Results 11,821-11,840 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: IBRC Staff (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 154, 167 and 168 together. Twenty National Treasury Management Agency (NTMA) staff assigned to the National Asset Management Agency (NAMA) have been recruited directly from the Irish Bank Resolution Corporation (IBRC) or its predecessor entities. All of these staff have been recruited on the basis of specified purpose contracts. The issue of a transfer of...

Written Answers — Department of Finance: IBRC Staff (9 Jul 2013)

Michael Noonan: I have been informed by the Special Liquidators that following the appointment of the Special Liquidator, 809 employee contracts were terminated in the Republic of Ireland. 802 employees were re-hired by the Special Liquidators on short term contracts to assist with the liquidation of Irish Bank Resolution Corporation Limited. The 7 employees who were not re-hired held senior positions within...

Written Answers — Department of Finance: Central Bank Board Meetings (9 Jul 2013)

Michael Noonan: The attendance records for Central Bank board meetings, for the period 2006-2009, are set out in the attached schedule. In relation to remuneration, Directors’ fees from 2006-2008 and part of 2009 were €17,500 per annum. In May 2009, Directors fees were revised downwards by 10% to €15,750 per annum. Central Bank and Financial Services Authority of Ireland Attendance at...

Written Answers — Department of Finance: Central Bank Board Membership (9 Jul 2013)

Michael Noonan: The information sought by the Deputy in relation to members of the Board of the Central Bank is set out in the schedule below. Surname First Name Appointed Term expired (incl. reappointments) McAleese Dermot 30-Jul-79 31-Jan-96 Ferguson Vincent A 17-Jun-83 16-Jun-93 O'Connor Stephen 17-Jun-83 31-Jan-96 Cromien Sean P 01-May-87 30-Apr-08 Walsh Mary 01-Jul-88 30-Jun-98...

Written Answers — Department of Finance: Bank Guarantee Scheme Administration (9 Jul 2013)

Michael Noonan: The Deputy refers in his question to an earlier related question to which I gave a written reply on 11 June, 2013. This reply was in response to the Deputy's request then for details of the breakdown of covered liabilities by bank as of 30 September, 2008. The details sought by the Deputy were communicated to my Department on the basis that the information was confidential and as being...

Written Answers — Department of Finance: IBRC Liquidation (9 Jul 2013)

Michael Noonan: I have been advised by the Special Liquidators that there were 24 safety deposit boxes in use when the Special Liquidators were appointed to IBRC. The Special Liquidators are currently reconciling the safety deposit boxes to determine ownership.

Written Answers — Department of Finance: Credit Unions Issues (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 160 and 162 together. An unsustainable debt position has been reached by many borrowers, which needs to be addressed for the benefit of both borrowers and lenders alike. The Central Bank is facilitating a voluntary co-ordinated approach among lenders to the resolution of multiple debts owed by distressed borrowers. The Central Bank is now carrying out a...

Written Answers — Department of Finance: Property Taxation Administration (9 Jul 2013)

Michael Noonan: I am advised by Revenue that any valuation amendments to Local Property Tax Returns must be in writing and must be supported by the appropriate evidence to explain or prove the need to decrease the value. Evidence can be in the form of recent sales or advertised house prices in the area, professional valuations or house price surveys for the area. On the specific case raised by the...

Written Answers — Department of Finance: Banks Recapitalisation (9 Jul 2013)

Michael Noonan: It is important to note that at no time was Anglo Irish Bank declared insolvent and the provision of capital and support by the Government has prevented insolvency. IBRC, the merged entity, comprising both Irish Nationwide Building Society and Anglo Irish Bank, remained solvent and in compliance with capital requirements up until liquidation on the 7th February 2013. Anglo Irish Bank was...

Written Answers — Department of Finance: Banking Sector Issues (9 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 164 and 165 together. The Office of the Director of Corporate Enforcement is responsible for the enforcement of breaches of company law and it is the function of the director of the ODCE to investigate if the former members of the Board of Anglo Irish Bank complied with their regulatory responsibilities and duties. As there are currently a number of court...

