Results 22,801-22,820 of 32,864 for speaker:Paschal Donohoe

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: Neither the Department of Finance nor the Comptroller and Auditor General have any role in relation to examining the procurement processes of the Special Liquidators. The liquidation of IBRC is similar to any other liquidation with the exception that the Special Liquidators have been appointed by the Minister under the Irish Bank Resolution Corporation Act 2013 rather than appointed by the...

Written Answers — Department of Finance: IBRC Liquidation (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 136 and 137 together. In February 2013 Kieran Wallace and Eamonn Richardson of KPMG were appointed on foot of the Special Liquidation Order by the then Minister for Finance as Special Liquidators of IBRC and were tasked with managing the winding-up of the institution. This process is ongoing. The Special Liquidators are obliged to comply with the...

Written Answers — Department of Finance: IBRC Expenditure (11 Sep 2017)

Paschal Donohoe: There has been no increase in the rates of fees charged by the Special Liquidators of Irish Bank Resolution Corporation Limited since the date of their appointment. The rates being charged are based on NAMA-negotiated rates for relevant services. These NAMA rates were put in place following a competitive tender conducted by NAMA.

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (11 Sep 2017)

Paschal Donohoe: Section 477C of the Taxes Consolidation Act is the legislation that provides for the Help-to-Buy initiative. The legislation states that in order for a first-time purchaser to be eligible for Help to Buy, he or she must enter into a contract with a Qualifying Contractor. If first-time purchasers do not purchase from a Qualifying Contractor, it is not an eligible house purchase. For...

Written Answers — Department of Finance: Central Bank of Ireland Staff (11 Sep 2017)

Paschal Donohoe: I am informed that the Central Bank Commission approved an additional complement for 2017 to circa 1,800 staff, which will be a target net increase of 200 staff on the total at end 2016.  This expansion included dedicated resources of an additional 28 staff to address specific Brexit-related new business needs within existing divisions.  Of these 28 staff, 18 have been...

Written Answers — Department of Finance: Services for People with Disabilities (11 Sep 2017)

Paschal Donohoe: I understand that the Deputy's question is focused in particular on my Department's Website, Audio & Telecommunications Services which are available to external customers and users. I am please to confirm that, in line with the commitments set out in our Customer Charter, our newly relaunched Departmental website has been designed with the aim of achieving conformance Level...

Written Answers — Department of Finance: Motor Insurance Costs (11 Sep 2017)

Paschal Donohoe: Differing costs of insurance between different markets and jurisdictions is an issue that exists across the EU. This arises for a range of reasons such as for instance differences in the size and volume of insurance awards.  While I cannot comment on the particular circumstances of the quotations that the Deputy references, and if such differences are typical, I would note that Northern...

Written Answers — Department of Finance: Help-To-Buy Scheme Eligibility (11 Sep 2017)

Paschal Donohoe: I am advised by the Revenue Commissioners that the contractor from whom the persons concerned purchased the property is not on the register of approved contractors. I am also advised that there is some doubt in relation to the eligibility of the property in question for the Help-To-Buy scheme. I understand that Revenue is making direct contact with the persons concerned to make...

Written Answers — Department of Finance: Personal Contract Plans (11 Sep 2017)

Paschal Donohoe: Personal Contract Plans (PCP) are a form of Hire Purchase and both the Central Bank and the Competition and Consumer Protection Commission (CCPC) have certain functions and legal powers in relation to the provision of hire-purchase agreements. Hire-purchase providers are not required to seek authorisation from the Central Bank or the CCPC for the provision of hire-purchase...

Written Answers — Department of Finance: Disabled Drivers and Passengers Scheme (11 Sep 2017)

Paschal Donohoe: The Disabled Drivers and Disabled Passengers Scheme provides relief from VAT and Vehicle Registration Tax, an exemption from motor tax and a grant in respect of fuel expenditure, on the purchase of an adapted car for transport of a permanently and severely disabled person within the terms of the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations 1994. The...

