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Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: Can the Tánaiste answer the question?

Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: This is Leaders' Questions.

Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: Can the Tánaiste answer the question?

Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: The Tánaiste is talking down the clock.

Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: I am asking the Tánaiste questions. It is Leaders' Questions.

Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: The Tánaiste has mentioned every area in Cork. Does he think there is an election coming?

Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: I ask the Tánaiste to answer the question. It is Leaders' Questions.

Ceisteanna ó Cheannairí - Leaders' Questions (17 Oct 2024)

Mairéad Farrell: The serial waste of the public's money on the watch of the Government is absolutely astonishing. The catalogue of waste is well rehearsed. A sum of €336,000 was spent on a bicycle shelter and the Government cannot even tell us who signed off on it yet. There was €1.4 million on a security hut. There was a doubling of the cost of modular homes for Ukrainians to a jaw-dropping...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: Gabhaim buíochas leis an Leas-Chathaoirleach agus leis na finnéithe as teacht os comhair an choiste. In the briefing pack it is mentioned that the Charities Regulator is responsible for the registration and regulation of charities in Ireland. Can I take it that the regulator grants charitable trust ownership structures to companies here as well? In other words, they must apply to...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: All right. Under the 2009 Act, the regulator is required to ensure and monitor compliance by charitable organisations and to carry out investigations in accordance with the Act. Does that apply to all companies with a charitable ownership structure?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: Does this include the type of structures that are traded within the IFSC?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: Why is that?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: I understand the regulator looked into this in 2017 and I think four companies were identified as using that section 110. Am I correct?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: According to a press statement from 2017 that the regulator has on its website: The Charities Regulator has completed a review of registered charities holding shares in section 110 companies on trust. The purpose of the review was to establish the number of registered Irish charities holding shares in section 110 companies and to determine whether they fell within the remit of the...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: It would be fantastic if that could be brought to the committee. I am talking about three structures and obviously I am not aware of what three they were or anything like that, so I am not speaking about them. I am sure they are doing fabulous work. When the regulator is looking at those I assume it looks into the background of them, such as the way they are constituted and if there is a...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: That is good. I asked about that because over the last two and a half years there has been significant interest in the IFSC and IFSC-based shell companies that often use charitable trust ownership structures. Some of these firms have billions in assets. We know about some examples from research carried out by academics in Trinity College showing that Russian-connected funds funnelled...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: Okay, but from the regulator's press statement there was the suggestion there were three that were using section 110. Ms. Delaney may wish to come back on that. I am just asking these questions because it is something I have a long interest in and it has been in the public eye. The Department of Finance did a review of section 110 in its entirety in the last year. Did it at any point ask...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairéad Farrell: 2023.

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