Results 11,901-11,920 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector Regulation (11 Jul 2013)

Michael Noonan: I have been informed by the Central Bank that Allied Irish Banks plc holds a banking licence under Section 9 of the Central Bank Act, 1971. This licence allows the bank to conduct banking business. As defined in the Act, “banking business” means business which consists of-- (a) the business of accepting deposits payable on demand or on notice or at a fixed or determinable...

Written Answers — Department of Finance: Fuel Laundering (11 Jul 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the numbers of fuel laundries detected in the relevant counties for each of the past five years are detailed in the Table. One person found at the oil laundry detected in Donegal in 2011 was prosecuted at Letterkenny Circuit Court on the 29th January 2013 and received a two-year custodial sentence. A second oil laundry prosecution brought...

Written Answers — Department of Finance: Credit Unions Regulation (11 Jul 2013)

Michael Noonan: The Commission on Credit Unions produced its final Report in March 2012, making recommendations regarding the strengthening of the regulatory framework of credit unions, including more effective governance and regulatory requirements. The key recommendations are in relation to sector restructuring, the details of the new legislative and regulatory framework, and new governance requirements...

Written Answers — Department of Finance: Mortgage Arrears Proposals (11 Jul 2013)

Michael Noonan: The Central Bank has advised me that over the coming period, the Bank will commence publication of additional statistics, designed to provide more information on the level of progress in relation to mortgage arrears resolution. One such additional measure will be the number of newly agreed loan modifications during each reference quarter. This will be captured for both temporary and permanent...

Written Answers — Department of Finance: Pension Provisions (11 Jul 2013)

Michael Noonan: I am informed by the Central Bank that the Central Bank of Ireland Superannuation Scheme has sufficient assets to meet all of its liabilities as prescribed by the Pensions Act. This has been confirmed by the scheme’s actuaries every year since the superannuation scheme was established in 2008 and they continue to monitor the solvency of the scheme on a regular basis. The Central...

Written Answers — Department of Finance: Tax Reliefs Availability (11 Jul 2013)

Michael Noonan: I assume the Deputy is referring to mortgage interest relief. On that basis, the position is that mortgage interest relief is not available in respect of interest paid on loans taken out on or after 1 January 2013, except in two specific circumstances which are set out below: 1. Interest paid on a loan taken out in 2013 to construct a home on a site, but only where such site was bought by...

Written Answers — Department of Finance: Tax Collection (11 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 80 to 88, inclusive, together. Profits or gains arising to an owner or part owner of a stallion from the sale of services of mares within the State by a stallion or from the sale of rights to such services have been taxable since 1 August 2008. Previously, these profits were exempt from income and corporation tax. Figures for the profits earned from the...

Leaders' Questions (16 Jul 2013)

Michael Noonan: He did not ask any question.

Leaders' Questions (16 Jul 2013)

Michael Noonan: How did the Deputy know the reply when he wrote that?

Written Answers — Department of Finance: Household Charge Collection (16 Jul 2013)

Michael Noonan: I am advised by the Revenue Commissioners that in accordance with section 156 of the Finance (Local Property Tax) Act 2012 (as amended), where the Household Charge for 2012 has not been paid by 1 July 2013 the arrears amount is increased to €200 of Local Property Tax. The arrears amount will be included as part of the LPT liability in respect of the property and will be collected by...

Written Answers — Department of Finance: Tax Credits (16 Jul 2013)

Michael Noonan: The position is that where a couple is cohabiting, rather than married or in a civil partnership, they are treated as separate and unconnected individuals for the purposes of income tax. Each partner is a separate entity for tax purposes and, therefore, cohabiting couples cannot file joint assessment tax returns or share their tax credits and tax bands in the same manner as married couples....

Written Answers — Department of Finance: Tax Reliefs Application (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 179, 256, 257, 278 and 282 together. Income tax relief in respect of health expenses is allowable in accordance with section 469 of the Taxes Consolidation Act 1997. This legislation provides for tax relief for health expenses incurred in the provision of health care. Health care is defined for the purposes of that legislation as the prevention, diagnosis,...

Written Answers — Department of Finance: Living City Initiative (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 180 and 181 together. The Finance Act 2013 includes a section on the Living City Initiative which introduces a scheme of tax incentives focusing on the regeneration of the historic centres of some of our main cities. The scheme which will be introduced by Ministerial order, will apply in the first instance on a pilot basis only to specified regeneration...

Written Answers — Department of Finance: Money Laundering (16 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...

Written Answers — Department of Finance: EU Budget Contribution (16 Jul 2013)

Michael Noonan: Ireland’s contribution to the EU budget is an obligation of EU membership and is a charge on the Central Fund under national legislation. The contribution formula for the EU budget is comprised of Traditional Own Resources – principally customs duties collected by member States on behalf of the EU; a VAT based payment; a residual balancing component paid according to each member...

Written Answers — Department of Finance: IBRC Liquidation (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 184 to 187, inclusive, together. In responding to these questions, the Special Liquidators have advised that consideration has to be given, not only to the Companies Acts, 1963 - 2012 (the Companies Acts), but also the Irish Bank Resolution Corporation Act, 2013 (the IBRC Act), the Ministerial Instructions issued to the Special Liquidators under the IBRC...

Written Answers — Department of Finance: IBRC Liquidation (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 188 and 189 together. I have been advised by the Special Liquidators that they do not have any obligations to file any documents in the High Court.

Written Answers — Department of Finance: IBRC Liquidation (16 Jul 2013)

Michael Noonan: The Irish Banking Resolution Corporation Act 2013 provided that section 313A of the Companies Act 1963 shall not apply to the liquidation of IBRC. The said section 313A provides that, upon the making of a winding up order or an order appointing an examiner to a company, the liquidator or examiner concerned may obtain a copy of the order from the Central Office of the High court. This...

Written Answers — Department of Finance: IBRC Liquidation (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 191 and 192 together. The Special Liquidators will fully comply with their reporting obligations and as such the liquidation accounts will be filed with the CRO after two years of the liquidation and yearly thereafter. These accounts will include detail on the costs, charges and expenses incurred by the Special Liquidators in that period. As is normal in...

Written Answers — Department of Finance: IBRC Liquidation (16 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 193 to 196, inclusive, together. I am advised by the Special Liquidators that for the larger regulatory group exposures, the Group Credit Committee (“GCC”) of IBRC (in Special Liquidation) decides on all credit decisions. The GCC is chaired by the Chief Risk Officer. The Local Credit Committees of IBRC (in Special Liquidation) are chaired by...