Results 3,301-3,320 of 16,537 for speaker:Brian Lenihan Jnr

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

Brian Lenihan Jnr: I am informed by the Revenue Commissioners that jobseekers benefit payable to a casual or part-time worker is chargeable to income tax. The amount chargeable is the aggregate of the amount payable to that individual for one or more days in any income tax week less the first €13 of the aggregate of the amount payable in any income tax week, and any amount payable in respect of a qualifying...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: Following an application by the Financial Regulator yesterday, Mr. Justice John Cooke in the High Court appointed Mr. Michael McAteer and Mr. Paul McCann from Grant Thornton to act as the two joint provisional administrators to Quinn Insurance Limited, under the Insurance (No 2) Act 1983. They have already begun their work and have an on-site presence in the company. They will oversee its...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: First, with regard to the suggestion, which I understand was made in a press release circulated on behalf of the Quinn Group, that this was a highly aggressive and unnecessary action which endangers jobs, I make it clear that the regulator is acting in the proper performance of his functions. That is what I and, I am sure, every Member of this House would expect him to do. The regulator has...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: First, I would like to put certain facts on the record of the House in regard to Quinn Insurance Limited generally, which might assist the House in understanding the significance of the company, the number of employees involved and the prospects of the company in the home market. Quinn Insurance Limited has approximately 1.3 million policyholders - 920,000 in the State and 365,000 in the...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: The suggestion was that this was a highly aggressive and unnecessary action. I was anxious in that context to underline the statutory functions of the Financial Regulator and to express my full confidence in him. I do not accept the suggestion that this is a highly aggressive and unnecessary action. On the question of the risk to jobs and employment, the Financial Regulator, the...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: Deputy Bruton will appreciate that the amount of information at our disposal at this stage is necessarily interim in character. It is not possible to arrive at a final assessment on some of the questions he asked. It is clear that when the regulator saw the difficulty, his immediate and proper instinct was to apply to the court to protect the position. With regard to the persons for whose...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: -----or was required. These transactions existed entirely outside the regulatory system. Beyond that I am not in a position to go further this afternoon.

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: According to my information, the creditors in whose favour these instruments were executed did not include Anglo Irish Bank or parties associated with it. In regard to a former Secretary General of my Department, I have no information on that issue. I am not aware that a former Secretary General was involved with the Quinn Group at any stage. As to gifts between companies, Deputy Burton is...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: I am using the term "special contingent" in the context of insolvency law and not in regard to balance sheet operations. It is important to assure policy holders that their claims can be met as they fall due. The basis for the concern about solvency outlined in the application to the court related to contingency rather than an actual position.

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: I am not trying to lecture the Deputy when I say it is important to understand that the issue does not pertain to assets and liabilities but to the ability to pay obligations as they fall due. The statement in my earlier reply on assets and liabilities is the current position on solvency buffers as a result of the information which came to the attention of the Financial Regulator. The...

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: I refer to Deputy O'Donnell's question. The hearing will take place in the High Court on Monday, 12 April. That will provide the regulator with an opportunity to make a fuller case for the appointment of the administrator. It will allow Quinn Insurance to either address the concerns of the regulator or counter them. The court will then have to make its decision on the evidence submitted....

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: It is business as usual as far as hospitals and policies are concerned. That is the position and I see no credit risk at this stage.

Insurance Industry. (31 Mar 2010)

Brian Lenihan Jnr: The administrators will do their work, we will have a far clearer picture on 11 April and we will proceed from there. As I indicated already to Deputy Burton in respect of Anglo Irish Bank, on the information available to date the creditors in question were not Anglo Irish Bank.

Written Answers — Legislative Programme: Legislative Programme (30 Mar 2010)

Brian Lenihan Jnr: The concerns outlined in the correspondence enclosed by the Deputy refer to the need to update legislation governing the operation and regulation of credit unions in Ireland and to the proposal to amend Section 35 of the Credit Union 1997 which imposes limits on credit unions in relation to longer-term lending. With reference to credit union legislation, I agree that the current legislative...

Written Answers — Departmental Agencies: Departmental Agencies (30 Mar 2010)

Brian Lenihan Jnr: The information requested in relation to agencies under the aegis of my Department is set out below. It should be noted that it is not the practice to identify individuals in relation to voluntary deductions from their remuneration. National Lottery Special EU Programmes Body (has 2 sponsor departments: Department of Finance and Department of Finance and Personnel of Northern Ireland)...

Written Answers — Tax Code: Tax Code (30 Mar 2010)

Brian Lenihan Jnr: I announced in the Budget that a carbon tax at a rate of €15 per tonne is being introduced on fossil fuels. The tax was applied to petrol and auto-diesel with effect from midnight, 9 December 2009; and will apply from 1 May 2010 to kerosene, marked gas oil (also known as 'green diesel' or 'agricultural diesel'), liquid petroleum gas (LPG), fuel oil and natural gas. The application of the...

Written Answers — Tax Collection: Tax Collection (30 Mar 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that tobacco products tax is not, by virtue of section 104(2) of the Finance Act 2001, chargeable on cigarettes that are bought tax-paid by a private individual in another Member State of the European Union. The cigarettes must be acquired by the person for his or her own use and not for commercial purposes, and be personally transported and...

Written Answers — Financial Services Regulation: Financial Services Regulation (30 Mar 2010)

Brian Lenihan Jnr: I am informed by the building society that the bonus has not been repaid but that the society is continuing to pursue the matter. I have asked the society to continue to strongly press this matter and I fully support the society's efforts to recoup the payment in accordance with the commitment made by the former chief executive.

Written Answers — Public Service Contracts: Public Service Contracts (30 Mar 2010)

Brian Lenihan Jnr: Public contracts valued at approximately €4.5 billion were advertised by Irish contracting authorities in the Official Journal of the European Union in 2008. Of this total, returns from contracting authorities indicate that contracts to the value of over €4 billion were awarded to Irish companies.

Written Answers — Tax Collection: Tax Collection (30 Mar 2010)

Brian Lenihan Jnr: I am advised by the Revenue Commissioners that a Revenue Official contacted the taxpayer on 25 March 2010 and advised her that the form P21 for 2009 issued on 23 March 2010. A further copy was also posted on the 25 March 2010.