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Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: That is understood. I will move on. We talked about the fees the Central Bank receives for its work in this regard. The number the witnesses came back with seemed quite low. Is that in any way a profit centre? I refer both to Israeli bonds and to general prospectuses. Does the Central Bank make money on this or does carrying out this work cost the bank?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: Mr. Makhlouf will understand where I am going. I just want to categorically understand that neither the Central Bank nor any other Irish Government body is making any money of this work evaluating Israeli prospectuses.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: There is an implication going around that money is being made off of this work. I want to put that to bed. I thank Ms McMunn. We talked about September as the potential rollover date or next date for issue.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: How much notice does the Central Bank get if Israel is likely to seek to renew? Is it something that just lands in your inbox when the other one expires? Does Israel have to give ten, 20, or 30 days’ notice?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: It generally takes a number of weeks to get from start to finish.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: Has the Irish Central Bank ever refused a prospectus for reasons other than insufficient disclosures or existing sanctions?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: From a sovereign country, yes.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: It is generally a matter of working with the issuer to get the prospectus completed, as opposed to sending it back and telling them that the prospectus is null and void.

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: Have there been any such questions around recent Israeli bond prospectuses?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: Do particular areas come up again and again, such as errors or emissions that are made typically, or can it be right across the forums?

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: Has the Central Bank ever suspected that errors or emissions – let us call them that – have been deliberate by an issuer to try to cover information or put out information that is not-----

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Central Bank of Ireland (11 Jun 2025)

Shay Brennan: How am I doing on time, Chair?

Finance (Local Property Tax and Other Provisions) (Amendment) Bill 2025: Second Stage (17 Jun 2025)

Shay Brennan: I am grateful for the opportunity to address the House on the Finance (Local Property Tax and Other Provisions) (Amendment) Bill 2025. As a representative of Dublin Rathdown, I am acutely aware of the importance of the local property tax, both as a source of funding for our local authority and as a topic of real concern for homeowners and communities across the country. I wish to set out...

Committee on Foreign Affairs and Trade: The Work of Dóchas: Discussion (17 Jun 2025)

Shay Brennan: I thank the witnesses for joining us. I appreciate them making the effort to come in and for taking the time. I also commend them on all the work they do for those around the world who are less well off than us. That is very much appreciated by everyone in this room. My questions fall into three categories and I will ask them reasonably quickly as I am conscious to give the witnesses...

Committee on Foreign Affairs and Trade: The Work of Dóchas: Discussion (17 Jun 2025)

Shay Brennan: I asked about any Irish institutions holding any of this debt. There was also the interest rate question.

Committee on Foreign Affairs and Trade: The Work of Dóchas: Discussion (17 Jun 2025)

Shay Brennan: First I will state, and maybe this is for the finance committee, that I would not like to think that international funds are using Ireland's tax efficient structure to maximise their profits while charging 12% to those who are worse off. That is something that either this committee or the finance committee needs to examine because if that is the case it would simply be outrageous. I will...

Ceisteanna ar Pholasaí nó ar Reachtaíocht - Questions on Policy or Legislation (19 Jun 2025)

Shay Brennan: I wish to discuss the significant burden that Revenue's enhanced reporting requirements for employee benefits are placing on small- and medium-sized enterprises across Ireland. While the aim may be transparency, the reality is that SMEs must now report even the smallest non-cash benefits, sometimes just €10 in value, to Revenue on or before the day that they are provided. As the...

Written Answers — Department of Enterprise, Trade and Employment: Business Supports (19 Jun 2025)

Shay Brennan: 29. To ask the Minister for Enterprise, Trade and Employment for a report on the cost of business advisory forum; and if he will make a statement on the matter. [33045/25]

Written Answers — Department of Enterprise, Trade and Employment: Business Regulation (19 Jun 2025)

Shay Brennan: 71. To ask the Minister for Enterprise, Trade and Employment if his Department is undertaking a look-back exercise to identify business regulations that are now redundant to reduce unnecessary red tape; and if he will make a statement on the matter. [33046/25]

Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Israeli Bond Programme: Discussion (Resumed) (18 Jun 2025)

Shay Brennan: I thank the witnesses. I appreciate them taking the time to join us and the detailed thought that has gone into their opening statements. I am absolutely horrified by the Israeli atrocities being carried out on the Palestinian people. I want Ireland to do everything within its influence to bring about a cessation of these actions without delay. Having read the opening statements, although...

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