Results 8,421-8,440 of 16,537 for speaker:Brian Lenihan Jnr
- Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)
Brian Lenihan Jnr: I hope we will have a further opportunity to deal with this.
- Anglo Irish Bank Corporation Bill 2009: Order for Second Stage (20 Jan 2009)
Brian Lenihan Jnr: I move: "That Second Stage be taken now."
- Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)
Brian Lenihan Jnr: I move: "That the Bill be now read a Second Time." I thank Deputies for their time, given the short notice available, but clearly this is an issue of serious national importance requiring swift action by the Government. I bring this Bill to the House today with a view to securing the financial position of Anglo Irish Bank and by extension the stability of the Irish financial system. The...
- Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)
Brian Lenihan Jnr: Accordingly, the Government believes recapitalisation is not now the appropriate and effective method to secure its continued viability. Therefore, the Government must move to the final and decisive step of public ownership. Later, I will highlight in more detail the salient provisions of the Bill. The House will be aware of the international context in which this action has been taken. I...
- Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)
Brian Lenihan Jnr: It was dealt with in the correspondence from the Taoiseach.
- Anglo Irish Bank Corporation Bill 2009: Second Stage (20 Jan 2009)
Brian Lenihan Jnr: A going concern.
- Seanad: Finance (No. 2) Bill 2008 (Certified Money Bill): Second Stage (19 Dec 2008)
Brian Lenihan Jnr: I am glad that Seanad Ãireann has set aside this day to debate the Finance Bill and I look forward to hearing the views of Senators. The Bill before us has been framed in the context of the most difficult economic and fiscal climate in a generation. The speed and depth of the economic downturn has surprised even the most pessimistic of the commentators. It is important to remember that...
- Seanad: Finance (No. 2) Bill 2008 (Certified Money Bill): Second Stage (19 Dec 2008)
Brian Lenihan Jnr: The tribunals are there as well.
- Seanad: Finance (No. 2) Bill 2008 (Certified Money Bill): Second Stage (19 Dec 2008)
Brian Lenihan Jnr: There is no danger of that, Senator.
- Seanad: Finance (No. 2) Bill 2008 (Certified Money Bill): Second Stage (19 Dec 2008)
Brian Lenihan Jnr: They have been of considerable assistance.
- Written Answers — Pension Provisions: Pension Provisions (18 Dec 2008)
Brian Lenihan Jnr: The details supplied with the Deputy's question raise a number of separate issues. Firstly, as regards the annual earnings limit for tax-relieved pension contributions, I should explain that, in Budget 2009, I announced a significant reduction in that annual limit from just over â¬275,000 to â¬150,000. This reduced limit will apply for 2009 to all individuals contributing to supplementary...
- Written Answers — Financial Services Regulation: Financial Services Regulation (18 Dec 2008)
Brian Lenihan Jnr: The legislative regime for financial regulation In Ireland is largely based on a comprehensive EU framework of Directives which applies across the EU. Arising from the recent financial turmoil, the Ecofin Council meetings in October and December 2007 agreed a set of common principles and a road map of further actions to enhance financial stability arrangements and the ability of authorities...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Dec 2008)
Brian Lenihan Jnr: In my statement at 14th December 2008, I announced the Government's decision to support, alongside existing shareholders and private investors, a recapitalisation programme for credit institutions in Ireland of up to â¬10 billion. This will be done through the National Pension Reserve Fund or otherwise and subject to terms and conditions. I also announced that in order to safeguard the...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Dec 2008)
Brian Lenihan Jnr: Under the terms of the Scheme support may be provided to a specific institution, if it is necessary and in the public interest for maintaining the financial stability of the financial system in the State. I am of the opinion, having consulted with the Governor of the Central bank and the Financial Regulator that the specified institution qualifies for cover under the Scheme on this basis.
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Dec 2008)
Brian Lenihan Jnr: The Government's approach to the recapitalisation of credit institutions is designed to ensure the long-term sustainability of the banking sector in Ireland and to underpin its contribution through the availability of credit to individuals and businesses in the real economy. The Government has decided to support, alongside existing shareholders and private investors, a recapitalisation...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Dec 2008)
Brian Lenihan Jnr: The Scheme prepared under the Credit Institutions (Financial Support) Act 2008 requires each covered institution to prepare a plan to structure the remuneration packages of directors and executives, including total salary, bonuses, pension payments and any other benefits, so as to take account of the objectives of the Act. I have recently established the independent, three member, committee...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Dec 2008)
Brian Lenihan Jnr: As is stated in paragraph 32 of the Credit Institutions (Financial Support) Scheme, the non-executive directors appointed in the public interest by the covered institutions are to be remunerated by those covered institutions. The amount of this remuneration is a matter for the institutions themselves. However, the Deputy should note that paragraph 47 of the Scheme clearly states that "each...
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Dec 2008)
Brian Lenihan Jnr: My Department recently held generic briefing sessions on the Scheme in general and the fiduciary duties of non-executive directors for individuals on the panel from which the covered institutions are to appoint directors in the public interest.
- Written Answers — Financial Institutions Support Scheme: Financial Institutions Support Scheme (18 Dec 2008)
Brian Lenihan Jnr: Any director appointed in the public interest by the covered institutions will be subject to the provisions of company law. As such, he or she will be bound to act in the interests of the separate legal entity that is the company. Therefore, directors appointed in the public interest will not have a reporting relationship to me or to my Department. However, the panel comprises people who,...
- Written Answers — Pension Provisions: Pension Provisions (18 Dec 2008)
Brian Lenihan Jnr: I announced in my Budget speech that I was conducting a review of the National Pensions Reserve Fund in the context of recent economic and fiscal developments. I asked Mr Maurice O'Connell, former Governor of the Central Bank, to conduct the review. Mr O'Connell has now submitted his review to me and I am considering his conclusions. As I stated in my Budget speech, any changes requiring...