Results 6,041-6,060 of 6,295 for speaker:Michael D'Arcy

Investment Limited Partnerships (Amendment) Bill 2019: Second Stage (18 Sep 2019)

Michael D'Arcy: I move: "That the Bill be now read a Second Time." I welcome the opportunity to address Dáil Éireann today on the Investment Limited Partnerships (Amendment) Bill 2019, which was published on 18 June 2019. The Bill seeks to update the operation of the Investment Limited Partnerships Act to implement changes which were put forward in the IFS 2020 action plan and more recently...

Investment Limited Partnerships (Amendment) Bill 2019: Second Stage (18 Sep 2019)

Michael D'Arcy: Section 48 amends section 140 of the 2015 Act to correct a typographical error by substituting "waived" for "varied" to reflect the language used in section 1490 of the Companies Act 2014. Section 49 amends section 141(1) of the 2015 Act by inserting "being the debts identified for the purposes of subsection (2)(b)" after "debts". This is to bring the Act into line with section 1415(1)...

Investment Limited Partnerships (Amendment) Bill 2019: Second Stage (18 Sep 2019)

Michael D'Arcy: Enticing it.

Investment Limited Partnerships (Amendment) Bill 2019: Second Stage (Resumed) (18 Sep 2019)

Michael D'Arcy: In wrapping up Second Stage, I wish to touch upon a number of issues that were raised, primarily by Deputy Michael McGrath. All I can do is accept his criticism about the delay in this legislation. The legislation has been ongoing for three and a half years. Our systems and structures are not sufficient to put in place financial services legislation. Under the new strategy, we are...

Investment Limited Partnerships (Amendment) Bill 2019: Referral to Select Committee (18 Sep 2019)

Michael D'Arcy: I move:That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 84A(3)(a) and 149(1).

Finance (Tax Appeals and Prospectus Regulation) Bill 2019: Order for Second Stage (24 Sep 2019)

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

Finance (Tax Appeals and Prospectus Regulation) Bill 2019: Second Stage (24 Sep 2019)

Michael D'Arcy: I move: "That the Bill be now read a Second Time." The Bill has three Parts, the first of which relates to the Short Title, commencement and definitions sections. The second Part provides amendments to the legislation governing the Tax Appeals Commission, primarily to implement recommendations of an independent review carried out in 2018. The third Part relates to the transposition of...

Finance (Tax Appeals and Prospectus Regulation) Bill 2019: Second Stage (24 Sep 2019)

Michael D'Arcy: I thank Deputies Pearse Doherty, Sean Fleming and Michael McGrath for their reflections on the proposed legislation. It is complicated and technical, and we will get into it in more detail. I will touch upon as many of the issues that I can. The figure of 3,600 cases or thereabouts was referred to earlier. The current figure - as of this week - is 3,479 cases with an overall quantum of...

Finance (Tax Appeals and Prospectus Regulation) Bill 2019: Referral to Select Committee (24 Sep 2019)

Michael D'Arcy: I move:That the Bill be referred to the Select Committee on Finance, Public Expenditure, Reform, and Taoiseach pursuant to Standing Orders 84A(3)(a) and 149(1).

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Sep 2019)

Michael D'Arcy: I propose to take Questions Nos. 2 and 3 together. Neither the Central Bank of Ireland or I can interfere in the provision or pricing of insurance products as these matters are of a commercial nature and are determined by insurance companies based on an assessment of the risks they are willing to accept. This position is reinforced by the EU framework for insurance, which expressly...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Sep 2019)

Michael D'Arcy: The Deputy should please not question my grasp of the magnitude of this. I have put a significant shift into insurance to try to put us in a position where we recalibrate the awards. The biggest issue is the recalibration of the awards. I have acknowledged everybody's assistance on insurance issues in this House and the other House. Please do not question my grasp of the magnitude of...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Sep 2019)

Michael D'Arcy: I must reiterate that the schedule I have is the schedule I would like to see occur. I have the full support of Government on this, but we cannot direct the time schedule, unfortunately. The time schedule I have proposed is that the judicial council will be established by the end of this year. The personal injuries committee within the judicial council can be brought together by the Chief...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Sep 2019)

Michael D'Arcy: Regarding the Circuit Court figures Deputy Pearse Doherty has, the issue is that two thirds of the cases are for under €20,000. These are the ones doing the damage. They are doing appalling damage to the businesses and festivals he talks about and which everyone here is trying to protect. It is the small damages, the small claims, that are doing the catastrophic damage to businesses...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: Insurance Costs (26 Sep 2019)

Michael D'Arcy: Regarding the leisure sector, the reason the schedule I have in place is to the end of this year is that I want the industry to be able to get insurance in the early part of next year for next year. I realise it will not be in time for everybody, by which I am deeply saddened. However, if we can get the Judiciary to reduce the guidelines - I have met all of the insurance companies here,...

Ceisteanna (Atógáil) - Questions (Resumed) - Ceisteanna Eile (Atógáil) - Other Questions (Resumed): Insurance Costs (26 Sep 2019)

Michael D'Arcy: I propose to take Questions Nos. 12, 13, 18, 43 and 47 together. In the short time available, I will repeat where we are at now that the Judicial Council Bill 2017 has been passed. Some sections of the Act are now operational. The Judicial Council will be established by the end of this year. I have requested that the establishment of the personal injury committee under the council...

An tOrd Gnó - Order of Business (1 Oct 2019)

Michael D'Arcy: The issue is that a request has been made to the Chief Justice in respect of this matter stating that there is no reason the personal injury committee within the judicial council cannot be formed in an informal manner and act in parallel with the establishment of the judicial council to recalibrate the awards in the five primary areas, which would account for approximately 75% of personal...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: I thank the Chairman and members for the invitation to attend. As the committee will be aware, the Data Protection Act was enacted on 25 May 2018. On foot of that Act, it is necessary to make updated regulations under section 60 to provide for certain restrictions on obligations of controllers and rights of data subjects for important objectives of general public interest in respect of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: The bank requires extra powers to protect the public against harm arising from dishonesty, malpractice breaches of ethics, or other improper conduct. The example we gave was that these restrictions could apply where the exercise of the right may interfere with the prevention, detection or investigation of breaches of the enforcement of compliance with financial services legislation. These...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: May I raise one matter, please, Chairman, in relation to the Migration of Participating Securities Bill, or will I leave it?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Data Protection Act 2018 (Section 60 (6)) (Central Bank of Ireland) Regulation 2019: Minister of State at the Department of Finance (1 Oct 2019)

Michael D'Arcy: I realise that the committee has considered the pre-legislative scrutiny for the Bill. We have a concern about the amount of time it may take to get the report back to the Department and that we may not reach the time schedule, which is to have the legislation concluded by the end of the year. It is a very important piece of Brexit legislation relating to the stamp duty that applies for the...