Results 9,561-9,580 of 11,861 for speaker:Brian Hayes

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: To respond to amendments Nos. 5 and 6 in the name of Senator Reilly, one of the core purposes of the Bill, as expressed in its Long Title, is to "change the governance requirements for credit unions by removing certain management functions from boards of directors of credit unions and providing for a separate management structure and to improve the oversight and general policy functions of...

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: On Committee Stage in the Dáil, the Minister for Finance stated that he would look at a mechanism whereby an exception to term limits could be allowed in exceptional circumstances. I tabled an amendment to that effect on Committee Stage in the Seanad yesterday which amends section 95A of the Bill. The purpose of that amendment is to allow the Central Bank to appoint a director under...

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: Yes.

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: The net issue is that if there is a deficiency of numbers and the experienced people are required, this can be allowed on an exceptional basis. That is my understanding of it. If there is a deficiency of numbers coming forward and the credit union would need some people for their expertise, those people can remain. That is where the exclusion could kick in.

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: This amendment is consequential on the change in term limits for the board of directors from nine years to 12 years in aggregate in any 15-year period. We had a good debate about this yesterday. Given that the term limits are increased to 12 years under section 15, the reference to permissible limits under this Part also must be updated to refer to 12 years. This section requires the...

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: I indicated on Committee Stage that an amendment to this section was required to clarify that the reference to member in subsection (4) is a member of the board of directors, not a member of the credit union. Therefore, the reference to member in the section is being changed to director. This was done for clarity.

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: This amendment correlates an incorrect reference. Section 76N provides for the election of members of the board oversight committee either during the organisation meeting or a general meeting of the credit union.

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: Amendment No. 11 follows commitments given by the Minister in the Dáil by allowing for a director of one credit union to be on the board oversight committee of another. A number of amendments have been made to committee exclusions. This amendment mirrors the provisions in section 15 relating to exclusions from board membership. It also provides for consequential numbering changes.

Seanad: Youth Work: Motion (12 Dec 2012)

Brian Hayes: This amendment replaces the definition of "maturity mismatch". The proposed definition clarifies the definition used in the Bill.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: It is good to be before the committee. On the first issue, there are three draft Government orders giving force of law in Ireland to new double taxation agreements with Egypt, Qatar and Uzbekistan. These are a draft order to update the double taxation agreement with Switzerland, a draft Government order giving force of law to a tax information exchange agreement with San Marino, and a draft...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: Any information on the tax turnover and other aspects required by the Revenue Commissioners are part and parcel of this and can be obtained through these agreements.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: It is standard in the terms of the agreements we have negotiated.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: I thank the Deputy for acknowledging the significant improvement in recent years. As Deputy McGrath would be aware, these measures are not just an intellectual property or academic exercise. When one goes to third countries and speaks to Irish businesses, it makes a difference that these taxation agreements are in place because it gives them some certainty in trading with those countries. ...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: I understand the point the Deputy is making. It is complicated by the fact that "global capital is as global is", it can go anywhere. In spite of the best efforts of national governments to capture the full tax liability of large global entities like this, it is the view of Government that the best possible agreements are brought about at OECD level. I have spoken at OECD conferences. The...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: I am grateful to be afforded the opportunity to deal with the draft ministerial order on the National Pensions Reserve Fund Act 2000. The draft ministerial order being discussed by the committee today will, if approved, formally suspend the payment of the annual contribution of 1% of GNP from the Exchequer to the National Pensions Reserve Fund in 2012 and in 2013. Both the budget for 2012...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: To respond to the first question, it is not part of the general Government deficit because it was a payment for investment purposes. In those years when the contribution was going in, the general Government deficit-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: The question the Deputy asked was-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: As the money was going in for investment purposes it did not come out of the general Government deficit.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: It was treated in that way. The Deputy is correct. There is €5.9 billion left in the non-discretionary side and he is also right in pointing out the Government's and the Commission's objective of spending close to €700 million for investment purposes. We are always looking at ideas for investment but there are two crucial issues here. I am sure he agrees with me on this....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Taxation Agreements: Motion (12 Dec 2012)

Brian Hayes: The amount was not €27 billion, €20 billion is being invested from the NPRF.