy Ring did not work himself up into a state of anger. God forbid what that might look like. I agree with many of the points Deputy Ring made regarding regulation, a separate issue in terms of this amendment. We all share the multiple objectives of wanting to have appropriate oversight and scrutiny, which will be the objective of the committee to which these reports will...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: To quote words of the Minister, the taxpayer is already deeply embedded in the banking system through our shareholding, but does that mean that because we have an interest in those banks the taxpayer, through freedom of information arrangements, by some other amendment or under this particular arrangement and Members of the Oireachtas would have access to the individual accounts or performing...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: There is a significant practical reason, if the amendment were to be accepted and enshrined in the legislation, that this would not serve the interest of the State or taxpayers. Clearly, if this sort of information on performing loans that were not causing any loss to the State were to be made available to Members of the Houses of the Oireachtas, and by extension to the public, this would...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: A part-time lawyer.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: I keep my hand in.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: I also failed to address the Deputy's point, although it was my intention to do so.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: We should examine the Minister's proposal and stress test it against the proposal before the House. Deputy Bruton's point is that there is a distinction to be drawn between default on a loan and proceedings being instituted. There are probably very few people in the House who, at some stage, perhaps in their youth, have not fulfilled all their obligations on all their loans at all times. I...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: With respect to the Deputy we are concerned here with Oireachtas oversight. We will deal with that amendment when we come to it. This amendment concerns the quality of the information that comes before the Oireachtas, not whether the court proceedings are held in camera.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: Of course we will be flexible but this point is not relevant to the amendment under discussion.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: As Deputy Burton has spoken about the point in detail I wish to respond briefly. This relates to amendment No. 89, which we are far from reaching. The Deputy seeks there to delete the provision which gives the court discretion, where it sees fit, to provide for in camera hearings. The issue was raised on Committee Stage. Since then the Minister sought the advice of the Attorney General on...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: I do not want to dwell on this point again.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: It has nothing to do with whether the Oireachtas is able to carry out its functions of scrutiny and oversight effectively on the basis of the reports that will come before it. The quality of the information set out in section 51(3) will provide that information.

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: I have listened carefully to Deputy Burton's points on tax policy and non-residents. It, however, misses the fundamental point of what is good for the taxpayer and the State and what makes NAMA more effective. If this amendment were accepted it would undermine that important objective. Whether someone who benefits under NAMA is an Irish citizen or not ought not to be relevant. Take the...

National Asset Management Agency Bill 2009: Report Stage (Resumed) and Final Stage (5 Nov 2009)

Peter Power: I move amendment No. 14: In page 18, to delete line 10. We already had a discussion on this amendment. The Minister agreed on Committee Stage to provide that NAMA would report on a quarterly rather than a biannual basis. This amendment proposes to delete the previous definition of biannual report and to replace it with a reference to quarterly reports to provide for the making available of...