Results 5,541-5,560 of 16,537 for speaker:Brian Lenihan Jnr

Written Answers — Banking Sector Regulation: Banking Sector Regulation (13 Oct 2009)

Brian Lenihan Jnr: While this is not an issue that has been raised by the relevant stakeholders to my Department, I understand that the length of time it takes to clear an electronic transaction is dependant on whether the financial institution is a member of the Irish Retail Electronic Payments Clearing Company Ltd (IRECC). IRECC is responsible for the clearing and settlement of domestic low-value payments in...

Written Answers — Departmental Staff: Departmental Staff (13 Oct 2009)

Brian Lenihan Jnr: My attention has been drawn to the matter previously by the Deputy, by the person in question and by others. I am also aware that the matter has been investigated by the Revenue Commissioners and is also the subject of a complaint to the Ombudsman.

Written Answers — Stability and Growth Pact: Stability and Growth Pact (13 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 119 and 120 together. I assume that the Deputy is referring to Ireland's obligations under the Stability and Growth Pact (SGP) and in particular the excessive deficit procedure which is governed by Article 104 of the Treaty. Council Regulations Nos.1466/97 and 1467/97 as amended by Council Regulations Nos.1055/2005 and 1056/2005 respectively govern the...

Written Answers — Banking Sector Regulation: Banking Sector Regulation (13 Oct 2009)

Brian Lenihan Jnr: The loans referred to by the Deputy are loans currently on the books of the banks concerned. Should an investor seek to negotiate a purchase of these loans, it is a matter for the boards of the institutions to deal with on a commercial basis.

Written Answers — Exchequer Savings: Exchequer Savings (13 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 122 and 123 together. Based on the current membership of both Houses of the Oireachtas, the estimated saving in a full year from capping salaries of TDs at €75,000 would be €4.6 million, while the estimated saving in a full year from capping salaries of Senators at €60,000 would be €0.7 million. Section 2 of the Oireachtas (Allowances to Members) and...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Oct 2009)

Brian Lenihan Jnr: There are substantial provisions in the NAMA Bill to facilitate the disclosure of information and protect those involved. Section 199 allows for the appropriate disclosure of confidential information, by a person acting in good faith, to law enforcement authorities. Section 200 requires NAMA to inform the enforcement authorities where NAMA suspects that a participating institution may have...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Oct 2009)

Brian Lenihan Jnr: NAMA will be a State agency administered by its own board on an arms-length basis. The Bill provides that board members must have experience and expertise in such areas as finance, economics, banking, investment, property management and sale. Section 40 of the NAMA Bill provides that the NTMA will provide staff to NAMA and the Deputy will be aware that the NTMA structure was designed, among...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Oct 2009)

Brian Lenihan Jnr: The valuation methodology used to estimate the price paid for the loans takes into account both market conditions and subject to limits, long term economic returns which is consistent with EU guidance. The reflection of long term economic values in the valuation process is necessary to achieve the goal of stabilising the financial system to ensure it is in a position to support economic...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Oct 2009)

Brian Lenihan Jnr: There are no such ECB directives. NAMA is being set up to purchase loan assets from credit institutions and will not be engaged in the acquisition of bank equity.

Written Answers — Tax Exemptions: Tax Exemptions (13 Oct 2009)

Brian Lenihan Jnr: Charitable tax exempt status can be granted by the Revenue Commissioners to bodies that are wholly engaged in charitable activities. Schools, like other bodies, can apply for such status. A CHY number is issued to the body concerned, where charitable tax exempt status has been granted. A list of all bodies with such status is available on the Revenue website. The information requested by the...

Written Answers — Tax Code: Tax Code (13 Oct 2009)

Brian Lenihan Jnr: Section 531B(2)(b) of the Taxes Consolidation Act 1997 provides for a full exemption from the income levy for a year of assessment where a person has full eligibility to medical card services for any part of that year. Where the holder of a full medical card chooses to inform their employer or pension provider of the fact that they hold such a medical card, the Revenue Commissioners have...

Written Answers — Tax Collection: Tax Collection (13 Oct 2009)

Brian Lenihan Jnr: I have been advised by the Revenue Commissioners that a cheque in respect of tax overpaid will issue to the person concerned shortly.

Written Answers — Departmental Expenditure: Departmental Expenditure (8 Oct 2009)

Brian Lenihan Jnr: I propose to take Questions Nos. 82 and 83 together. I am informed that the cost of producing the combined polling card plus the statement for the information of voters for the Lisbon Referendum held on 2 October 2009 amounted to €290,081.56. While my Department has not yet been invoiced by An Post for the delivery of this document to every voter, it is estimated that postal charges will...

Written Answers — Social Welfare Benefits: Social Welfare Benefits (8 Oct 2009)

Brian Lenihan Jnr: It is a particular priority of the Government to ensure as much as possible that difficulties in relation to mortgage arrears do not result in legal proceedings for home repossession. Home repossession should be and generally is the last resort for the lender and the preferred method of dealing with arrears cases should be early intervention. There are a number of important initiatives in...

Written Answers — Tax Code: Tax Code (8 Oct 2009)

Brian Lenihan Jnr: The Revenue Commissioners are empowered under section 1002 of the Taxes Consolidation Act 1997 to attach monies due from third parties (including financial institutions) to a taxpayer in discharge of that taxpayer's unpaid tax debt to Revenue. That section sets out clear and specific obligations on a third party served with a Notice of Attachment. It also provides a comprehensive framework...

Written Answers — Departmental Agencies: Departmental Agencies (8 Oct 2009)

Brian Lenihan Jnr: The severance package agreed on behalf of the former Director General of FAS was submitted to my Department by the Department of Enterprise, Trade and Employment. My Department issued its consent, on the basis that it was an exceptional case and that the Department of Enterprise, Trade and Employment was satisfied that the terms of the package were appropriate in the circumstances. I was...

Written Answers — Departmental Agencies: Departmental Agencies (8 Oct 2009)

Brian Lenihan Jnr: The position in relation to the retention of a company car by a chief executive on retirement is dependent on the terms and conditions specified in the individual's contract of employment and any other relevant provisions in the body's establishment legislation. In 2006, the Department of Finance wrote to all Government Departments circulating a template employment contract for chief...

Written Answers — Departmental Staff: Departmental Staff (8 Oct 2009)

Brian Lenihan Jnr: The authorised staffing number (whole-time equivalent) in my Department on 1 October 2009 was 647.50. The total number of staff serving (whole-time equivalent) on the 27 March 2009 (the date of issue of the Department of Finance letter advising Departments and Offices of the moratorium) was 608.61. Serving numbers at 1 October were 581.53. Prioritisation of resource allocation in my...

Written Answers — Ministerial Travel: Ministerial Travel (8 Oct 2009)

Brian Lenihan Jnr: In the time available to answer the question, it has not been possible to compile the information sought by the Deputy. However, the information will be compiled shortly and forwarded to the Deputy as soon as possible.

Written Answers — Departmental Agencies: Departmental Agencies (8 Oct 2009)

Brian Lenihan Jnr: I presume the Deputy is referring to guidelines in relation to foreign travel. My Department issued updated guidelines on foreign travel on 1 July 2009. These supersede instructions issued previously. These guidelines were issued to all Government Departments. In addition to staff of Departments, the guidelines apply to all bodies and agencies under the aegis of Departments. The updated...