Results 8,961-8,980 of 26,733 for speaker:John McGuinness
- Written Answers — Department of Housing, Planning, and Local Government: Protected Disclosures (16 Jan 2018)
John McGuinness: 1767. To ask the Minister for Housing, Planning, and Local Government if he will make available an unredacted copy of the report submitted by Galway City Council relative to the case of a person (details supplied); if the protected disclosure submitted by the person is being examined by an independent person outside of and unconnected to his Department; and if he will make a statement on the...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: The item on the agenda for today's meeting is the Paradise Papers. We are joined Mr. Bernard Byrne and his colleagues from Allied Irish Banks, AIB. They are very welcome. Before we begin, I wish to advise witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to the committee. If they are directed...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Thank you, Mr. Byrne. I call Deputy Burton.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Is that a "Yes"?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: I do not want to cut the Senator short, but we will have a special meeting with AIB on 23 January on the tracker mortgage examination. We agreed earlier that we would send the bank the full range of questions to be answered. Mr. Byrne can give a general overview.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Is it on the same topic?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Arising from this exchange on the independence of the subsidiaries of AIB outside the jurisdiction, how many banking licences does AIB hold in this jurisdiction? Will the delegates explain in layman terms the make-up of these entities?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: In Ireland AIB comprises roughly 100 companies, not all of which have a banking licence. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Some of those licences are held because of the structure of mortgages. Is that correct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: The other companies deal with non-banking activities which have grown during the years. Is AIB going to rationalise all of them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: What is the new holding company?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: It does not sound like that.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Profits will go to this holding company.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: That holding company was requested by the regulator.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: The European regulator has demanded that structure.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: I would like to discuss the banking licences. They are separate entities. As Mr. Byrne described them, they are separate regimes with legal personalities.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Once one has a bank licence, and there are four in this situation, that is a legal entity all of its own.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: It has a licence all of its own, and it has a reporting mechanism all of its own.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: Why are licences established in this way? For example, there is AIB plc, and then there is AIB, plc. Why would they not have really distinctive names or descriptions so that no one is confused? If we are to understand that that is a different company, one notes there is only a comma in the difference. Why is it structured like that? Why not create a clearly named entity that has no...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Paradise Papers (Resumed): Allied Irish Banks (14 Dec 2017)
John McGuinness: I do not think we have been clear enough on this in the past. With our new holding company, that is, AIB Group plc, we have tried to signify that it is at the top of the group. The banking company that was at the top of the group until last week is Allied Irish Banks, plc.