Results 34,341-34,360 of 36,133 for speaker:Pearse Doherty

Written Answers — Harbours and Piers: Harbours and Piers (28 Sep 2011)

Pearse Doherty: Question 132: To ask the Minister for Agriculture, Fisheries and Food if he has received an application for works on a pier (details supplied) in County Donegal; if he will approve this application; and if he will make a statement on the matter. [26511/11]

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: The Minister did not answer any of my questions.

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: A little bit more homework by the Minister would not go astray to help the functioning of this House. He stated he does not know how many people in the State will be affected by the legislation. He cannot even give an estimate although the number is probably in the hundreds of thousands. He told us today how much money will come into play but not how many people will be impacted. What...

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: If the Minister does not know whether it is a bondholder in Anglo Irish Bank that will be paid off as a result of the deal, he should note it has a fundamental bearing on the legislation. Only last week, if we are to believe what he told the people, he was over with his friends in Europe asking that unguaranteed bondholders in Anglo Irish Bank be burnt or made burden-share. If this were to...

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: I may accept that.

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: The Minister would like to have us believe he has no role, yet he told us we must pass this legislation before 4 October because the State must say the fund is in place to insure the losses before the sale to Mutual Liberty goes through. Deputy Noonan should not pretend that he, as a Minister for Finance proposing legislation that will affect hundreds of thousands of policyholders by...

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: Answer the question.

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: No.

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: It is not.

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: With due respect-----

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: -----the Minister cannot present this type of falsehood.

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: I never articulated that position. The Minister cannot answer the question.

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: With respect, you have not. Is it an Anglo Irish Bank bondholder?

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: On the risks excluded under section 2, I understand this comes from a European directive and that it is with regard only to risk within the State. My question on to whom the existing fund would be paid and whether it would be to policyholders in the State or outside it was not to argue we should not pay the insurance premiums of those outside the State; it was very much because the Minister...

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: I have two questions, one of which I have not posed before but I posed the other on Second Stage. First, I am curious as to where the figure originated of 65% of the claim being paid out to a maximum of €825,000. How was that percentage and value determined? What were the factors that led to a 65% figure being introduced in the legislation? Second, I am concerned by section 3C which...

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: I thank the Minister for his reply and can see where he is coming from. Please God, no company currently trading will have to go into administration anytime soon, but there is obviously a benefit for a company that has more than 70% of its business in this State. I am worried about a company that might have, for example, 32% of its business outside the State. We live on an island that is...

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: May I clarify this matter? I will take the example of a Donegal company that has 68% of its customer base in the South, but would not be able to apply to this fund when in administration. I presume that even though it would have 32% of its customer base in the North, it would still not be able to apply under the British fund because it is based in this State and the majority of its customer...

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: I take it that Michael Flatley's legs will not be paying into this insurance fund, given the exemptions the Government has got. I presume that the Minister's ability to pay into the fund itself is covered in the principal Act. What payment will be required this year and next year? How will the money be recouped? Is that covered in the principal Act?

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: Is it correct to say that the State will put in a sum in the region of €400 million in the next 24 months? Will the State receive a higher rate of interest on that money that it puts into this fund than what it paid to borrow the money from the EU and IMF at this time?

Insurance (Amendment) Bill 2011 [Seanad]: Committee and Remaining Stages (28 Sep 2011)

Pearse Doherty: Will we see a return on the money in two, three or four years time?