Written Answers — Department of Finance: Banking Sector Investigations (9 Jul 2013)

Michael Noonan: I have been advised by the Special Liquidators that they are currently reviewing the books and records of Anglo Irish Bank/ IBRC. The Special Liquidators will be meeting their obligations under Section 56(1) of the Company Law Enforcement Act 2001 and as such will be considering the adequacy of the books and records of IBRC as part of this report.

Written Answers — Department of Finance: Banking Sector Investigations (9 Jul 2013)

Michael Noonan: The Central Bank has advised me that it is not their practice to record telephone calls with regulated entities, but that phone calls on landlines in investment firm trading rooms are generally recorded, although there are no specific regulations that require this. The question of the recording of phone calls by investment firms is being reviewed as part of EU negotiations on the Markets in...

Written Answers — Department of Finance: Banking Sector Recruitment (9 Jul 2013)

Michael Noonan: I am informed by the Central Bank that the Central Bank Commission approves the staffing plan for the Central Bank on an annual basis and this defines the resourcing needs across the organisation. The Central Bank adopts a thorough recruitment process for all positions. The selection process involves an initial shortlisting by human resources, further shortlisting by the hiring manager...

Written Answers — Department of Finance: Banking Operations (9 Jul 2013)

Michael Noonan: I have been informed by the Central Bank that all requests for new lending go through a formal process which inter alia includes steps such as application, assessment, approval, decline or defer pending further information, issue and signing of a binding contract and draw down of funds. Over the last three years the Central Bank has taken various steps to ensure higher lending standards by...

Written Answers — Department of Finance: Tobacco Smuggling (9 Jul 2013)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tackling the smuggling and sale of illicit tobacco products, that they attach a high priority to dealing with this criminal activity. Their "Strategy on Combating the Illicit Tobacco Trade (2011-2013)", which is published on the Revenue website (www.revenue.ie), includes a range...

Written Answers — Department of Finance: Negative Equity Mortgages Numbers (9 Jul 2013)

Michael Noonan: The Central Bank has engaged with mortgage lenders in relation to negative equity mortgages to develop a mortgage product that would allow home owners to sell their existing home and transfer the negative equity portion of the original loan to the new loan. In order to ensure that proposals in relation to such mortgages are consistent with the Central Bank's consumer protection and...

Written Answers — Department of Finance: Property Taxation Collection (9 Jul 2013)

Michael Noonan: I am advised by Revenue that the Deputy is correct in comparing the ‘single debit authority’ (SDA) payment option to an electronic cheque and correct in stating that it is, by definition, an authority for a single debit to be made from the relevant account in favour of Revenue. Revenue has confirmed that where a taxpayer opted to pay Local Property Tax (LPT) in respect of 2013...

Written Answers — Department of Finance: Gambling Sector (9 Jul 2013)

Michael Noonan: I am advised by the Revenue Commissioners that statistics on winnings from gambling are not held by them. I would advise the Deputy that only betting comes within my remit in the context of betting duty. Overall gambling and gaming is within the remit of the Minister for Justice and Equality.

Written Answers — Department of Finance: Tax Code (9 Jul 2013)

Michael Noonan: Officials of my Department continue to monitor developments regarding the imposition of an SMS/MMS/mobile call levy in Hungary. I am advised that, since 1 July 2012, publicly available telephone services in Hungary are subject to a tax which is levied on telecommunications service providers and which applies on the initiation of phone calls and the sending of SMS and MMS messages. The tax...

Written Answers — Department of Finance: Money Laundering (9 Jul 2013)

Michael Noonan: European legislation has been adopted to protect the financial system and certain professions and activities from being misused for money laundering and financing of terrorism purposes. The anti-money-laundering obligations applicable in Ireland derive from the Third EU Money-Laundering Directive. The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 was enacted in July...