Results 9,101-9,120 of 21,499 for speaker:Mary Lou McDonald

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Yes. The issue was then on the shelf and forgotten about until its recent emergence. I can explain how I have come to the conclusion that the Department was passive in its relationship with this institution, and it is that sequence of events that strongly suggests that to me. That was not good. In terms of the dealings of Anglo Irish Bank and the IBRC with what we would call high net...

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: I did not ask about that. Even in the original relationship framework, there is a piece outlining that certain matters are "deemed reserved" for the Minister, etc. There is reference to "keeping an eye" on the establishment of varying of any transaction or arrangement between Anglo Irish Bank and a director, a former director or any connected person of a director or former director on terms...

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: How did the Department do that in respect of Anglo Irish Bank and IBRC?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Was it something the Department would have pursued in any way? Would it have been sensitive to the issue?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: If we were to get minutes of the monthly exchanges, would they demonstrate a consciousness of that issue?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: For example, would the Department have known if the institution was borrowing at a particular rate and lending at a very substantially lower rate, the spread of which would have raised a question mark? Would the witness have been privy to that sort of information?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Yes.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Ms Nolan and Mr. Moran do not recall hearing anything strange that would have troubled them with respect to those spreads?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: In particular, I am thinking about high net worth individuals.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Am I correct in saying that in the course of a liquidation, once complete, all the documentation is held by the liquidator to be dispensed with after a period of three years?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: That is the standard practice. As we speak, the special liquidator holds all the files in respect of IBRC. What happens when the three years pass?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Yes, and if we bear that in mind-----

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Under what circumstances could that be done?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: What would that be defined as?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: So the Minister would look into his or her heart, de Valera-style, to read the public interest.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: We can stick to Siteserv, just to be specific. All the concerns and public controversy could occur and the report might come back with a certain level of detail, but three years from the date of liquidation, documentation would be expunged from the record.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: I thank the witnesses.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: We talked about visibility and the inadequacies of the initial framework. I am interested to hear Ms Nolan say the Department did not have those visibility issues on other deals and transactions.

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: Did the Department secure that visibility because it was more assertive in that case?

Public Accounts Committee: 2013 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2013
Chapter 2 - Government Debt and Finance Accounts 2013 (14 May 2015)

Mary Lou McDonald: It was extremely assertive in that case.