Results 8,021-8,040 of 12,593 for speaker:Willie O'Dea

Seanad: Defence (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (18 Nov 2009)

Willie O'Dea: I am operating on the basis of the advice I have. There is a legislative problem as well. The 1960 Act only requires the Dáil to approve the deployment of troops overseas. If the Dáil alone can authorise the deployment of troops overseas, how could there be a situation in which there was a requirement involving both Houses of the Oireachtas for engagement in some very minor EDA project...

Seanad: Defence (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (18 Nov 2009)

Willie O'Dea: I cannot accept a legal obligation to consult. It is the practice now to bring these matters to the Seanad and, indeed, the Seanad can initiate such matters. I assure the House that as long as I remain in this job that situation will continue to pertain.

Seanad: Defence (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (18 Nov 2009)

Willie O'Dea: If the Government is re-elected at the next election it will continue to be our policy and the matter will not arise if the Senator's party is elected into Government because the Seanad will not be here.

Seanad: Defence (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (18 Nov 2009)

Willie O'Dea: Yes. We will look at it.

Seanad: Defence (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (18 Nov 2009)

Willie O'Dea: Generally, we are not as advanced as the major European countries in matters of defence, but we have much to teach others on interacting with local populations when abroad in keeping the peace. I do not know whether this can be formalised.

Seanad: Defence (Miscellaneous Provisions) Bill 2009: Committee and Remaining Stages (18 Nov 2009)

Willie O'Dea: I again express my appreciation to the Seanad for its constructive approach to the Bill. I also reiterate my commitment that, whether we engage in deploying troops overseas or permanent structural co-operation, I will be very happy to discuss defence matters with the Seanad at any time.

Seanad: Defence (Miscellaneous Provisions) Bill 2009: Second Stage (18 Nov 2009)

Willie O'Dea: I am pleased to bring this Bill before the Seanad and thank Members for agreeing to take it at short notice. This is a short Bill which gives effect to the provisions of the national declaration on the Lisbon treaty relating to Ireland's participation in certain activities of the European Defence Agency, EDA. It also puts in place approval procedures for Ireland's participation in permanent...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: I am not familiar with the case to which Senator Coghlan refers but I certainly will be happy to talk to him about it later. It is not in the interests of anybody that, unintentionally, a good company employing several hundred persons is forced into liquidation, and I would not like to see such a situation. All I would say to Senator Coghlan on the performing loans is that NAMA deals with...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: Maybe this issue can be sorted out. I will talk to Senator Coghlan about it. On the use of the word "may" or "shall", I reiterate the commitment the Minister gave in the lower House that he will introduce guidelines. He may well introduce a number of sets of guidelines. For example, he intends to introduce guidelines from time to time to respond to sectoral credit problems as they arise....

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: I stated that people appeared to suggest it. If that is not what they meant, it is fine, but that is the way it came across to me.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: I appreciate that. However, I am just saying if anyone is under that impression, it is an illusion. On the Department or the Minister for Finance intervening in the banks to ensure that credit flows, if the thing is not working as we intend it to work, if that fundamental first purpose set out in the purposes section of the legislation is not being achieved, of course we will have to...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: It is because it is a State body. The income accruing to NAMA accrues to the State, so what we would be doing by taxing the income from NAMA is to have the State apply income tax on its own income to hand back to itself.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: The SPV is not exempt.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: NAMA is exempt but the SPV is not exempt.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: My understanding is that the income-----

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: No.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: NAMA is a State body not subject to tax. The SPV will be subject to tax because it will be in possession of a great deal of property and it is the SPV which is the property owner and the entity holding the title to the properties. If there was one major, dominant player in the property market which was not subject to tax, this would seriously distort the market. My understanding is that...

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: There is nothing to stop Senator Leyden or any other Senator or Deputy raising in the Seanad or Dáil general or, even specific, issues in regard to NAMA. There is nothing to stop them putting down parliamentary questions in this regard to the Minister for Finance who will, of course, answer to Parliament for NAMA.

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: It strikes me it would be absolutely devastating to the national interest if we allowed secret lobbying of NAMA or its officials-----

Seanad: National Asset Management Agency Bill 2009: Committee Stage (Resumed) (11 Nov 2009)

Willie O'Dea: -----with the intention of influencing the making of a decision in relation to the performance of the functions of NAMA. The function of NAMA will be to get credit flowing in the country again. NAMA has an obligation. The Irish people are making a huge investment in NAMA, whose obligation it is to recoup that money on their behalf. It cannot be subject to secret lobbying.