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Seanad: An Bille um an Dara Leasú is Tríocha ar an mBunreacht (Deireadh a Chur le Seanad Éireann) 2013: An Dara Céim (Atógáil) - Thirty-second Amendment of the Constitution (Abolition of Seanad Éireann) Bill 2013: Second Stage (Resumed) (3 Jul 2013)

Brian Hayes: Based on that number of taxpayers. However, there are an awful lot more taxpayers.

Seanad: An Bille um an Dara Leasú is Tríocha ar an mBunreacht (Deireadh a Chur le Seanad Éireann) 2013: An Dara Céim (Atógáil) - Thirty-second Amendment of the Constitution (Abolition of Seanad Éireann) Bill 2013: Second Stage (Resumed) (3 Jul 2013)

Brian Hayes: That is the OPW's job.

Written Answers — Department of Public Expenditure and Reform: National Monuments (3 Jul 2013)

Brian Hayes: Ray Church and Cross, at Falcarragh, Co. Donegal, is a National Monument in State ownership (DG025-029001 and 029003) and comes within the statutory remit of the Office Public Works (OPW) as defined in the various National Monument Acts. These structures are therefore afforded the full protection of the State as defined in the legislation. The other structures identified by the Deputy in...

Seanad: Adjournment Matters: Human Rights Issues (2 Jul 2013)

Brian Hayes: I thank the Senator for raising the matter. Unfortunately, the Tánaiste is not in a position to attend the House and has asked me to take the matter. The foreign Minister in Hungary, János Martonyi , wrote to all EU foreign Ministers last March to inform them of changes to the Hungarian constitution which were subsequently approved by the Hungarian Parliament. The changes have...

Seanad: Adjournment Matters: Money Laundering (2 Jul 2013)

Brian Hayes: I thank Senator Conway for raising this important issue and for his diligence in following up on the representations that have been made to him. Prize bonds are part of a range of State savings products which include savings bonds, savings certificates, instalment savings, national solidarity bonds and deposit accounts such as the ordinary demand deposit account and the 30 day notice deposit...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: I thank all Senators for their contributions. It would be unfair to suggest the contributions, from all sides, have not been useful. In the discussion we have had on the sections they have been useful, specifically on these two amendments. Senator John Gilroy spoke about this. Equally, it is fair to say the Bill has been in gestation for some time and has been amended and changed...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: However, on my own behalf and that of the Minister for Finance, I assure them the observations made in this House are always useful, constructive, positive and greatly help us to improve legislation that has already gone through the tumble dryer in the past 18 months or so. As a result, the legislation has been substantially improved in comparison to the Bill first proposed by the...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: We will see.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: Before we lose the run of ourselves, we are talking here about the ombudsman's report in respect of complaints. What this section deals with is a situation in which there is an outcome in favour of an individual who brings a complaint and that complaint is satisfactorily resolved. Where an action is clear and where the ombudsman has been given that view, it will be acted upon, ipso facto....

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: I think the Senator misunderstands this, but we need to be clear on it. We are talking here about individual complaints in regard to a financial service provider. This is not a systemic issue nor a problem regarding a range or category of products that have been fraudulently imposed on people. We are talking about individual complaints made to the ombudsman regarding cases in which a...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: On Committee Stage the Minister indicated that he would introduce this amendment to the Central Bank Act 1971 to provide an authorisation regime for branches of third country banks. These branches would be subject to the same standard of regulation as those branches currently passporting into Ireland from within the European Union. The Central Bank Act 1971 provides the statutory basis for...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: Amendment No. 4, the subject of our discussion, seeks to require the Financial Services Ombudsman to include in his or her report the responses of financial services providers to complaints made against them and reported by the ombudsman. I am satisfied that the naming provisions in the Bill are sufficiently robust to provide consumers with information to assist them in making decisions...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: It is not fair to say we are in disagreement on this. I hope people outside the House will listen to what I have to say. We would expect in the normal course of events that the Central Bank would engage in discussion with the various agencies to which the Senator referred in his amendment, namely, the Competition Authority and the National Competitiveness Council. In the normal course of...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: I thank both Senators for raising this issue. The prosperity of the economy is inextricably connected to the prosperity of our banks because we own most of them and the greater part of one of them. The only way we will get our money back in some shape or form is to bring them back to some trajectory of profitability over the years. Given the enormous amount of taxpayers' money put into...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: In response to amendment No. 1, proposed and seconded by Senators Barrett and Quinn, respectively, I accept the bona fides of both Senators. The Minister for Finance and I accept fully what has been said by Senator Barrett, whose only objective is to improve the Bill. He seeks not to stand in the way of its passage but to add to it. The Bill, which I took on Report Stage in the Dáil,...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: That is the sequel.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: That is the sequel.

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: In response to amendment No. 1, proposed and seconded by Senators Barrett and Quinn, respectively, I accept the bona fides of both Senators. The Minister for Finance and I accept fully what has been said by Senator Barrett, whose only objective is to improve the Bill. He seeks not to stand in the way of its passage but to add to it. The Bill, which I took on Report Stage in the Dáil,...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: I thank both Senators for raising this issue. The prosperity of the economy is inextricably connected to the prosperity of our banks because we own most of them and the greater part of one of them. The only way we will get our money back in some shape or form is to bring them back to some trajectory of profitability over the years. Given the enormous amount of taxpayers' money put into...

Seanad: Central Bank (Supervision and Enforcement) Bill 2011: Report and Final Stages (2 Jul 2013)

Brian Hayes: It is not fair to say we are in disagreement on this. I hope people outside the House will listen to what I have to say. We would expect in the normal course of events that the Central Bank would engage in discussion with the various agencies to which the Senator referred in his amendment, namely, the Competition Authority and the National Competitiveness Council. In the normal course of...

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