Written Answers — Department of Finance: Housing Issues (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 146 and 147 together. As the Deputy is aware, the National Housing Co-operative Bill 2017 has been initiated in Seanad Éireann and the Bill has also been the subject of consideration by the Oireachtas Committee on Finance, Public Expenditure and Reform and Taoiseach.  When I appeared before the Committee on 6 July last in advance...

Written Answers — Department of Finance: European Council Meetings (11 Sep 2017)

Paschal Donohoe: The last ECOFIN Council, that I attended, took place on 11 July 20217 in Brussels.  It was the first Council of the Estonian Presidency.  The main items discussed are as follows. Legislative deliberations Ministers were debriefed on the state of play on the current legislative proposals in the field of financial services. The Commission presented a proposal regarding mandatory...

Written Answers — Department of Finance: Central Bank of Ireland Staff (11 Sep 2017)

Paschal Donohoe: The Central Bank is committed to increased participation and influence in international fora and as a result secondments to roles of strategic importance are a key priority.  The Bank also attaches importance to secondments as development opportunities.   I am informed that as at 31 August 2017, the Central Bank of Ireland has 75 employees on secondment.

Written Answers — Department of Finance: Mortgage Lending (11 Sep 2017)

Paschal Donohoe: The Central Bank of Ireland, in line with its mandate to safeguard financial stability, has put in place macro-prudential measures for residential mortgage lending.  These measures apply proportionate loan-to-value and loan-to-income limits to mortgage lending by regulated financial service providers in the Irish market.   The Central Bank is...

Written Answers — Department of Finance: Motor Insurance (11 Sep 2017)

Paschal Donohoe: I propose to take Questions Nos. 151 and 186 together. As Minister for Finance, I am responsible for the development of the legal framework governing financial regulation.  Neither I nor the Central Bank of Ireland can interfere in the provision or pricing of insurance products, as these matters are of a commercial nature, and are determined by insurance companies based on an...

Written Answers — Department of Finance: Tracker Mortgages Examination (11 Sep 2017)

Paschal Donohoe: The Tracker Mortgage Examination is the largest most complex and significant supervisory review that the Central Bank has undertaken to date in the context of its consumer protection mandate and involved an initial review of more than two million mortgage accounts by lenders to identify the number of "in scope" accounts.  The Examination continues to be a priority for the Central...

Written Answers — Department of Finance: Mortgage Lending (11 Sep 2017)

Paschal Donohoe: Residential mortgage lending to consumer borrowers, including bridging finance which is provided for a housing purpose, has to comply with the legislative and regulatory provisions which govern such lending, including the relevant provision of the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 and the Consumer Protection Code.  However, within this...

Written Answers — Department of Finance: Tax Code (11 Sep 2017)

Paschal Donohoe: Section 22 of the Finance Act 2016 made an amendment to section 110 of the Taxes Consolidation Act 1997 to address the concern that some section 110 companies were being used to minimise the Irish tax exposure on Irish property transactions.  The core effect of the amendment is to remove the possibility for section 110 companies to use what are known as 'profit participating notes' to...

Written Answers — Department of Finance: Tax Code (11 Sep 2017)

Paschal Donohoe: Section 110 is intended to create a tax neutral regime for bona fide securitisation and structured finance purposes.  It has been part of our corporation tax code since 1991, with significant amendments in 2003.  Securitisation involves the creation of tradeable securities out of an income stream or projected future income stream generated by financial assets.  The transaction...

Written Answers — Department of Finance: Flood Risk Insurance Cover Provision (11 Sep 2017)

Paschal Donohoe: I am conscious of the difficulties that the absence or withdrawal of flood insurance cover can cause to home owners and businesses alike, and that is one of the reasons the Government has been prioritising investment in flood defences over the last number of years.  However, the provision of insurance cover and the price at which it is offered is a commercial matter for insurance...