Results 6,201-6,220 of 27,019 for speaker:Michael Noonan

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: The average percentage interest rate paid by the National Asset Management Agency on its senior bonds in the calendar year of 2011 was 1.4654%. As per the published fourth Quarter 2011 accounts, in 2011 NAMA paid interest on its senior bonds of €423.3 million and interest on derivatives where hedge accounting is applied of €58.3 million. To date NAMA has not made an interest payment on...

Written Answers — Tax Code: Tax Code (3 Jul 2012)

Michael Noonan: The contents of the Report on Public Health Policy Consultation Submissions have been noted. I would point out to the Deputy that many of the recommendations are not related to taxation. To the extent that they are it is normal practice that the findings of such a report will fall to be considered, along with other relevant factors and issues, when the taxation of cigarettes is being...

Written Answers — School Management: School Management (3 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 200, 201, 209 and 210 together. I am informed by the Revenue Commissioners that Relevant Contracts Tax (RCT) is a withholding tax system that operates in the construction, forestry and meat processing sectors. Principal contractors are defined in the legislation (section 530A of the Taxes Consolidation Act 1997) as including "any board or body established by...

Written Answers — Appointments to State Boards: Appointments to State Boards (3 Jul 2012)

Michael Noonan: In response to the Deputy's Question the following are details of appointments made in the period in question. Board Appointments Name of Body Name of appointee Date appointed/ reappointed Disabled Drivers Medical of Appeal Dr Angela McNamara Re-appointed on 7th November 2011 *Irish Bank Resolution Corporation (IBRC) Mr. Roger McGrealMr. Oliver Ellingham 15th November 201110th October...

Written Answers — Mortgage Interest Relief: Mortgage Interest Relief (3 Jul 2012)

Michael Noonan: This is a matter for the Revenue Commissioners who are responsible for the administration of mortgage interest relief through the tax relief at source system. I am informed by the Revenue Commissioners that they continue to work with all qualifying lenders to ensure that the necessary software changes to lenders' Tax Relief at Source (TRS) systems are in place at the earliest possible date....

Written Answers — Banking Operations: Banking Operations (3 Jul 2012)

Michael Noonan: I have been informed by the Central Bank that the clearing cycle for a cheque should be no longer than three business days, with a bar on returning a cheque unpaid being set at five business days. However it should be noted that this clearing cycle may be shorter in some circumstances (in particular, where the accounts of the payer and the payee are both held with the same branch of the same...

Written Answers — Ministerial Meetings: Ministerial Meetings (3 Jul 2012)

Michael Noonan: Since taking Office, I have not met with representatives of the tobacco industry. Such meetings have been attended by my officials. The following table set out the information requested by the Deputy in relation to meetings held with representatives of the tobacco industry since I took Office in March 2011. Date of Meeting Tobacco Industry Representatives present Titles of Department...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: NAMA have advised that following their recent decision to repay € 2bn senior debt, the funds received by each institution is as follows:

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: AIB (incl. EBS): €1,392 m

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: BOI: €351m

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: Permanent TSB: €191m

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: IBRC: €66 m

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: Total: €2,000 m

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Jul 2012)

Michael Noonan: One of the primary objectives of NAMA is the repayment of the cost of the loans acquired from the Participating Institutions and the cost of the working and development capital expenditure on the assets attached to the loans. I am advised by NAMA that through its activities, including a phased and orderly asset disposal programme and investment in residential and commercial projects...

Seanad: Mortgage Arrears, Banking and the Economy: Statements, Questions and Answers (3 Jul 2012)

Michael Noonan: I thank the Members for giving me the opportunity to update the Seanad on the Government's work in tackling the mortgage arrears problem and on its wider banking and economic policies. The timing is particularly opportune given the significant decisions and announcements made last week. Senators will be aware of the increase in the number of mortgages in arrears and of the difficulty this is...

Seanad: Mortgage Arrears, Banking and the Economy: Statements, Questions and Answers (3 Jul 2012)

Michael Noonan: Many questions have been asked. I cannot really be expected to engage in a Committee Stage debate on the insolvency Bill before Second Stage has taken place. I cannot deal with the aspects of the legislation with which they might disagree in the level of detail they might demand. The Minister, Deputy Shatter, will take the Bill. He has already said he will consider further amendments over...

Seanad: Mortgage Arrears, Banking and the Economy: Statements, Questions and Answers (3 Jul 2012)

Michael Noonan: The price of it is the interest rate that is charged. That is what the banks do. Some of them have placed some very sophisticated items on their shelves in recent years. They are still shops that buy and sell money. We acknowledge the good work they have done in the past, but they have gone a great deal of harm internationally and domestically in recent times. To a large degree, they...

Seanad: Mortgage Arrears, Banking and the Economy: Statements, Questions and Answers (3 Jul 2012)

Michael Noonan: As a group.

Seanad: Mortgage Arrears, Banking and the Economy: Statements, Questions and Answers (3 Jul 2012)

Michael Noonan: I refer to Senator Colm Burke's comment first, on letters of undertaking not being honoured. This is an issue. There is no doubt that slipshod solicitors as well as slipshod bankers were involved in much property dealing. Some of this came to light when loans were being transferred to NAMA and that organisation has a fairly good idea of the level of the problem with the deeds of some of...

Seanad: Mortgage Arrears, Banking and the Economy: Statements, Questions and Answers (3 Jul 2012)

Michael Noonan: The banks are being held to account by the Department of Finance. The regulator of the banks is the Central Bank which applies the rules. Reference was made to the people who caused the problem still being in position. There were about 80 senior people, between directors and senior management, on the infamous night of the guarantee in 2008 and now there are only two left. We have moved...