Results 15,241-15,260 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector Regulation (17 Apr 2014)

Michael Noonan: Due to commercial confidentiality and sensitivities, and also client/solicitor confidentiality, the Special Liquidators do not propose to provide details of whether there was/are amounts payable by IBRC (in Special Liquidation) to the firm concerned. The Special Liquidators have given significant consideration to which firm should be appointed to carry out an independent review of the legal...

Written Answers — Department of Finance: IBRC Liquidation (17 Apr 2014)

Michael Noonan: As the Deputy is aware Dr. Power had been a party to the proceedings against the former Directors of INBS. However, following further review and legal advice, it was decided by the then board of Irish Bank Resolution Corporation, in consultation with me, to discontinue the action against Dr Power. I am advised by the Special Liquidators that in light of that decision they have not...

Written Answers — Department of Finance: Tax Code (17 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners, that the capital gains tax relief contained in Section 604A of the Taxes Consolidation Act 1997 (enacted in Finance Act 2012 and extended by Finance (No 2)Act 2013 will have  no cost, in terms of capital gains tax forgone,  for a period of seven years from the time any properties to which the relief applies were acquired. ...

Written Answers — Department of Finance: Living City Initiative (17 Apr 2014)

Michael Noonan: An application for EU State Aid approval in respect of the Living City Initiative was submitted on 27th March and we look forward to hearing from the European Commission. It is difficult to be certain how long this approval process might take, but in other cases it has been up to a year. The Initiative will also be subject to a commencement order and...

Written Answers — Department of Finance: Financial Irregularities (17 Apr 2014)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the carrying out of his duties.  I have no role in the day to day workings of the office. However, the Financial Services Ombudsman has informed me that the information requested by the Deputy is as follows:   Year Total Number of Investment Complaints Mis-selling of Investments Mis-selling...

Written Answers — Department of Finance: Betting Licences (17 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that the number of betting offices in the State licensed to date (15thApril 2014) for the current licensing year, is 888.  I am further advised that the licensing year runs from the 1st December to the 30th November.

Written Answers — Department of Finance: Budget 2014 (17 Apr 2014)

Michael Noonan: The following is a list of measures which were announced in Budget 2013 and Budget 2014 where EU approval has yet to be obtained. The Living City Initiative, announced in Finance Bill 2013, is a pilot project which provides certain tax incentives to make it more attractive for people to live in historic and culturally significant city centre houses. The initiative also offers incentives for...

Written Answers — Department of Finance: NAMA Property Leases (17 Apr 2014)

Michael Noonan: I am advised by NAMA that the process of acquiring these properties by NARPS, the special purpose company established by NAMA to facilitate the long-term leasing of houses and apartments by Approved Housing Bodies, is ongoing. Once NARPS has acquired the properties, it will immediately facilitate their onward leasing to Tuath. NAMA advises that it expects the properties to be made...

Written Answers — Department of Finance: Government Bonds Disposal (17 Apr 2014)

Michael Noonan: I am advised that no specific investigation of the type described has been conducted by the Department. As the Deputy will be aware the Central Bank has committed to disposing of these bonds as soon as possible provided conditions of financial stability permit. The Central Bank of Ireland provide the Department of Finance with an estimate of expected surplus income to...

Written Answers — Department of Finance: NAMA Property Sales (17 Apr 2014)

Michael Noonan: I propose to take Questions Nos. 62 and 63 together. I am advised by NAMA that it has no involvement with the assets referenced by the Deputy.

Written Answers — Department of Finance: Dormant Accounts Fund Administration (17 Apr 2014)

Michael Noonan: Under the Dormant Accounts Act 2001, an account is deemed to be a dormant account where no transaction has been effected by the account holder for a period of 15 years. The Act makes no provision in relation to an account being classified as inactive after a period of 3 years. If the Deputy has information that financial institutions may not be complying with the provisions...

Written Answers — Department of Finance: Mortgage Repayments Issues (17 Apr 2014)

Michael Noonan: As the Deputy is aware, I have no statutory function in relation to banking decisions made by individual institutions at any particular time. Although the State is a minority shareholder in Bank of Ireland, I must ensure that the bank is run on a commercial, cost effective and independent basis to ensure their value as an asset to the State. The Relationship Framework that...

Written Answers — Department of Finance: Customs and Excise Staff (17 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that their office is a fully integrated tax and customs administration and that it is not possible to disaggregate the resources deployed exclusively at any given time on customs or excise work. If there is a particular Excise or Customs service which the Deputy has in mind, it may be possible for Revenue to give a more helpful reply. Customs work,...

Written Answers — Department of Finance: Property Taxation Yield (17 Apr 2014)

Michael Noonan: I am informed by the Revenue Commissioners that compliance data in relation to the Local Property Tax (LPT) is available broken down by city and county councils nationally and the most up to date figures for LPT collected relating to properties in Longford and Westmeath County Councils were published on 16 April 2014 on the Commissioners' website at: . The Commissioners have also confirmed...

Written Answers — Department of Finance: NAMA Loan Book (17 Apr 2014)

Michael Noonan: As the Deputy may be aware, in the context of my Department's review, I have asked NAMA to evaluate their disposal timing and strategy in the context of current market demand and explore the advantages and disadvantages of accelerating its disposal strategy.  I understand that the NAMA Board is currently reviewing all strategic options and that the Board expects to complete...

Written Answers — Department of Finance: NAMA Loan Book (17 Apr 2014)

Michael Noonan: Details relating to NAMA s loan portfolio are set out in its Section 55 Quarterly Accounts, which are available on the Agency s website, .  The Deputy may also wish to note that NAMA s Annual Report and Financial Statements for 2013 will be published within the next two months as soon as the C&AG has completed its audit.  As the Deputy may...

Written Answers — Department of Finance: NAMA Operations (17 Apr 2014)

Michael Noonan: As I outlined in Question 68 of 27th February 2014, my Department's review of NAMA is on-going, it cannot be completed until the final C&AG report has been received.  I am advised that the C&AG review is being conducted and the report should be finalised and presented to me shortly. I expect my Department's review of NAMA to be completed in the...

Written Answers — Department of Finance: IBRC Liquidation (17 Apr 2014)

Michael Noonan: The Special Liquidators are continuing with the orderly and efficient wind down of IBRC in accordance with the provisions of the IBRC Act, 2013 (the "Act") and instructions that have been provided to the Special Liquidators by me under the Act. The sales process of the five largest loan portfolios of IBRC (in Special Liquidation), namely the Evergreen, Rock, Salt, Stone and Sand portfolios...

Written Answers — Department of Finance: NAMA Portfolio (17 Apr 2014)

Michael Noonan: I am advised by NAMA that it has obtained additional security over assets with an aggregate value in excess of €800m. NAMA advises that this breaks down circa two-thirds/one-third between property and non-property assets, mainly share portfolios and cash. Further detail on this process is set out in NAMA's Annual Report and Financial Statements for 2012, which is available on the...

Written Answers — Department of Finance: National Treasury Management Agency Deposits (17 Apr 2014)

Michael Noonan: At end-March 2014 the Exchequer had €21.5 billion available in cash and other short-term balances. In January 2014, the National Treasury Management Agency (NTMA) issued €3.75 billion of a new 10-year bond, at a yield of 3.54 per cent. Following that syndicated issue, the NTMA issued a Funding Statement to the market in February, setting an indicative target for total Irish...