Results 3,281-3,300 of 16,849 for speaker:Dermot Ahern

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: Amendments Nos. 6 and 8 will insert definitions of "member" of a designated accountancy body in the definition section of the Bill, and in section 24 for the Irish Taxation Institute. Amendment No. 8 amends the current definition of "relevant professional advisor" which is currently contained in the section. It was considered important that the definition for members of these groups be...

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: In a nutshell, the provisions in the Bill allow us to designate further classes of practitioners if the need arises. We believe we have included the required number and type of practitioner in this area as much as we can in the Bill. The issue of the definition of an accountant is a matter for other legislation. On this Bill, if there are groups of people or individuals who are holding...

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: The proposed amendment would have the effect of inserting the term "insolvency practitioner" in the definition of "professional service provider" and also in the list of designated persons in section 25. The primary purpose of the Bill is to transpose the requirements of the third EU directive which does not require the designation of insolvency practitioners, although this does not prevent...

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: Section 33 is an essential part of the customer due diligence provisions in the Bill. Customer due diligence is a key feature of the money laundering system, central parts of which are the requirements to identify customers and ongoing monitoring of such customers and transactions. The amendment relates to section 33(1)(d) which provides that the identification and verification measures set...

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: The purpose of the amendment is to correct an error in the text of section 34 which should read, "the treaties". Amendment agreed to.

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: The amendments apply the same principles arising from amendments made on Committee Stage, which is important for reasons of clarity and consistency. I brought forward amendments on Committee Stage to include a definition of "occasional transaction" in section 24 and an amendment to section 33(1)(b) as a result. The proposed amendment to section 37(2)(b) also reflects these changes. The...

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: These amendments arise in section 37 which provides for enhanced customer due diligence to be carried out in regard to persons who are politically exposed persons. The provisions being amended are those dealing with the requirements that designated persons obtain approval from senior management before a business relationship is established with a politically exposed person and determining...

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: As I said previously, I do not regard it as bureaucratic overload that people are obliged to report to both bodies. It is important that, while there is a good connection and communication on an ongoing basis between the Garda Síochána and the Revenue Commissioners, the requirement is that a report be made to both, just in case. It is a double-lock, as it were, from the State's point of...

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: It is a matter of principle every time a Bill passes through the Dáil that a member of the Labour Party proposes such an amendment because some of the backroom people feel this is absolutely necessary.

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: I was joking. Perhaps someday the Government will amend the Interpretation Act 2005 in order that we can get rid of this amendment that is proposed to every Bill. The stock answer is that it is not required. That is the advice from the Office of the Attorney General on the interpretation of the Interpretation Act 2005 in respect of the definition of the word "oath".

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: As I stated on Committee Stage, the issue of civil or criminal liability could not arise unless there was a breach of an enactment or rule of law. The section specifically states that in the circumstances set out, it would not constitute such a breach. The inclusion of an express reference to liability is not required. while I appreciate the intention of the amendment, I cannot accept it....

Seanad: Criminal Justice (Money Laundering and Terrorist Financing) Bill 2009: Report and Final Stages. (21 Apr 2010)

Dermot Ahern: ): I thank Senators on all sides of the House for their work on the Bill. I do not say this because I am present in the House or in a political way, but I disagree with the suggestion that we get rid of the Seanad, as I very much welcome the exchanges on legislation in this House. From the point of view of the examination of legislation, it is important that we have two Houses. It is a...

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: ): This is a technical amendment which spells out more clearly that the Act can be brought into force on different days in respect of different property services, or different provisions of the Act. Amendment agreed to. Section 1, as amended, agreed to. SECTION 2.

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: These amendments, which replace the current definitions of advised letting value and advised market value, are being introduced in response to suggestions made during the Second Stage debate when submissions were received from representatives of the property services industry. Revised definitions are based on the definition in the Red Book which contains internationally recognised surveyor...

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: It is purely and simply to align ourselves with the internationally recognised definitions contained in the Red Book, which is the book that contains the definitions that surveyors normally follow. Amendment agreed to. Government amendment No. 3: In page 10, subsection (1), to delete lines 28 to 35 and substitute the following: " "advised market value", in relation to land valued for sale by...

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: This amendment is intended to introduce some flexibility in the requirement to make contributions to the compensation fund. The Bill provides for the establishment of a compensation fund to provide compensation to clients who lose money as a result of dishonesty on the part of licensees. The Bill also provides that licensees must have professional indemnity insurance. It is a matter for...

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: Amendment No. 51 inserts a new section 45. In accordance with sections 30, 31 and 35, a licence will not be issued or renewed unless the applicant provides evidence that he or she has the required level of professional indemnity insurance. The new section 45 is intended to ensure the required insurance is maintained throughout the period of validity of the licence. Subsection (1) of the...

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: This amendment introduces definition of "independent contractor" to ensure it is clearly understood. An independent contractor is defined as an individual who provides property services, but does not employ anyone to provide such services on his or her behalf. Such an individual can operate on his or her own or can be an individual partner in a partnership. In the case of a partner in a...

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: Amendment No. 7 amends the current definition of property service to ensure the licensing requirements under the Bill are clear. I cannot accept amendment No. 8. Its effect would be to bring local authorities within the scope of the Bill. The functions of local authorities include the letting of residential property and the procurement of the maintenance and repair of residential...

Seanad: Property Services (Regulation) Bill 2009: Committee Stage. (21 Apr 2010)

Dermot Ahern: The reason they have been grouped together is that the Senator's amendment seeks to amend the old section. With regard to the proposal made in the amendment, we have consulted the Department of the Environment, Heritage and Local Government and its view is that the amendment should not be included in the Bill. The question would arise as to who one would license. It is something that would...