Results 3,761-3,780 of 33,118 for speaker:Paschal Donohoe

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: There will be internal Central Bank employees on the panel. They will focus in particular on the fitness and probity dimensions of the work.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: No, we have not laid that down.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I will need to get that for the Deputy.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 58 In page 70, line 29, to delete “served on” and substitute “given to”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 59: In page 70, lines 30 and 31, to delete “subsection (2)” and substitute “subsections (2)and (3)”. Amendment No. 59 is a technical amendment to extend the reference to include the new subsection to be added by amendment No. 60. Amendment No. 60 provides a new subsection (2) to provide that the obligation to provide a discontinuance...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 60: In page 70, to delete lines 32 to 34 and substitute the following: “(2) Subsection (4) of section 25A of the Act of 2010 as inserted by section 15 applies in relation to an investigation referred to in subsection (1) which is discontinued on or after the commencement of section 15. (3) Section 41 of the Act of 2010 as substituted by section 25 applies in...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Have we dealt with amendment No. 58?

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: It was discussed under section 59.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 61: In page 71, between lines 16 and 17, to insert the following: “Continuing functions under section 52 of Act of 2010 91. (1) In subsection (4) of section 52 of the Act of 2010 as amended by section 35— (a) paragraph (a) does not apply where the person concerned formed the opinion referred to in that paragraph before the commencement of section 35,...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 62: In page 71, between lines 16 and 17, to insert the following: “Application of Part IIIC of Act of 1942 to participation in prescribed contraventions before commencement of section 46 92. Part IIIC of the Act of 1942 as amended by this Act applies as if references to participation, while performing a relevant controlled function, in the commission of a...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 63: In page 71, line 33, to delete “Section 33AO of the Act of 1942 as substituted by section 44, where it applies” and substitute the following: “Subsections (1) and (2) of section 33AO of the Act of 1942 as substituted by section 44, subsection (2A) of section 33AQ of that Act as amended bysection 46, and subsections (1)(a) and (3)(a) of section...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 64: In page 71, line 34, to delete “has” and substitute “have”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: It will apply for individuals as well.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Where a regulated firm or an individual agrees to enter into a settlement agreement with the Central Bank, a reduction may be applied to the sanction. Details of the early settlement discount scheme are set out in the outlines of the administrative procedure of 2018. Once the terms of the settlement agreement have been agreed by the Central Bank and the regulated firm or individual, the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I will answer that question shortly.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I will deal with the two points the Deputy has put to me. First, as to whether a financial services provider can pay the fine on behalf of an individual, yes, that is possible - it can. I am advised that changing that would require a lot of careful consideration regarding how it could be done and would take further legislative work. The answer to the Deputy's question is that, yes, it can...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I do not believe we should pay people. We should not have to pay people for revealing wrongdoing or reward them for so doing. That is my initial reaction to it. With regard to people who bring forward information under whistleblowing legislation, in my experience, the overwhelming majority of them do it for good reasons. I worry that offering financial reward for that could send out the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I believe the Deputy is correct.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Individual Accountability Framework) Bill 2022: Committee Stage (Resumed) (7 Dec 2022)

Paschal Donohoe: I move amendment No. 64: In page 71, line 34, to delete “has” and substitute “have”. This is a group of amendments that includes Nos. 65 to 67, inclusive. Amendment No. 65 removes a definition no longer required. Amendment No. 66 is a technical amendment to include all notices issued by the bank so that none are excluded. Amendment No. 67 provides clarity as...