Results 1,501-1,520 of 34,585 for speaker:Seán Fleming

Seanad: Finance Bill 2020: Committee Stage (11 Dec 2020)

Seán Fleming: In an effort to be helpful, the Minister and the Department consistently keep the section 110 regime under review and make changes when issues are identified. If Revenue becomes aware of a particular issue, it brings it to the attention of the Department of Finance and changes are made. For example, the Finance Act 2011 made a change in respect of profit participation notes. The 2016 Act...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: We are going on to Report Stage. I may be able to respond to the point then.

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: I thank the Deputy for proposing this amendment. It is good to tease out the issue. The decision to allow proxy voting is at the discretion of individual credit unions. If a credit union provides for proxy voting, the legislation sets the deadline for depositing an instrument of proxy. This deadline balances the needs of the member, who is an individual, and of the credit union, which has...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: We are all supportive of the credit unions and believe they will run their organisations as best they can. That is why we did not want to be overly-prescriptive by limiting proxy voting such that a proxy voter can only act on behalf of one person. I gave the example earlier of an elderly couple who want their son or daughter to represent them both at the AGM. The Deputy is suggesting that...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: I thank the Deputies. The section indicates a credit union "may" and I keep referring to that word. We are here to facilitate and help credit unions run their businesses and the conduct of voting at an AGM should be regulated by the credit union's own rules, which vary between such credit unions, rather than through legislation. The big change we are making in this legislation is to allow...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: I thank the Deputy. Everybody is concerned about the integrity of AGMs, including proxies, timing and the secrecy of the ballot. The Deputy will be satisfied to hear that the amendment relating to ballot secrecy is not necessary as the legislation details exactly when secret ballots are required and that the board of directors of a credit union shall be elected, in any case, by secret...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: In December 2017, CUAC did publish a policy paper on alternative means of voting by members. I accept that there is not a widespread view among members of credit unions that they should have proxy voting. Some people have said that it might facilitate a greater attendance at AGMs. We all know credit unions have thousands of members and there might be 70 people or 80 people at an AGM....

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: I am happy to clarify that. There are two positions here. There is the interim period, which is only for this round of AGMs up to the end of April. It can be extended if the Minister considers it necessary to do so, but it is on the basis that we will get there by the end of April next year. The only power being given to the board of directors is to proceed with an AGM. The issue of...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Committee and Remaining Stages (10 Dec 2020)

Seán Fleming: I thank the Deputy. To deal with his last point first, there were consultations with the Central Bank. The existing legislation would allow the Central Bank, using its discretion, to defer AGMs until the end of April in any event. However, we believed it necessary for the Oireachtas to decide to put that on a legislative basis. There is provision in the Bill for further extension of the...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Second Stage (10 Dec 2020)

Seán Fleming: I thank all the Deputies for their contributions to the Second Stage debate. I acknowledge the work of the credit union movement, which is a volunteer movement. I also thank the directors, the boards of directors and the staff who work in all our credit unions. The point has been well made that they are community-based. Depending on the amount of time I have, I wish to address some of the...

Finance (Miscellaneous Provisions) Bill 2020 [Seanad]: Second Stage (10 Dec 2020)

Seán Fleming: I move: "That the Bill be now read a Second Time." The Finance (Miscellaneous Provisions) Bill 2020 has three core objectives. First, it amends the Credit Union Act to allow for general meetings, which are prohibited under current health regulations, to proceed; second, it amends the Fiscal Responsibility Act 2012 to increase the number of consecutive terms of office members of the Irish...

Seanad: Finance Bill 2020: Second Stage (8 Dec 2020)

Seán Fleming: Today, we discuss the Finance Bill 2020, which will give legislative effect to the budget for next year. The Bill has been the subject of detailed discussion in the Dáil and I expect that it will also be subject to detailed discussion and consideration here in this House. I look forward to the contributions of Senators. Ireland currently faces many challenges. Brexit could rightly be...

Seanad: Finance Bill 2020: Second Stage (8 Dec 2020)

Seán Fleming: I thank all Senators who contributed to the debate. I appreciate all of the points made. I have taken note of them but it will not be possible to respond to each of them in the time available to me. The budget was framed to deal with three particular issues facing us this year, namely, Brexit, the Covid-19 pandemic and climate change. These matters underpin the measures in the Finance...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: We are discussing a group of four amendments. Amendment No. 1 seeks to delete the €75 figure entirely, amendment No. 2 seeks to reduce it to €50, amendment No. 3 seeks to reduce the €75 figure to €1 and amendment No. 4 calls for a review to be laid before the House on the operation of this section of the Act within 12 months. As originally published, the Bill...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: I appreciate the additional comments that have been made by Senators in the second round of discussions on this measure. First, I must bow to Senator Casey, who knows the industry exceptionally well. Some people use the purchases. They purchase items before they leave the country and take those items with them. I hope, therefore, nobody is listening too carefully to that and starts...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: I have listened carefully to what everybody has said. The Minister for Foreign Affairs, Deputy Coveney, when he spoke on Second Stage of the Bill, said: ...there is a commitment from the Minister for Finance, Deputy Donohoe, to carry out that review. I reassure Senators that the Government will undertake that review over the next 12 months to see how that is impacting on the retail sector,...

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: No.

Seanad: Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Bill 2020: Committee Stage (3 Dec 2020)

Seán Fleming: Since I last spoke, a number of Senators have spoken. One Senator asked me to look at the big picture when I pointed out, for the benefit of people watching in order that they would understand what the debate is about, the maximum amount of VAT a person could be in a position not to claim back as a result of the new threshold of €75. If somebody spends €75, the maximum VAT in...

Saincheisteanna Tráthúla - Topical Issue Debate: Credit Unions (2 Dec 2020)

Seán Fleming: I thank Deputy Cahill for raising this issue relating to Clonmel credit union. He has been in contact with me about it on a couple of occasions in recent days. Normally, in the run-up to Christmas, as the Deputy outlined, the credit union would have paid out an interest rebate or dividend, having had its AGM and having received authorisation to make those payments. The Government...

Saincheisteanna Tráthúla - Topical Issue Debate: Credit Unions (2 Dec 2020)

Seán Fleming: I thank the Deputy for his remarks. As I outlined in my response, the prohibition on a virtual AGM is set out in the Credit Union Act 1997. It is not possible to change primary legislation by way of a statutory instrument. Much as I might like to be able to say otherwise, it is important to be clear and not to build up any false hopes that this could be an option. Statutory instruments...