Results 11,621-11,640 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Credit Unions Regulation (7 May 2014)

Michael Noonan: I propose to take Questions Nos. 38 and 42 together.   Credit Unions have an important role to play in providing credit in local communities around the country.  While lending restrictions have been imposed on some credit unions, I have been informed by the Central Bank that these restrictions are imposed in the context of on-going matters of supervisory concern arising in...

Written Answers — Department of Finance: Central Bank of Ireland Staff (7 May 2014)

Michael Noonan: I have been informed by the Central Bank that the individual referred to by the Question is employed by the Central Bank at Director level and was seconded to the European Banking Authority (EBA) as a seconded national expert on 18 April 2011. This secondment is due to end in December 2014.  The Central Bank has not made a decision regarding the individual's role with the...

Written Answers — Department of Finance: Insurance Industry (7 May 2014)

Michael Noonan: Under EU law which governs non-life insurance, an insurer is required to inform the regulator in its home Member State (its home regulator) that it intends to pursue business in another Member State. The home regulator must then provide the host regulator with a certificate attesting that the insurer covers the EU Solvency Capital Requirement, as well as the nature of the business which...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (7 May 2014)

Michael Noonan: I have been advised by the Special Liquidators that the independent valuation was set with reference to the higher of the run-off valuation and market valuation.

Written Answers — Department of Finance: Property Taxation Collection (7 May 2014)

Michael Noonan: I propose to take Questions Nos. 43 to 45, inclusive, together. As I have previously informed the House on a number of occasions, most recently in my reply to Questions Nos. 168 and 169 on 6 May, Revenue received the Household Charge register from the Local Government Management Agency (LGMA) and this data was used to develop the Local Property Tax (LPT) Register. Revenue confirmed that as a...

Written Answers — Department of Finance: Liquor Licence Applications (6 May 2014)

Michael Noonan: As the Deputy is aware, licenced premises have a graduated licence duty fee structure based on turnover, with a total of six bands ranging from €250 to €3,805. Overall, the licence fee is a very small percentage of the annual turnover of the business and, as the amount of the fee is linked to the turnover, it reduces in line with reduced business during a downturn.  It...

Written Answers — Department of Finance: Tax Code (6 May 2014)

Michael Noonan: The Deputy will appreciate that it is a long standing practice for the Minister for Finance not to comment on measures that may or may not be under consideration in the run up to the Budget.

Written Answers — Department of Finance: IBRC Mortgage Loan Book (6 May 2014)

Michael Noonan: As the Deputy is aware, NAMA will not now be obliged to purchase unsold IBRC assets at their independent valuation as previously envisaged. The Special Liquidators will now devise and manage a further sales process in respect of the unsold residential mortgages in a manner that maximises the return to all remaining creditors of IBRC, including the State. This process is being finalised...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (6 May 2014)

Michael Noonan: I am informed that the Financial Services Ombudsman's Bureau considers that the former employment of a member of the Bureau by a regulated financial services provider which may be the subject of a complaint before the Bureau, does not of itself preclude that member of the Bureau from engaging in a mediation, investigation or adjudication involving that financial services provider in the...

Written Answers — Department of Finance: Mortgage Interest Rates (6 May 2014)

Michael Noonan: Firstly, I must confirm to the Deputy that it is not appropriate for me, as Minister for Finance, to comment on or become involved in the detailed mortgage position of individual mortgage holders.  On the issue more generally, under the Central Bank's Consumer Protection Code, a regulated financial institution  must act honestly, fairly and professionally in the best...

Written Answers — Department of Finance: VAT Rate Application (6 May 2014)

Michael Noonan: I am informed by the Revenue Commissioners that the amount of VAT collected from the supply of school ebooks is not separately identifiable from the supply of other goods or services as businesses are obliged to calculate and return VAT by reference to their entire taxable supplies. As such, the Commissioners are unable to estimate the cost of such a scheme.

Written Answers — Department of Finance: Tax Code (6 May 2014)

Michael Noonan: As the Deputy will be aware, Mortgage Interest Relief was abolished for new home purchasers in 2013. However, in recogntion of the peak in house prices, the relief is still available for first time buyers who took out their first mortgage between 2004 and 2008. This relief will continue up to and including the 2017 tax year. In addition, rent relief was abolished in Budget 2011 for new...

Written Answers — Department of Finance: Property Taxation Collection (6 May 2014)

Michael Noonan: I am advised by the Revenue Commissioners that a key aspect of the work undertaken in regard to Local Property Tax (LPT) was the development of a comprehensive Register of residential properties in the State. The Register was populated using data drawn from a range of sources including Revenue's own databases, the Local Government Management Agency database and data from various utility...

Written Answers — Department of Finance: IBRC Loans (6 May 2014)

Michael Noonan: I am advised by the Special Liquidators that they are not in a position to comment on individual cases. The information requested is confidential and it would not be appropriate for the Special Liquidators to release such information.

Written Answers — Department of Finance: State Properties (6 May 2014)

Michael Noonan: I wish to advise the Deputy that the use of public land in this way falls outside the remit of my Department.  However, I am happy to provide some guidance with regard to NAMA. As the Deputy may be aware, NAMA does not own properties.  NAMA has acquired loans and its role in relation to properties underlying those loans is, like a bank, that of a secured lender.  Other...

Written Answers — Department of Finance: IBRC Loans (6 May 2014)

Michael Noonan: I am advised by the Special Liquidators that they are not in a position to comment on individual cases. I am further advised that the information requested is confidential and it would not be appropriate for the Special Liquidators to release such information. However, the Special Liquidators are taking appropriate action having given full condiseration to their duties as Special...

Written Answers — Department of Finance: IBRC Liquidation (6 May 2014)

Michael Noonan: Under the terms of the Relationship Framework in place between IBRC and the Department the bank was obliged to consult with me and keep me informed in relation to all material litigation in the bank. Details in relation to these frameworks can be found on the Department website at . I can confirm that I was consulted on a number of legal cases...

Written Answers — Department of Finance: NAMA Operations (6 May 2014)

Michael Noonan: I am advised that NAMA is aware of trusts set up by debtors through its valuation and business review processes and through its asset searches, which are designed to verify debtors' asset statements. As part of the NAMA business plan process, sworn statements of affairs were required from debtors. These statements were intended to provide a comprehensive account of a debtor's financial...

Written Answers — Department of Finance: Insurance Industry (6 May 2014)

Michael Noonan: I propose to take Questions Nos. 155 and 159 together. Under EU law which governs non-life insurance, an insurer is required to inform the regulator in its home Member State (its home regulator) that it intends to pursue business in another Member State. The home regulator must then provide the host regulator with a certificate attesting that the insurer covers the EU Solvency Capital...

Written Answers — Department of Finance: Central Bank of Ireland (6 May 2014)

Michael Noonan: I propose to take Questions Nos. 156 and 157 together. I am informed by the Central Bank that the possible breach of the Market Abuse Directive Regulations, 2005 has been referred to a panel of Assessors under Regulation 35 of the Market Abuse Regulations, to conduct an assessment as to whether or not a breach has occurred and, if so, what sanction, if any, the assessors consider...