Results 10,381-10,400 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 move amendment No. 33: In page 20, before section 32, to insert the following new section: “PART 4 AUDITOR ASSURANCE32.—The Central Bank Act 1997 is amended by inserting the following new section after section 27B:27BA.—(1) Where the Bank considers it necessary owing to the nature, scale or complexity of the activities of a regulated financial service provider, it may,...

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. 34: In page 20, before section 32, to insert the following new section:33.—Section 27G of the Central Bank Act 1997 is amended—(a) in subsection (1) by inserting “27BA(4) or (5),” after “section 27B(2),”, and (b) in subsection (3) by inserting “27BA,” after “section 27B,”.”.

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. 35: In page 20, subsection (1), between lines 20 and 21, to insert the following:“ “contract of employment” means a contract of employment or of service or of apprenticeship, whether the contract is express or implied and, if express, whether it is oral or in writing;”. These amendments relate to the provisions on what constitutes penalisation...

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. 36: In page 20, subsection (1), to delete lines 21 to 30.

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. 37: In page 21, subsection (1), between lines 4 and 5, to insert the following:“(b) the threat of suspension, lay-off or dismissal,”.

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. 38: In page 21, subsection (1), line 14, before “reprisal” to insert “threats of”.

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 can appreciate the concern expressed by Deputy Michael McGrath in raising this amendment. It is important that where key information comes to the attention of the Central Bank it is taken seriously and acted upon. There are examples in the past where whistleblowers have made reports to the Central Bank in good faith and in the public interest without any further action from the Central...

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 thank the Deputy.

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. 40: In page 22, subsection (2)(a), line 8, to delete “knows or believes might be” and substitute “believes will be”.These amendments nuance the compulsory reporting requirement for those with pre-approval control functions and provide for guidelines.

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. 41: In page 22, subsection (2), between lines 16 and 17, to insert the following:“(e) It is a reasonable excuse for the purposes of paragraph (c) for a person to fail to make a disclosure on the ground that the information has already been disclosed by another person. (f) Paragraphs (d) and (e) do not limit what is a reasonable excuse for the purposes of paragraph...

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. 42: In page 22, before section 34, to insert the following new section:34.—(1) The Bank may, in such form and manner as it considers appropriate, publish guidelines for the purpose of providing practical guidance for persons referred to in subsection (2)(a) of section 33 relating to the application and operation of that section with respect to those persons,...

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. 43: In page 22, lines 34 to 37, to delete subsection (5) and substitute the following:“(5) Subject to any enactment or rule of law, the Bank may not disclose the identity of a person who has made a protected disclosure without first obtaining the person’s consent except in so far as it may be necessary—(a) for the effective investigation of any matter...

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. 44: In page 23, between lines 22 and 23, to insert the following subsection:“(5) (a) If penalisation of an employee, in contravention of subsection (1), constitutes a dismissal of the employee, as referred to in paragraph (a) of the definition of “penalisation” in section 32, the employee (or, in the case of an employee who has not reached the age of...

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. 45: In page 24, subsection (8), line 4, to delete “subsection (6) or (7)” and substitute “subsection (7)”.

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. 46: In page 24, between lines 6 and 7, to insert the following subsection:“(9) Summary proceedings for an offence under subsection (6) or (7) may be brought and prosecuted by the Minister for Jobs, Enterprise and Innovation.”.

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. 47: In page 24, before section 37, to insert the following new section: “PART 5 CUSTOMER PROTECTION37.—(1) Where the Bank is satisfied—(a) that there have been widespread or regular relevant defaults by a regulated financial service provider, and (b) that, in consequence of the relevant defaults, customers of the regulated financial service provider...

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: If the Deputy does not mind, I will deal with the matter on Report Stage if he tables an amendment.

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. 48: In page 24, before section 37, to insert the following new section:38.—A failure by a regulated financial service provider to comply with any obligation under financial services legislation is actionable by any customer of the regulated financial service provider who suffers loss or damage as a result of such failure.”.

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. 49: In page 26, between lines 11 and 12, to insert the following subsection:“(4) Where the Bank gives a direction under subsection (1) to a regulated financial service provider or a related undertaking (in this subsection referred to as the “principal provider”), the Bank may, where it considers it necessary for the purpose of securing compliance with...

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. 50: In page 26, subsection (4), line 12, after “direction” to insert “under subsection (1) or (4)”.