Results 781-800 of 6,295 for speaker:Michael D'Arcy

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I move amendment No. 3:In page 5, after line 5, to insert the following: “PART 4 MISCELLANEOUS AMENDMENTSAmendment of International Finance Corporation Act 1958 7. The International Finance Corporation Act 1958 is amended—(a) in section 1, in the definition of ‘the Agreement’, by inserting “, and any amendments to the agreement that are approved by...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I move amendment No. 4:In page 5, after line 5, to insert the following:“Amendment of section 851A of Taxes Consolidation Act 1997 8. Section 851A of the Taxes Consolidation Act 1997 (No. 39 of 1997) is amended by inserting after subsection (9) the following subsection: “(9A) Nothing in this section shall prevent the due disclosure in the course of duties of taxpayer...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I will read the briefing note as this is an important provision. This section amends 851A of the Taxes Consolidation Act 1997. Section 851A provides the basis for confidentiality of taxpayer information. It also provides the basis for the circumstances in which such information can be disclosed by the Revenue Commissioners, including the limited circumstances in which such information can...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: The Department of Finance officials may have information relating to the tax status of a company. If there was a state aid case coming, the Revenue Commissioners would give information to the Department of Finance so that it could defend a position or formulate policy. It is the use of that information that is now allowed to go to the Information Commissioner.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes. It is confidential but it is allowed to be passed for the formulation of policy or, potentially, the defence of a state aid case. There is a conflict. There are two legislative measures, both of which disallow such a move.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes. A criminal sanction could apply in both cases.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: At present, the Revenue Commissioners can give the relevant information to the Information Commissioner but Department of Finance officials cannot. This rectifies the position.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Only for the purposes of policy can they receive information from Revenue for the formulation of policy or to defend a state aid case against the State.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes, the information is general and broad, but in some circumstances the information could identify the company, potentially, without anyone being told.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes, because it would be a criminal offence if that was done.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I know. This rectifies the anomaly and the conflicting legislation.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: Under state aid rules, European authorities can request information.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: They can request it from Revenue and the Department of Finance.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I do not know. There are general powers.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: African Development (Bank and Fund) Bill 2018: Committee Stage (4 Dec 2018)

Michael D'Arcy: I move amendment No. 5:In page 3, line 8, after “agreements;” to insert “to amend the International Finance Corporation Act 1958 and the Taxes Consolidation Act 1997;”.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (National Claims Information Database) Bill 2018: Committee Stage (29 Nov 2018)

Michael D'Arcy: I shall read my note and then deal with the Deputy’s comments. Amendment No. 1 is opposed on the basis that it travels with a substantive amendment to section 4, which is also opposed. It is intended that risks in the State would be defined by regulation, rather than in the primary legislation, to minimise the need to amend the legislation in future. Amendments Nos. 5 and 6 are...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (National Claims Information Database) Bill 2018: Committee Stage (29 Nov 2018)

Michael D'Arcy: We are satisfied that it is not required. The Bill is doing exactly what we require it to do, which is to provide for the collection and collation of the information for all the areas of insurance that might be relevant. We are starting with motor insurance and over a period we will flow between other areas where calculation is required. We are satisfied that what the Deputy proposes is...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (National Claims Information Database) Bill 2018: Committee Stage (29 Nov 2018)

Michael D'Arcy: Yes.

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (National Claims Information Database) Bill 2018: Committee Stage (29 Nov 2018)

Michael D'Arcy: Yes. It is open in order not to be prescriptive. Regulation can subsequently be used, if required, but the Act will be sufficient and we do not need any more or less.