Results 3,241-3,260 of 32,527 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Vehicle Registration Tax (30 Nov 2022)

Paschal Donohoe: I propose to take Questions Nos. 72 and 73 together. Officers of the Revenue Commissioners have a statutory power under section 141 of the Finance Act 2001 to seize a vehicle as liable to forfeiture where there has been a breach of VRT legislation. Revenue has statutory discretion to restore goods that have been seized as liable to forfeiture. This process is referred to in the Vehicle...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: I can indeed. I thank Deputy Doherty. Section 3 extends the Central Bank's existing power to make regulations under section 48 of the Central Bank Act 2013 in order to provide for the senior executive accountability regime. It provides power to the bank to make regulations for the proper and effective regulation of regulated financial service providers. By so doing it aims to introduce a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: The sections the Deputy has raised refer to the arrangements for the regulated financial service provider to allocate to PCF holders for the purposes of section 53(b) of the Central Bank Reform Act 2010 responsibility for aspects of its affairs specified in relation under section (2)(bb). I have the material in front of me which I can share with the Deputy as opposed to reading it out here....

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: Bear with me Deputy. My officials will get it for me and I will confirm that to him in a moment. My officials tell me that is the right section.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: Where is-----

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: That is what we are inserting. Under the item the Deputy referred to what we are doing is inserting into that Act the text that is now the subject of the new piece of legislation.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: The piece of text the Deputy referred to is being amended via this Act in section 3.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: It is under the section entitled "duty of responsibility". It is section 53.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: That is the section that is amending the Act to which the Deputy refers.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: Absolutely. To answer the Deputy's question, the text of the Bill now reads: Section 48 of the Act of 2013 is amended— (a) in subsection (2), by the insertion of the following paragraphs after paragraph (b): “(ba) provision specifying the aspects of a regulated financial service provider’s affairs for which a PCF holder has inherent responsibility for the purposes...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: That is correct. The purpose of the prescribed responsibilities will be to provide clarity for a firm and the Central Bank as to who is responsible for the key activities of that firm. The Deputy is correct. That is what this section does.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (30 Nov 2022)

Paschal Donohoe: Yes. That is correct.