Results 15,261-15,280 of 27,019 for speaker:Michael Noonan

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

Michael Noonan: I have no plans to publish records of the type mentioned in the Deputy's question. It is normal practice for States to protect the confidentiality of deliberations with international bodies particularly where sensitive issues are involved. Reflecting this principle, the Freedom of Information Act provides for exemptions from release of records relating to, for example, negotiations with...

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

Michael Noonan: As the Deputy is aware a number of reports were produced by Ernst and Young and McCann FitzGerald at the request of the INBS Board. Copies of all of these reports have been provided to the Central Bank of Ireland ( CBI ) under the terms of a protocol for limited disclosure agreed between the parties to preserve legal privilege over the material. IBRC was prohibited from disclosing these...

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

Michael Noonan: As the Deputy will be aware the Review of Remuneration Practices & Frameworks at the Covered Institutions (the "Mercer Report") was published by my Department on 12 March 2013. The following breakdown of total salary and remuneration appears on page 43 of that review. - AIB AIB BOI BOI Number of staff Salary Remuneration Salary Remuneration €300,000 - €399,999...

Written Answers — Department of Finance: Central Bank of Ireland IT Operations (17 Apr 2014)

Michael Noonan: The Central Bank's Strategic Plan 2013 - 2015 sets out a strategy of assertive risk-based supervision underpinned by a credible threat of enforcement. Enforcement is an important tool to effect deterrence, achieve compliance and promote positive behaviour. The Central Bank will take enforcement action against regulated entities under its Probability Risk Impact Supervisory System (PRISM)...

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

Michael Noonan: As the Deputy will be aware banks are required to record phone calls for a variety of reasons. I have not sought access to these recordings as under statute the Garda Síochána are the body responsible for criminal investigations in the State. I understand that the Garda Bureau of Fraud Investigation have requested access to various documents/materials in the banks, including audio...

Written Answers — Department of Finance: Bank Stress Tests (17 Apr 2014)

Michael Noonan: As the Deputy is aware, the stress test is one of the three components of the ECB Comprehensive Assessment which is currently underway, the other two components being the Supervisory Risk Assessment and Asset Quality Review. Preparatory work has already commenced on the stress test component and the details of the scenarios are due to be finalised at the end of this...

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

Michael Noonan: The domicile levy was introduced in the Finance Act 2010. The first year for which individuals were required to make returns was the year 2010, and these returns had to be filed by 31 October 2011 (by 15 November 2011 if filed electronically by way of the Revenue Online System (ROS)). The following table sets out details as supplied by the Revenue Commissioners on the number...

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

Michael Noonan: The Deputy may be aware that I commissioned a review of the tax reliefs available to the farming sector in conjunction with my colleague the Minister for Agriculture, Food and the Marine. The purpose of this review is to assess the benefits and costs of the various agricultural tax expenditures with a view to ensuring that the maximum benefit to the sector and the wider economy is...

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

Michael Noonan: I am not aware of any expressions of unease made to the Department of Finance by the ECB following the promissory notes transaction. The Central Bank of Ireland is independent in the exercise of its functions and the management of its investment holdings is a matter for the bank itself and neither I nor the Department of Finance have any role in such a...

Written Answers — Department of Finance: Mortgage Protection Policies (17 Apr 2014)

Michael Noonan: As I said in the House on 8 April 204, in reply to an earlier Parliamentary Question, draft heads of the legislation have been sent to the Central Bank for its consideration in advance of more detailed engagement with the Attorney General's office. I also said that I did not consider it appropriate to discuss the details of these draft heads because we are at a very preliminary stage...

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

Michael Noonan: Government policy in relation to flooding aims to address the underlying problem through appropriate remedial works where this is economically feasible. The Office of Public Works is committed to alleviating the impact of flooding through the provision of defences as well as a comprehensive assessment of flood risk throughout the country and development of flood risk management plans for the...

Topical Issue Debate: Insurance Industry (30 Apr 2014)

Michael Noonan: I thank the three Members for raising this important issue and for their contributions to this exchange of views. Setanta Insurance Company Limited is a Maltese incorporated company, which was both authorised and prudentially supervised by the Malta Financial Services Authority, MFSA. While its financial position is not supervised by the Central Bank of Ireland, as it has no role in that...

Topical Issue Debate: Insurance Industry (30 Apr 2014)

Michael Noonan: To reply to Deputy Conway, I cannot comment on an individual case and I have no idea what the liability might be. It is not clear yet from Malta, because the company only went into liquidation today, whether there are assets which partially support the outstanding claims of the company. I am sure it will be clarified in due course. The insurance compensation scheme we operate here between...

Written Answers — Department of Finance: Tax Code (30 Apr 2014)

Michael Noonan: The supply of water by local authorities and Irish Water is exempt from VAT. This VAT exemptions applies to all supplies of water, including supplies to domestic households, businesses and others. Ireland's long standing VAT exemption for the supply of water is currently contained in paragraph 14(2) of Schedule 1 to the VAT Consolidation Act 2010.  The exemption is based on a...

Written Answers — Department of Finance: Illicit Trade in Tobacco (30 Apr 2014)

Michael Noonan: I am advised by the Revenue Commissioners that combating the illegal tobacco trade is, and will continue to be, a high priority for them. Their work against this illegal activity includes a range of measures designed to identify and target those who are engaged in the supply or sale of illicit products, with a view to seizing the illicit products and prosecuting those responsible. This...

Written Answers — Department of Finance: Household Charge Collection (30 Apr 2014)

Michael Noonan: I am advised by my colleague the Minister for the Environment and by the Local Government Management Agency that they are not aware of any outstanding cases before the courts concerning the Household Charge. As regards the Revenue Commissioners, I have answered a number of Questions previously on this issue.  In particular, in my reply to Question number 92 on 26 June 2013, I informed...

Written Answers — Department of Finance: Betting Legislation (30 Apr 2014)

Michael Noonan: The Betting (Amendment) Bill 2013, which includes provisions around extended opening hours for betting shops,  was published in July last.  Following publication the EU Commission had to be notified under the Technical Standard Directive and a three month standstill period ensued.  That standstill period ended in October last. Second stage was completed in January and my...

Written Answers — Department of Finance: Insurance Industry (30 Apr 2014)

Michael Noonan: Under EU law which governs non-life insurance, an insurer is required to inform the regulator in its home Member State (its home regulator) that it intends to pursue business in another Member State. The home regulator must then provide the host regulator with a certificate attesting that the insurer covers the EU Solvency Capital Requirement, as well as the nature of the business which the...

Written Answers — Department of Finance: Departmental Communications (30 Apr 2014)

Michael Noonan: In response to the Deputy's question phone calls into or out of my Department are not currently being recorded nor have they been recorded in the past.  

Written Answers — Department of Finance: Freedom of Information Requests (30 Apr 2014)

Michael Noonan: The total number of Freedom of Information requests received by my Department between 1 January 2013 and 11 April 2014 was 265.  The number of these requests that were related to tobacco policies in general was 10. 7 of the 10 requests related specifically to standardising packaging of tobacco products and all 7 of these were made by an agent acting on...