Results 3,281-3,300 of 16,537 for speaker:Brian Lenihan Jnr

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: I assume that NAMA will be anxious to give all the information possible to the committee.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Members of the House should be aware the Opposition was consulted about the appointments to the board of NAMA and had a real say and input in that regard.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Through the party leaders and——

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Fianna Fáil has no nominees on the board either. Persons were nominated to the board following a consultation process with the Opposition parties. I am sorry, but some of the names put forward by the Opposition parties were appointed to the board. This board is not acting in bad faith, and neither am I.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: The Deputy has made some big accusations today.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: We are in Dáil Éireann. As far as the statutory instrument Deputy O'Donnell referred to is concerned, it is SI 127 of 2010. It concerns guidelines issued under section 210(1) of the National Asset Management Agency Act regarding lending practices and procedures and relating to the review of decisions of participating institutions to refuse credit facilities. That is the statutory basis...

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: That is the statutory basis for the credit reviewer's role. Deputy English had a number of questions, and perhaps he might refresh my memory. I believe he was concerned, first, about the value of the haircut imposed by NAMA. Everyone has recognised——

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: He was concerned about the recoverability of NAMA's loans.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: It is clear from what NAMA has done to date that it has valued the loans at a very substantial discount, so it is making its own assessment about recoverability in that context.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: Can I reply to the Deputy, because he said I smiled at the time when he put the question? The reason I smiled is that I found it unusual for a child to be described as a special purpose vehicle.

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: However, there is power in the NAMA legislation to set aside transactions executed in favour of family members, that would attempt to defeat its purposes in the collection of the debts. That is the statutory position in that regard. The ingenuity of the professional advisers who advise those who seek to arrange their affairs to avoid enforcement has to be matched by the ingenuity of NAMA in...

Banking System: Statements (1 Apr 2010)

Brian Lenihan Jnr: All institutions in relation to capital, as I have outlined both in the supplementary——

Written Answers — National Treasury Management Agency: National Treasury Management Agency (31 Mar 2010)

Brian Lenihan Jnr: The National Treasury Management Agency is responsible for borrowing on behalf of the Exchequer. In order to raise funding, the Agency has developed and continues to develop a wide portfolio of debt instruments designed to respond to the needs of the market and to ensure the appropriate overall structuring and management of the National Debt. The Agency has indicated that index-linked bonds...

Written Answers — Pension Provisions: Pension Provisions (31 Mar 2010)

Brian Lenihan Jnr: The maximum allowable pension fund that an individual can build up from tax-relieved contributions is known as the Standard Fund Threshold or SFT. The SFT is a lifetime limit which was introduced in Budget and Finance Act 2006 at an initial level of €5 million and was increased in line with an indexation factor in 2007 and 2008 to its current value of just over €5.4 million. In line with...

Written Answers — Departmental Expenditure: Departmental Expenditure (31 Mar 2010)

Brian Lenihan Jnr: The Office of Public Works have informed me that they are in the process of collating the data requested by the Deputy in his PQ of March 2010 in relation to the amount they have spent on car parking facilities provided to Government Departments in 2009. They expect to be in a position to have this information supplied to the Deputy by the end of next week.

Written Answers — Tax Code: Tax Code (31 Mar 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that while there are no Stamp Duty reliefs relating specifically to a change of residence to accommodate the disability of a family member, exemptions or reliefs (depending on floor area) are available to all non-first time buyers, regardless of circumstances leading to the change of residence, in respect of the purchase of a new house or apartment to...

Written Answers — Tax Code: Tax Code (31 Mar 2010)

Brian Lenihan Jnr: I should point out that the Commissioner of Valuation is independent in the exercise of his duties under the Valuation Act 2001 and I, as Minister for Finance, have no function in decisions in this regard. The Valuation Act 2001 provides that all buildings used or developed for any purpose, including constructions affixed thereto, are rateable unless expressly exempted under the Act. A store...

Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (31 Mar 2010)

Brian Lenihan Jnr: The Delegation of Banking System Functions Order 2010, SI 115 was prepared by the Office of the Parliamentary Counsel. Each of the functions referred to by the Deputy has been delegated under Section 5 of the National Treasury Management Agency Act 1990, which provides that the Government may delegate to the Agency the functions of the Minister for Finance specified in the First Schedule to...

Written Answers — Departmental Expenditure: Departmental Expenditure (31 Mar 2010)

Brian Lenihan Jnr: No additional funds are being provided for the re-naming of Departments as announced by the Taoiseach in the Dáil on 23rd March. Any administrative costs that do arise will be met from within the existing Administrative Budget allocations of the Departments concerned.

Written Answers — Pension Provisions: Pension Provisions (31 Mar 2010)

Brian Lenihan Jnr: I understand that the Deputy has received answers from the Minister for Social and Family Affairs and myself that need clarification. The Deputy will appreciate that the subject matter of her PQ is a complex matter that requires examination. Accordingly I have asked my Department to look into the matter in consultation with the Financial Regulator and I will write to the Deputy when I have...