Results 12,141-12,160 of 26,032 for speaker:Kieran O'Donnell
- Seanad: Commencement Matters: Road Projects Status (27 Nov 2018)
Kieran O'Donnell: We always need a target.
- Seanad: Finance Bill 2018: Second Stage (27 Nov 2018)
Kieran O'Donnell: I welcome the Minister, Deputy Donohoe, as a former Member of this House and commend him and his officials for the fantastic work they do on behalf of the people and the Government. I wish him continued success. I will deal with the budget in a structured and overarching way. I always assess budgets under a number of headings, including fairness. Ultimately, a Minister is responsible for...
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: The Irish League of Credit Unions appeared before the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach, to discuss credit unions being able to make members' funds available through a special purpose vehicle for the provision of housing. Does HBFI fall within that ambit? I note the State is putting in €20 million of funding in the form of share capital. It is...
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: The Irish League of Credit Unions has stated that it has members' funds at its disposal that are currently on deposit in mainstream banks in most cases. It would like to be able to use those funds in a relatively risk-free investment. It has €7 billion at its disposal overall. Could it provide some of that funding for a special purpose vehicle run by the State to provide housing?...
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: I am aware of that.
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: No. Some €20 million is provided by the State and HBFI will leverage funding from various other sources. I am asking if it could access funds in this way.
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: The credit union movement could come together to provide several million euro in long-term debenture loans to HBFI.
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: Bills of this nature can be very technical. The Bill before us is very important. How does HBFI differ in structure from the Housing Finance Agency? Why is HBFI being established when we have the Housing Finance Agency, which can also provide funding?
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: There is no lower limit on funding.
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: If someone is building 20 units and gets 40% of the funding from his local bank, can he look for the balance of the funding from HBFI?
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: Am I correct in stating that this body will be audited by the Comptroller and Auditor General on an annual basis? Will the statutory auditors referred to in section 16 be an outside firm?
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: There will be an audit but HBFI will, in addition, be audited by an outside independent auditor.
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: Sections 16 and 17 are interrelated.
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: In reference to section 16, will a statutory independent auditor be appointed as well as the Comptroller and Auditor General?
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: Under section 17, HBFI will be audited by the Comptroller and Auditor General but section 16 states:Where, following prior consultation with the Minister, the board of HBFI considers it appropriate to do so having regard to its functions (including the obligations imposed on HBFI under section 7(2)), HBFI or any HBFI group entity may appoint a statutory auditor I am asking if it will appoint...
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: This is obviously a standard clause in the establishment of any new body. Who will carry out the review and how often does the Minister of State expect it to be done? To whom will the review be provided?
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: There is no formal sunset clause but there is a mechanism that can be triggered.
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: The Act will come into play in January. When does the Minister of State anticipate that the HBFI will make its first loans?
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: Have a chief executive officer, CEO, and staff been appointed?
- Seanad: Home Building Finance Ireland Bill 2018: Committee and Remaining Stages (22 Nov 2018)
Kieran O'Donnell: When does the Minister of State anticipate it will make its first loan? What is his intention?