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Seanad: Summer Economic Statement 2019: Statements (26 Jun 2019)

Michael D'Arcy: This debate is also important but maybe Senator Conway-Walsh did not notice.

Seanad: Summer Economic Statement 2019: Statements (26 Jun 2019)

Michael D'Arcy: I thank the Senators who contributed. I will try to provide answers on as many of the issues raised as possible. Senator Horkan mentioned the national children's hospital, the broadband plan and other capital projects. I can only give him the 2019 figures that were budgeted for at this time last year. There was current expenditure of €59 billion and capital expenditure of...

Joint Oireachtas Committee on Climate Action: Business of Joint Committee (26 Jun 2019)

Michael D'Arcy: hfnvnvnvb

Climate Action Plan to Tackle Climate Breakdown: Statements (Resumed) (27 Jun 2019)

Michael D'Arcy: Last week the Government published Ireland's climate action plan. Climate disruption is already having diverse and wide-ranging impacts on Ireland's environment and society, as well as on its economic and natural resources. The climate action plan sets out an ambitious course in the coming years to address this issue. The plan which represents an all-of-government approach to the climate...

Articles of Agreement of the International Finance Corporation: Motion (2 Jul 2019)

Michael D'Arcy: I move:That Dáil Éireann approves, in accordance with Article 29.5.2° of Bunreacht na hÉireann, a proposed amendment of Article II, Section 2(c)(ii) of the Articles of Agreement of the International Finance Corporation, being an amendment the terms of which shall read as follows:‘Section 2. Capital Stock “(c)(ii) in any other case, by an eighty-five percent...

Double Taxation Relief (Taxes on Income and on Capital) (Swiss Confederation) Order 2019: Motion (9 Jul 2019)

Michael D'Arcy: I move:That Dáil Éireann approves the following Order in draft:Double Taxation Relief (Taxes on Income and on Capital) (Swiss Confederation) Order 2019,a copy of which was laid before Dáil Éireann on 19th June, 2019.

Double Taxation Relief (Taxes on Income and Capital Gains) (Kingdom of the Netherlands) Order 2019: Motion (9 Jul 2019)

Michael D'Arcy: I move:That Dáil Éireann approves the following Order in draft:Double Taxation Relief (Taxes on Income and Capital Gains) (Kingdom of the Netherlands) Order 2019,a copy of which was laid before Dáil Éireann on 19th June, 2019.

Saincheisteanna Tráthúla - Topical Issue Debate: Home Loan Scheme (9 Jul 2019)

Michael D'Arcy: The Rebuilding Ireland home loan scheme launched on 1 February 2018. Prior to its launch, an initial tranche of €200 million of long-term fixed rate finance was borrowed by the HFA to provide funds for the scheme for local authorities. The Rebuilding Ireland home loan scheme is a remodel of two previous schemes provided by local authorities, namely, the house purchase loan and home...

Saincheisteanna Tráthúla - Topical Issue Debate: Home Loan Scheme (9 Jul 2019)

Michael D'Arcy: I am not trying to be glib but "very soon" is not months and it is not weeks. The Deputy can take-----

Saincheisteanna Tráthúla - Topical Issue Debate: Home Loan Scheme (9 Jul 2019)

Michael D'Arcy: -----from that what he wishes. I am not here to announce the actual scheme but I am confident that the continuation and the extension of the scheme will occur. I know from my conversations with the Minister, Deputy Eoghan Murphy, that this scheme seems to have caught the Department by surprise. I am surprised at the surprise. It is a 40-year loan at a fixed rate of 2.2%. There is no such...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I wish very briefly to highlight a few points. The Bill as introduced is broad and wide-ranging legislation. It potentially cuts across existing domestic and European legislation in several areas. The Attorney General has advised that further detailed consideration of the complex legal issues involved in the Bill is required. Specialist legal counsel has been sought on the Bill overall...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: It is mine too.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 1: In page 3, to delete lines 10 to 18 and substitute the following: “ “average consumer” has the meaning given to it by Directive No. 2005/29/EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business-to-consumer commercial practices in the internal market and amending Council Directive 84/450/EEC, Directives...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I propose that some definitions be deleted, some replaced and some introduced. I propose to delete the definition of "groups of persons", as the term is only used in the definition of "consumer", which it is proposed to replace. I propose to delete the definition of "turnover" as the term is only used in the definition of "consumer", which it is proposed to replace. I also propose to...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: If I may respond, we will be happy to consider that on Report Stage.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 2: In page 3, to delete lines 19 to 29 and substitute the following: “ “consumer” has the meaning given to it by paragraph (a) of the definition of that expression (as it is defined in relation to a financial service) in section 2(1) of the Financial Services and Pensions Ombudsman Act 2017 but, for the purposes of this Act, that paragraph (a)...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 3: In page 3, between lines 31 and 32, to insert the following: “ “durable medium” means any instrument that enables a recipient to store information addressed personally to the recipient in a way that renders it accessible for future reference for a period of time adequate for the purposes of the information and which allows the unchanged...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 4: In page 4, to delete lines 4 to 6.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 5: In page 4, between lines 6 and 7, to insert the following: “ “insurance intermediary” has the meaning given to it by Regulation 2 of the European Union (Insurance Distribution) Regulations 2018 (S.I. No. 229 of 2018);”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Consumer Insurance Contracts Bill 2017: Committee Stage (11 Jul 2019)

Michael D'Arcy: I move amendment No. 6: In page 4, to delete lines 7 to 9 and substitute the following: “ “insurer” means an insurance undertaking, that is to say, an insurance undertaking within the meaning of, as appropriate, Regulation 3 of the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015), Regulation 2 of the European Communities (Non-Life...

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