Results 6,781-6,800 of 40,550 for speaker:Joan Burton
- Order of Business (12 Nov 2009)
Joan Burton: Can the Tánaiste tell us whether the Government has made a decision on the future of the Grangegorman Development Agency, Dublin Institute of Technology and related institutions?
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: Can I ask the Minister to explain the purposes of these amendments and the thinking behind them? We were presented this morning with 37 amendments to the National Asset Management Agency Bill 2009, including the Schedules to the Bill, along with another revised or amended version of the Bill. We have not received an updated explanatory memorandum from the Minister or his officials....
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: We have just got that now.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: Can we take a moment to consider what the grouping is likely to mean?
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: I ask the Minister to refer us to the numbers of the amendments.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: That is the most significant set of amendments. It seems to contradictââ
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: These amendmentsââ
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: These amendments constitute amendments to section 222 and appear to seriously contradict section 221, about which we had a brief discussion. They also amend the Schedule. They are highly contradictory with each other because they seem to impose protection for whistleblowers as well as penalties. They also contradict part of section 221. Does the Minister have a memorandum of explanation...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: Will the Minister outline the implications of these provisions for individuals or institutions subject to the NAMA process in regard to items or assets that are offshore? I raised this issue in the course of the debate and have not yet received a clear response. If I understand the Minister correctly, these provisions are intended to cater for a variety of situations, both onshore and...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: They are not solely technical but relate also to the designation of financial institutions.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: With regard to applications for designation of assets of participating institutions, amendment No. 7 states this will be done "in accordance with any applicable law" while amendment No. 8 states it will be done "subject to any prohibition in any applicable law". Under the legislation, Allied Irish Banks, Bank of Ireland, Anglo Irish Bank and Irish Nationwide Building Society will transfer...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: These banks will be processed first.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: The top ten to 15 developers listed in the Minister's draft NAMA management plan will be dealt with in the first 30 days and, therefore, possibly by Christmas. According to everything I have heard about Anglo Irish Bank, the top ten to 15 developers were heavily supported by this bank. Is that not so? I do not say the other institutions are not also involved with these developers but Anglo...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: Not only are Anglo Irish Bank and Irish Nationwide going into the NAMA process but there is also discussion in the media, and this is permissible under the Bill, about the possibility of institutions such as Ulster Bank having assets up to â¬15 billion parked in some kind of quarantine process which may, at some stage, enter the NAMA process. Given that Ulster Bank is owned by Royal Bank of...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: Technical amendments are fierce important at this stage. Let me tell the Minister that.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: May I continue the point? We are not talking about ordinary law. We are talking about banking and international global banking systems which have crashed, to the detriment of millions of ordinary people throughout the world. We are not talking about ordinary law but about banking institutions which have used their might and main to have part of their transactions and part of their...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: No. The Minister should read French literature in some detail. People at the G20 recognised that the availability of offshore mechanisms and tax havens have rendered the supervision and regulation of banking, in this country and throughout the world, very difficult. Why is the Minister giving specific recognition to prohibition in any applicable law without being able to tell us if he, his...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: It is very relevant.
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: Section 62 is about applications for designation as a participating institution and section 63 is about the effect of application for designation. These are two very powerful sections because they give the banks, the credit institutions in the one year guarantee scheme, and Irish-owned subsidiaries of foreign banks the right to apply. Section 63 states: "By making an application under this...
- National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)
Joan Burton: That was a Labour Party amendment.