Results 12,481-12,500 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Appointments to State Boards (26 Feb 2014)

Michael Noonan: I am mindful of the Government's target of achieving 40% female membership of State Boards. Approximately 25% of the current board members under the aegis of my Department are women and my officials are working to increase this proportion as vacancies arise.

Written Answers — Department of Finance: Financial Services Regulation (25 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 171 and 194 together. The Central Bank introduced the Consumer Protection Code in 2006 to mitigate against the risk of mis-selling financial products to consumers. This was further enhanced by the 2012 Consumer Protection Code. Occasionally, the Central Bank receives individual consumer complaints about mis-selling and these are looked at on case by case...

Written Answers — Department of Finance: Water and Sewerage Schemes Funding (25 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 172 and 200 together. Irish Water's costs in the coming years will be funded through a mix of revenue from the domestic and non-domestic sector, third party finance (such as the Ireland Strategic Investment Fund, EIB, bank lending and capital markets facilities) and State support which may be in the form of both equity and subvention. It is...

Written Answers — Department of Finance: Flood Risk Insurance Cover (25 Feb 2014)

Michael Noonan: The possibility of developing a scheme whereby the state would pay compensation to those who have been flooded has been examined. However, the difficulty of forecasting severe weather events means that it is difficult to quantify the cost of a state-funded financial aid package in any particular year. These costs would be in addition to the normal infrastructure costs which arise...

Written Answers — Department of Finance: Flood Risk Insurance Cover (25 Feb 2014)

Michael Noonan: As part of the response to recent flooding events the Department of Finance is currently undertaking a review of measures to address the availability of flood insurance cover. In broad terms, the review will look at the most cost effective means to address flood insurance problems and will look at the experience and proposals in other countries, including those brought to my attention by the...

Written Answers — Department of Finance: Tax Collection (25 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 175 and 176 together. I am informed by the Revenue Commissioners that the sector identifier used on tax records is based on the 4 digit NACE code , which is an internationally recognised economic activity code system. As the economic activities referred to by the Deputy in both questions are not clearly identifiable within the NACE code system the tax-based...

Written Answers — Department of Finance: Tax Credits (25 Feb 2014)

Michael Noonan: I am informed by the Revenue Commissioners that Section 472 of the Taxes Consolidation Act 1997 provides for a tax credit known as the "employee tax credit" or "PAYE tax credit" to an individual who has emoluments (other than "excluded" emoluments) to which the PAYE system of tax deduction at source applies or is applied. Where an individual's total income for the year consists wholly or...

Written Answers — Department of Finance: Tax Clearance Certificates (25 Feb 2014)

Michael Noonan: I have been advised by the Revenue Commissioners that they do not have sufficient information at present to issue PAYE Balancing Statements (P21s) for the years in question. A request for the necessary information issued to the person concerned on 21 February 2014. On receipt of this information P21s will be issued for 2012 and 2013.

Written Answers — Department of Finance: European Investment Bank (25 Feb 2014)

Michael Noonan: I have been informed by the European Investment Bank (EIB) that there is no review of the Bank s lending criteria currently taking place. However, the EIB did conduct a review of its energy lending policy in 2013. Details of this review are available at the following link: . In general terms, the EIB provides loans of up to 50% of the total cost of a project for projects of sufficient size...

Written Answers — Department of Finance: European Investment Bank (25 Feb 2014)

Michael Noonan: Article 19 of the Statute of the European Investment Bank (EIB) provides that Any undertaking or public or private entity may apply directly to the Bank for financing. Therefore, the Local Authorities ability to borrow directly from the EIB depends on the their borrowing powers, and the regulatory framework in place which allows them to do so. The Local Government Act 2001 provides for the...

Written Answers — Department of Finance: NAMA Portfolio (25 Feb 2014)

Michael Noonan: I am advised by NAMA that the carrying value of artwork on its balance sheet is of the order of €100,000. I am advised by NAMA that, in some cases, artwork is held as security for debts owed to the Agency and is still legally owned by debtors. Current valuations for this artwork are difficult to ascertain but are likely to be less than €2 million.

Written Answers — Department of Finance: Tax Reliefs Availability (25 Feb 2014)

Michael Noonan: I am informed by the Revenue Commissioners that a tax deduction is available to an individual, in his or her capacity as a social worker, in respect of the registration fee statutorily imposed by virtue of the provisions of the Health and Social Care Professionals Act 2005.

Written Answers — Department of Finance: Flood Risk Insurance Cover (25 Feb 2014)

Michael Noonan: The provision of new flood cover or the renewal of existing flood cover is a commercial matter for insurance companies, which is based on a proper assessment of the risks they are accepting and the making of adequate provisioning to meet these risks. Flood cover claims are generally significant and in order to provide such cover, insurance companies would say that they have to be satisfied...

Written Answers — Department of Finance: NAMA Expenditure (25 Feb 2014)

Michael Noonan: I am advised by NAMA that it does not appoint liquidators from its insolvency practitioner panels. I am advised that liquidators are, in fact, generally appointed by Directors, creditors or by the High Court on the petition of a company, its directors, shareholders or creditors and are remunerated in accordance with the provisions of the Companies Acts.

Written Answers — Department of Finance: IBRC Liquidation (25 Feb 2014)

Michael Noonan: I can confirm that there is no performance element built in to the fees agreed with KPMG in respect of the liquidation of Irish Bank Resolution Corporation. I can confirm that the original rates agreed with the Special Liquidators are commensurate with those agreed by NAMA following a tender process for insolvency services and are significantly discounted when...

Written Answers — Department of Finance: IBRC Liquidation (25 Feb 2014)

Michael Noonan: Unfortunately my Department has been unable to obtain the information requested by the Deputy in the time available. I will write to the Deputy directly with the information as soon as it becomes available.

Written Answers — Department of Finance: Banking Sector Issues (25 Feb 2014)

Michael Noonan: As the Deputy will be aware under the Relationship Framework the State does not intervene in the day to day operations of the banks or their management decisions regarding commercial matters.  AIB and PTSB have provided me with the following information in relation to hospitality and corporate entertainment: AIB is undertaking a significant cost reduction programme aimed at reducing...

Written Answers — Department of Finance: NAMA Portfolio (25 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 188 and 189 together. I am advised that NAMA s commercial decisions are guided entirely by Section 10 of the NAMA Act which places a statutory obligation on NAMA to obtain the best achievable return for the State from the management of its acquired loan portfolio. NAMA has an independent mandate and decisions in relation to the management and...

Written Answers — Department of Finance: NAMA Operations (25 Feb 2014)

Michael Noonan: I propose to take Questions Nos. 190 to 192, inclusive, together. It is important first of all to put NAMA in its proper context as far as the Northern Ireland property market and, by extension, the wider Northern Ireland economy is concerned.  NAMA is by no means the dominant influence in the Northern Ireland property market and indeed in some sectors its exposure is very low. ...

Written Answers — Department of Finance: NAMA Transactions (25 Feb 2014)

Michael Noonan: I am advised by NAMA that, since its inception, it has overseen the sale of assets in Northern Ireland by debtors and receivers with a value of €141m.  NAMA advises that its strategy in Northern Ireland, as in other jurisdictions, is to seek to ensure that the volume of assets offered for sale is well aligned with the market s absorption capacity and, in that context, that it does...