Results 2,101-2,120 of 35,129 for speaker:Seán Fleming

Seanad: Credit Union Restructuring Board (Dissolution) Bill 2019: Second Stage (24 Nov 2020)

Seán Fleming: I am nudging them into mortgage lending. It is the main message I have for credit unions. They should start giving mortgages to people, as those people would be happier taking a mortgage from a credit union than a bank which could sell the loan to an international vulture fund. I have never heard of a credit union doing that. I thank Senators for their input and I look forward to...

Seanad: Finance (Miscellaneous Provisions) Bill 2020: Second Stage (24 Nov 2020)

Seán Fleming: I appreciate the Seanad Éireann facilitating the taking of two Bills relating to credit union activities this evening. The Credit Union Restructuring Board (Dissolution) Bill 2019 has already gone through the Dáil and it should complete its passage through the Oireachtas next week. This Bill is starting here and will have to go to the Dáil but we want to ensure it is...

Seanad: Finance (Miscellaneous Provisions) Bill 2020: Second Stage (24 Nov 2020)

Seán Fleming: I thank the Senators for their contributions on, and support for, this legislative measure which will formally amend the Credit Union Act 1997 to allow for general meetings, which are prohibited under the current health restrictions, to proceed. Some of the amendments will be permanent and will continue to operate after the interim period early next year. The Bill also amends the Fiscal...

Investment Limited Partnerships (Amendment) Bill 2020: Second Stage (12 Nov 2020)

Seán Fleming: I thank Deputies Ó Murchú, Redmond and Nash for their contributions. While I accept the point that this is a technical Bill, it deals with many significant issues. On beneficial ownership and who will be the ultimate owner, the provisions in this Bill strive to achieve the objectives mentioned. These amendments will ensure that the highest international transparency standards...

Investment Limited Partnership (Amendment) Bill 2020: Referral to Select Committee (12 Nov 2020)

Seán Fleming: I move: That the Bill be referred to the Select Committee on Finance, Public Expenditure and Reform, and Taoiseach pursuant to Standing Orders 95(3)(a) to 181(1).

Investment Limited Partnerships (Amendment) Bill 2020: Second Stage (12 Nov 2020)

Seán Fleming: I move: "That the Bill be now read a Second Time." I welcome the opportunity to address the Dáil Chamber on the Investment Limited Partnerships (Amendment) Bill 2020 following progression of the previous Stages in the Seanad. This Bill fulfils a commitment in the Programme for Government - Our Shared Future to progress the revision of the investment limited partnership structure and...

Confidence in Tánaiste and Minister for Enterprise, Trade and Employment: Motion (10 Nov 2020)

Seán Fleming: This motion raises two important issues from my point of view. The first of these is the issue of confidentiality and accountability on the part of Government. This brings me to what I want to see more of in Irish public life, namely, more openness and transparency at government level. The public want and are entitled to more openness, accountability and transparency on the part of the...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Property Tax (10 Nov 2020)

Seán Fleming: I thank Senator Boyhan for raising this matter. He has given a very detailed list of properties that are exempt from the tax introduced in 2013 to provide a stable sustainable funding base for local authorities, broadening general taxation measures. It has raised approximately €3.5 billion to date. Approximately €473 million is raised by the tax per annum. This goes to fund...

Seanad: Nithe i dtosach suíonna - Commencement Matters: Property Tax (10 Nov 2020)

Seán Fleming: I understand the gist of the argument and accept what the Senator said. He highlighted regarding Dún Laoghaire the large amounts of money that may be due to a local authority when the changes are made next year. They will flow into 2022. As I said, the figure nationwide will be approximately €32 million. The programme for Government includes the provision for fairness and most...

Seanad: Data Protection Regulations: Motion (6 Nov 2020)

Seán Fleming: I bring the motion to the House to seek a resolution to agree the draft Data Protection Act 2018 section 60(6) (Central Bank of Ireland) Regulations 2020, as provided for under section 6(5)(a) of the Data Protection Act 2018. Senators will have gathered from the gist of this that it is a technical matter. I have a detailed script but perhaps the best thing I can do is to explain what this...

Seanad: Data Protection Regulations: Motion (6 Nov 2020)

Seán Fleming: I welcome this opportunity and appreciate all the comments that have been made. As people noted, many of the comments were not specific to this statutory instrument. Data breaches in financial institutions are one big issue that has been mentioned here on a few occasions. Some asked about the resourcing of the Data Protection Commission and whether it has sufficient resources to do the job...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: The amendment proposes a report on the Act. It is my intention, which I stated on Committee Stage, to lay a post-enactment scrutiny note 12 months after the enactment, in line with Standing Orders of the House. There will be a report, therefore. I am not in a position to prescribe what will be in that report before it is prepared but the gist of what is being said, and I referred to this...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: The normal process when legislation is going through the Houses is being applied. We are going through the deliberative process in respect of this Act and when that is completed the lobbying documents can be sought. All the documents in relation to lobbying on the Finance Bill and the budget, for example, can be made available in due course but not before they have been fully considered....

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: I hope I can allay the Senator's concerns on the issue. I understand her points. The legislation as drafted is remarkably strong and perhaps, inadvertently, the amendments would substantially weaken the beneficial owner framework and prevent full transparency in the beneficial ownership register. These amendments would allow an incorporated company to enter a date of incorporation or a...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: Once they control 25%.

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: That is correct.

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: I thank the Senator. While I understand the points she has made, we are concerned, to some extent, with money laundering and, possibly, some other areas. The definition of beneficial ownership in this Bill aligns with the definition in the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010. The specific definition of "beneficial owner" in the 2010 Act is a person who: ...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: I acknowledge the purpose of the Senator's amendment but the matter is well and truly dealt with and the position is clear. The Central Bank of Ireland is the body that will determine the position where a PPS number is not available and it will require a relevant identifier to its satisfaction. The normal procedure in place requires not just a passport number but actual copies of the...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: We have come to the kernel of what this legislation is about. To use a phrase that is well known to most people, this legislation does what it says on the tin. The legislation is called the Investment Limited Partnerships (Amendment) Bill 2020 and the essence of it is to give limited liability to limited partners. If we were to in some way take away a limited liability from a limited...

Seanad: Investment Limited Partnerships (Amendment) Bill 2020: Report and Final Stages (6 Nov 2020)

Seán Fleming: As discussed on earlier Stages, the 1994 Act permitting a limited partner to participate on the board and committees related to an investment limited partnership. Section 7 of the 1994 Act allows that. This adds board participation to the white list of activities that can be undertaken by a limited partner and that will not be deemed as taking part in the conduct of the business and that...