Results 10,361-10,380 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I understand there is a generic offence if the reviewer was to provide false information to the bank. That is covered in the contract between the reviewed and the reviewer. The offence to which the Deputy drew our attention is contained as a generic provision in the contract between the two parties but it is not set out in a specific section.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: It would be an offence and it is covered by a generic provision in the contract between the two parties. Amendment No. 31 introduces a generic offence whereby a person commits an offence if he or she: (a) obstructs or impedes the Bank or an authorised officer in the exercise of any powers under this Part, (b) without reasonable excuse, does not comply with a requirement imposed under this...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: It is covered under the provision on supplying information to the bank and it would be an offence under that section if somebody behaved as the Deputy suggested. It is also covered in the contract.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: The penalties would be the standard penalties. They are also the penalties that apply to equivalent offences regarding authorised officers. My understanding is that it is covered in different parts of the legislation.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 17: In page 14, subsection (1), line 9, after “Part” to insert the following:“or by the terms of a contract referred to in section 12(1)”.These are technical amendments regarding the reviewer's contract.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 18: In page 14, subsection (1), line 11, after “Part” to insert “or under the terms of such a contract”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 19: In page 14, before section 20, but in Part 2, to insert the following new section:20. - (1) The Bank may publish, in such form and manner as it considers appropriate, guidelines for the purpose of providing practical guidance for reviewees and reviewers relating to the application and operation of this Part. (2) The guidelines may include different provisions in...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 20: In page 14, before section 20, to insert the following new section: “PART 3 INFORMATION, ETC CHAPTER 1 Introductory21.—(1) The following are persons to whom this Part applies (whether they are within or outside the State):(a) a regulated financial service provider; (b) a person who has applied for an authorisation but whose application has not been...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 21: In page 14, before section 20, to insert the following new section: “CHAPTER 2 Bank’s power to gather information, etc.22.—(1) Where it is necessary to do so for the purpose of the performance of the Bank’s functions under financial services legislation relating to the proper and effective regulation of financial service providers, the Bank...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 22: In page 14, before section 20, to insert the following new section:23.—(1) The Bank may require that information, records or other documents provided in response to a requirement under section 22(1) be provided in such form and manner as the Bank may reasonably require. (2) A person who fails to provide any information, records or other documents in the form...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 23: In page 14, before section 20, to insert the following new section: “CHAPTER 3 Authorised officers24.—(1) Where it is necessary to do so for the purpose of the performance by the Bank of its functions under financial services legislation relating to the proper and effective regulation of financial service providers, the Bank may appoint any of its...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 24: In page 14, before section 20, to insert the following new section:25.—Every authorised officer appointed by the Bank shall be furnished with a warrant of his or her appointment, and when exercising a power conferred by this Chapter shall produce such warrant or a copy of it, together with a form of personal identification, for inspection if requested to do so...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 25: In page 14, before section 20, to insert the following new section:26.—(1) Subject to subsection (2), an authorised officer may at all reasonable times enter any premises—(a) which the authorised officer has reasonable grounds to believe are or have been used for, or in relation to, the business of a person to whom this Part applies, or (b) at, on or in...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 26: In page 14, before section 20, to insert the following new section:27.—(1) An authorised officer may do any one or more of the following:(a) search and inspect premises entered under section 26* or pursuant to a warrant under section 28; (b) require a person to whom this Part applies who apparently has control of, or access to, records, to provide the records;...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 27: In page 14, before section 20, to insert the following new section:28.—(1) Without prejudice to the powers conferred on an authorised officer by or under any other provision of this Chapter, if a judge of the District Court is satisfied on the sworn information of the authorised officer that there are reasonable grounds for believing that records are to be...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 28: In page 14, before section 20, to insert the following new section:29.—(1) An authorised officer may attend any meeting relating to the business of a regulated financial service provider if the authorised officer considers that it is necessary to attend in order to assist the Bank in the performance of any of its functions under financial services legislation....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 29: In page 14, before section 20, to insert the following new section: “CHAPTER 4 Supplementary30.—(1) The provision to the Bank or an authorised officer of any information, record or other document by a person under this Part shall not be treated, for any purpose, as a breach of any restriction under any enactment or rule of law on provision by the person...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 30: In page 14, before section 20, to insert the following new section:31.—(1) If any person to whom this Part applies fails or refuses to comply with a requirement imposed by the Bank or an authorised officer under this Part, the Bank or the authorised officer may certify the failure or refusal to the High Court. (2) When the Bank or an authorised officer...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 31: In page 14, before section 20, to insert the following new section:32.—(1) A person commits an offence if he or she—(a) obstructs or impedes the Bank or an authorised officer in the exercise of any powers under this Part, (b) without reasonable excuse, does not comply with a requirement imposed under this Part, (c) in purported compliance with such a...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 32: In page 14, before section 20, to insert the following new section:33.—(1) In this section— “the Court” means the High Court; “privileged legal material” means information which, in the opinion of the High Court, a person is entitled to refuse to produce on the grounds of legal professional privilege. (2) If a person refuses...