Results 3,421-3,440 of 4,810 for speaker:Liam Twomey

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: Subsection (8) of section 29A as inserted by amendment No. 4 indicates that if the notice is not published, it does not matter. That is my reading of it.

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: It does not affect the banks.

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: If the banks continue with the status quo, the legislation can be dismissed by them because they are still protected. Why are we bothering putting in place legislation that is supposed to give information to us as legislators and the public, but if the banks keep us in the dark, as we have been in recent days, it is fine? That is my basic reading of the section but perhaps my interpretation...

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: It still makes no sense.

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: Before we finish up I wish to point out that at all times we attempted to facilitate the Government in getting this legislation through as quickly as possible because of the very important deadline of tomorrow. It will be important legislation in the financial regulation of our economy and we fully endorse many of the sections in the Bill. We are disappointed the section dealing with...

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: Yes.

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: I asked the Minister of State to explain the motivation behind this proposal and to outline how this section found its way into the Bill. The Minister of State's comments about the finance Bill were right, but the provision relating to ministerial pensions could be included in the forthcoming social welfare Bill. Perhaps it would not sit easily with the Government to include in that Bill,...

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: Deputy Richard Bruton is a man of great integrity. When he acknowledges that he did not know about this last week when he allowed this legislation to go through, he is attempting to preserve the integrity of the Houses of the Oireachtas. He allowed this legislation go through because he was not fully informed. We are now fully informed as to what is happening——

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: It was left at that, even though people on the other side of the House are usually quite good at giving far more information than just replying with a "Yes". This is a serious issue and it is a recent happening. I ask the Minister of State to provide the background information to this section of the Bill. When did the Department of Finance decide to include this provision in the Bill and...

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: It has not.

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: Is there anyone else involved?

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: This section applies also to Ministers who would have been——

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: There is a retrospective element to this section in the sense that any Minister who served less than three years but more than two years prior to 1993 could also be in line for a pension. Obviously that comes into the equation as well as what we have discussed. The motivation behind all this is quite specific in that one is looking after ministerial pensions and not just for the former...

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: One of the funny things is that when the Government is exposed for the codology it gets up to——

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: ——it is considered to be the fault of the Opposition that the Government serves the people so badly. Let us get away from type of nonsense. This section has obviously been slotted in to suit ministerial colleagues. Given that the Government likes to boast about how long it has been in power, its members will obviously benefit most.

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: As other Senators have asked, are there any other anomalies within the Department of Finance? While I do not want to put the Minister of State's officials on the spot, it is obvious that this section was slotted into this important legislation. Are there any other anomalies in the Department of Finance that should be dealt that? A former Minister has benefited quite substantially from this...

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: There are anomalies in the public service that have not been raised with the Government or that it does not feel the need to address. We did our best to accommodate the passing of this legislation because we were told it needed to be passed by tomorrow or else there would be problems for the Government. It might have been clever on its side to try to slip this one through at short notice....

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: None of our questions has been answered. I asked if any other anomalies are floating around the Department of Finance.

Seanad: Markets in Financial Instruments and Miscellaneous Provisions Bill 2007: Committee and Remaining Stages (31 Oct 2007)

Liam Twomey: There is considerable correspondence.

Seanad: Order of Business (31 Oct 2007)

Liam Twomey: What should have been a watershed in efforts to improve road safety has degenerated into a chaotic and shambolic event. Is this the best the Government can do on road safety? There is an urgent need for the Minister for Transport, Deputy Dempsey, to come into this House and explain why he was about to criminalise 120,000 drivers with provisional licences. He is covering up his significant...