Results 42,401-42,420 of 46,260 for speaker:Simon Harris

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: It is good to tease these matters out. Let me try to be clear. When we say conduct of business must be regulated by the Irish Central Bank, we refer to the interaction the bank has with its customer, and it is done here, whereas prudential issues such as solvency are regulated in Greece. The legislation is about consumer protection, which will be regulated by the Irish Central Bank.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: The conduct of business by the Greek bank we are using as an example must be regulated by the Central Bank of Ireland. The Deputy may feel free to reflect on it between now and Report Stage. The suggestion that there is something going on in Greece, the Irish consumer has no protection here and conduct of business regulation is done in Greece is not true. In the Greek bank example, the...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: Yes, but the prudential insolvency issue comes under the home regulator, in this case Greece.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: The Department has discussed it with the Central Bank and is happy the Central Bank will have all the powers it requires under the existing framework in the example the Deputy cited. We have that assurance. The essence of the Bill is to ensure the Irish consumer has the same level of protection he or she had before the loan book was sold, which will be the case.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I move amendment No. 20:In page 6, after line 42, to insert the following:“Obligation on credit servicing firm and holder of legal title to credit 5. The Central Bank Act 1997 is amended by inserting the following section after section 34F (inserted by section 4):“34G. (1) A credit servicing firm shall not, on its own behalf or on behalf of, or on the instructions of, a person...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I welcome Deputy Boyd Barrett's acknowledgement that we are trying to address the concerns expressed on Second Stage by adopting a belt and braces approach. Without getting into an ideological debate on banking, a considerable number of people would like to take out mortgages to purchase their own homes. Home ownership is important for people in this country and many people want to get on...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: Without sounding circular in my position on this, I do not see what is earth-shattering about the comment by the Minister for Finance that if one takes out a loan of €300,000, by signing on the dotted line one has committed to paying back that loan. If somebody decides to sell one's loan to somebody else, one still owes the money. We need to make sure that people in such...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I move amendment No. 21:In page 7, line 17, to delete "paragraph (b)" and substitute "paragraph (c)". This is a technical amendment. The reference in the Bill as initiated should have been to "paragraph (c)" rather than "paragraph (b)".

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I hope I have got the right interpretation of the amendment. The Deputy can correct me if I do not. Section 6 amends the definition of an "eligible consumer" in section 57BA of the Central Bank Act 1942 to include a person whose loan is being serviced by a regulated credit servicing firm. This part of the 1942 Act deals with the Financial Services Ombudsman. The Deputy's amendment appears...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: I move amendment No. 27:In page 8, line 6, after "2014" to insert ", the Central Bank (Amendment) Act 2015". This is another technical amendment. The collective citation refers to all Central Bank Acts that may be cited together. The Central Bank (Amendment) Act 2015, which was enacted on 4 February, was not included in the original Bill as initiated.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: The Deputy has flagged it for Report Stage.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: At this stage I should signal to the committee that there may be further amendments on Report Stage. One possible amendment may centre around the requirements on credit servicing firms, arising from our discussions with the Central Bank.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015: Committee Stage (27 May 2015)

Simon Harris: Thank you, Chairman.

Business of Dáil: Motion (27 May 2015)

Simon Harris: Is the Leas-Cheann Comhairle going to chair this House?

Business of Dáil: Motion (27 May 2015)

Simon Harris: He is wasting time.

Business of Dáil: Motion (27 May 2015)

Simon Harris: Why does the Deputy not just sit down?

Written Answers — Department of Public Expenditure and Reform: Flood Relief Schemes (27 May 2015)

Simon Harris: The BandonFlood Relief Scheme is currently at tender stage for procurement of a civil works contractor. The pre-qualification process to provide a shortlist of contractors is completed and tender documents are currently being finalised and are expected to be issued very shortly by the Office of Public Works (OPW) to the applicants who were selected to tender for the project. The Skibbereen...

Return to Writ: Carlow-Kilkenny - Introduction of New Member (26 May 2015)

Simon Harris: We were canvassing for the referendum.

Seanad: Customs Bill 2014: Second Stage (26 May 2015)

Simon Harris: I am pleased to be here to debate the Customs Bill 2014, which was published on 3 October 2014. The purpose of the Bill is to consolidate, revise and modernise Ireland's existing national customs legislation, some of it dating back to the Customs Consolidation Act 1876. The Customs Bill can thus be seen as another significant milestone in the Revenue Commissioners' comprehensive programme...

Seanad: Customs Bill 2014: Second Stage (26 May 2015)

Simon Harris: I thank Senators for the welcome given by all sides of the House to the Bill and for their considered contributions on Second Stage. As I have stated previously and as Senators on all sides have reiterated, most of the customs legislation has stood since before the State was founded, in the form of the Customs Consolidation Act 1876. That Act has been extensively adapted and amended in the...