Results 10,221-10,240 of 16,537 for speaker:Brian Lenihan Jnr
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: Precisely.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: I move amendment No. 1: In page 6, lines 11 to 21, to delete subsection (1) and substitute the following: "(1) If the Bank charges on the deposit protection account any payment out of the Bank's own funds in accordance with the Deposit Guarantee Regulations, the amount of the payment shall, with the approval of the Minister, be repaid to the Bank out of the Central Fund or the growing...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: The power would have to be determined by a future Minister for Finance after consulting with the Government. He would have wide powers and he could propose to levy the entire system or could make it more specific to a particular institution. The fundamental procedure when dealing with a run on a bank is the injection of liquidity back into it by a central bank. As Ireland is in the...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: Section 4(4) refers to a wide range of matters which the Central Bank can use to advise the Minister. If an institution were insolvent, the Minister would not be in a position to impose a levy on it. It would be the other institutions that would have to carry it. I was referring to the association of the other institutions with the degree of risk engaged upon by the errant institution....
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: I am unsure that there is much tenderness in this provision because it applies to section 4. Section 4 is the only provision that creates an offence within the Bill. The offence created by the Bill is that a credit institution shall not carry on the business of a credit institution unless it maintains a deposit with the bank. Consequently, the offence is that it failed, as a credit union,...
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: There are far wider sanctions available in other banking legislation, including fines of up to â¬10 million.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: If the Deputy is aware of any matters, she should bring them to the Garda herself and get it to investigate them.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: There is no relationship between this Bill and the proposal that will be contained in next week's measure because this Bill relates to deposit protection. The issue that will be debated in the House next week is the question of medium-term debt and guarantees to the banks of medium-term debt. As the Deputy is aware, the present position is that the guarantee will lapse on 29 September 2010....
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: While I do not wish to anticipate next week's debate, this would not apply to existing advances of bonds. It would be in respect of fresh-----
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: I understand an official briefing has been arranged for later this week. If this is the case, these questions can be explored there.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: Not as I understand it. Again, this is a technical issue and it might be better for the Deputy to wait for her official briefing on Friday. However, this pertains to fresh issuance, rather than existing roll-over extensions.
- Financial Services (Deposit Guarantee Scheme) Bill 2009 - Committee Stage (Resumed) and Remaining Stages (17 Jun 2009)
Brian Lenihan Jnr: I thank the Deputies who attended and contributed to the debate on this legislation. I thank the Whips for agreeing that the Bill should be treated as a priority so that Ireland can meet its obligations under EU law. The debate ranged widely, as all our debates on banking do, and overlapped into other aspects of financial services. We can consider such matters next week in the context of...
- Written Answers — Tax Code: Tax Code (17 Jun 2009)
Brian Lenihan Jnr: As the Deputy is aware, I announced in Budget 2009 that an air travel tax would come into force in respect of passengers departing from Irish airports on and from 30 March 2009. A general rate of â¬10 per passenger would apply, with a lower rate of â¬2 for shorter journeys. The Finance (No.2) Act 2008 confirms the introduction of an air travel tax from 30 March 2009. However, I took account...
- Written Answers — Tax Code: Tax Code (17 Jun 2009)
Brian Lenihan Jnr: I am advised by the Revenue Commissioners that the taxpayer's income tax has been reviewed for the years 2007 and 2008. A refund of tax of â¬3,794.54 for 2007 and â¬1,519.86 for 2008 in respect of tax paid on maternity benefit are issuing and should be received by the taxpayer within 5 working days.
- Written Answers — Information Society Fund: Information Society Fund (17 Jun 2009)
Brian Lenihan Jnr: The Information Society Fund was introduced in order to progress the eAgenda from 2000. Action plans were put in place to stimulate initiatives to provide better access for customers to services; to develop new ways for clients to interact with Government; to provide more streamlined and integrated services; to improve internal processes and to make significant improvements in the national...
- Written Answers — e-Government Report: e-Government Report (17 Jun 2009)
Brian Lenihan Jnr: I propose to take Question Nos. 80 and 81 together. The Office of the Comptroller & Auditor General published its Special Report No 58 on eGovernment in October 2007. The Report highlighted that while initially there was considerable impetus behind eGovernment and rapid progress was made, this had slowed in recent years. The main recommendations of the Comptroller & Auditor General Report...
- Written Answers — Tax Collection: Tax Collection (18 Jun 2009)
Brian Lenihan Jnr: I am informed by the Revenue Commissioners that the data currently available on the amounts of VAT generated in 2009 on petrol and auto-diesel relate to the first five months of the year, i.e. January to May inclusive. The amounts of revenue generated through VAT on petrol and auto-diesel for the period 1 January to 31 May 2009, and for the corresponding periods in 2006, 2007 and 2008, are...
- Written Answers — Departmental Schemes: Departmental Schemes (18 Jun 2009)
Brian Lenihan Jnr: The cycle to work scheme came into operation on 1 January 2009. With a view to keeping the scheme simple and reducing administration on the part of employers, and following the model of the related travel pass scheme, there is no notification procedure for employers to indicate to the Revenue Commissioners that they are operating the cycle to work scheme. In view of this, the Revenue...
- Written Answers — Tax Code: Tax Code (18 Jun 2009)
Brian Lenihan Jnr: A tax exemption for charities is available under section 207 of the Taxes Consolidation Act 1997. I have been advised by the Revenue Commissioners that to avail of this exemption a body must be established for charitable purposes and must also apply all of its income for charitable purposes only. While, for reasons of taxpayer confidentiality, Revenue cannot comment on the tax affairs of...
- Financial Measures (Miscellaneous Provisions) Bill 2009: Order for Second Stage. (23 Jun 2009)
Brian Lenihan Jnr: I move: "That Second Stage be taken now."