Results 621-640 of 49,836 for speaker:Stephen Donnelly

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I seek clarification. While I am inclined to agree with Deputy Mac Lochlainn on this, I will stick to the Minister's example. The majority creditor with a veto is usually the bank. Is it correct that those who are mostly minority debtors would not be able to veto any arrangement, in which case the PIA, irrespective of whether it agreed, would effect a discharge? In this regard, one should...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: During the process?

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I move amendment No. 159:In page 94, between lines 3 and 4, to insert the following:"(5) Before making an order providing for the possession and/or repossession of a principal private residence, the court shall consider the nature and value of assets available to the debtor, the extent of his liabilities, and whether the debtor’s inability to meet his engagements could, having regard to...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I greatly appreciate the Minister's openness to taking account this matter in future legislation. In the interim, however, what can be done to prevent the banks from making possession orders? In a situation where there is positive equity in a property, I cannot envisage a bank agreeing to write down a portion of debt rather than opting immediately for repossession. Is it the Minister's...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I thank the Minister for his response, but I have two caveats. First, I understand his point regarding positive equity. However, if we are thinking in terms of net benefit to the taxpayer, we must consider a situation where it is of marginal benefit to the bank to take the house, the debtors walk away with the full mortgage repaid and the State ends up having to house them. The effect on...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I move amendment No. 182:In page 107, between lines 19 and 20, to insert the following:"(4) In the case of a creditor unreasonably refusing to accept the terms of a proposal for a Personal Insolvency Arrangement and thereafter applying to court for an order of repossession of the debtor’s principal private residence, the court may take into account such unreasonable refusal in terms of...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I move amendment No. 192:In page 118, line 18, after "discharged." to insert the following: "In the first three years post enactment of the Personal Insolvency Act 2012, all bankruptcies shall be discharged after two years. Thereafter, and on return to normality, the period of bankruptcy shall be increased again to three years.".A few issues arise, but I will not go over one of them again,...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I broadly welcome the various things the Minister said and appreciate that these issues will be taken up. I have one final thought on the bank account issue. The US is probably the most entrepreneurial country on earth and when one talks to people there about bankruptcy or failing in business, they view it as part of the normal business process on one's way to succeeding. When the Minister...

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I thank the Minister.

Personal Insolvency Bill 2012: Report Stage (Resumed) and Final Stage (7 Nov 2012)

Stephen Donnelly: I wish the Minister luck with this. A final matter, which was not relevant to any of the amendments but which would be incredibly useful, is that there should be clear communication of the Minister's intent for how this should work. That would be important not just for the PIPs but also for the public. There is so much fear, worry and lack of information among the public. When this is...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Statement of Strategy 2011-2014: Discussion with Department of Finance (7 Nov 2012)

Stephen Donnelly: I welcome Mr. Moran and his team. I thank him for giving me access to some of his officials recently in respect of budget preparations. I do not have the resources of the Opposition parties so his officials have been incredibly helpful. All of this makes a great deal of sense. I wish to focus on corporate governance and changing the culture. Several Deputies and Senators talked about...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Statement of Strategy 2011-2014: Discussion with Department of Finance (7 Nov 2012)

Stephen Donnelly: As an aside - I do not know if it is possible - in terms of the budget preparation, there is a piece of information which I understand is released at the weekend of the Budget Statement, the 2013 no-policy-change scenario. Any budget preparation or budget submission requires that. Perhaps it is a Government decision rather than a Department decision, but if it is possible perhaps Mr. Moran...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Statement of Strategy 2011-2014: Discussion with Department of Finance (7 Nov 2012)

Stephen Donnelly: I have a final question. The National Asset Management Agency, NAMA, was not mentioned in Mr. Moran's presentation and statement. Can he explain what level of oversight of NAMA the Department has and what resources it has for that oversight?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Discussion with Minister for Finance (8 Nov 2012)

Stephen Donnelly: I welcome the Minister. I want to pick up on his comment that there is no question of default. I understand why Deputy Noonan, as Minister for Finance, can say nothing else. For the Minister to start engaging in the kind of things I might say would drive up borrowing costs for Ireland. As a Member of the Oireachtas, however, it is very difficult to hear. The Minister made some fantastic...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Discussion with Minister for Finance (8 Nov 2012)

Stephen Donnelly: I am more than happy to withdraw the two questions but the final question was specifically on ECOFIN. Perhaps the Minister can provide the committee with an answer to the first two questions.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Forthcoming ECOFIN Council: Discussion with Minister for Finance (8 Nov 2012)

Stephen Donnelly: Just on that-----

Written Answers — Department of Health: Hospital Waiting Lists (13 Nov 2012)

Stephen Donnelly: To ask the Minister for Health the position regarding an operation in respect of a child (details supplied) in County Wicklow. [49636/12]

Credit Union Bill 2012 (Resumed): Second Stage (Resumed) (14 Nov 2012)

Stephen Donnelly: I listened carefully to the contributions from all sides of the House and it appears there are three commonalities in that regard. The first is a real appreciation of the role played by the credit union movement in Ireland, the second is an acceptance that some form of regulation is required and the third is agreement that the Bill as it stands must be changed to ensure that the credit union...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Stephen Donnelly: I welcome the officials and thank them for appearing before the committee. I wish to check with Mr. Tony Gallagher the various rules of the Stability and Growth Pact, Article 4, paragraph 1, numerical fiscal rules. I should know this, I apologise. Is it correct that one of those is the 3% budget deficit? Is the debt brake also included in that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Scrutiny of EU Legislative Proposals. (14 Nov 2012)

Stephen Donnelly: The one twentieth per year down to 60%.