Results 15,201-15,220 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Banking Sector Recruitment (9 Jul 2013)

Michael Noonan: I am informed by the Central Bank that the Central Bank Commission approves the staffing plan for the Central Bank on an annual basis and this defines the resourcing needs across the organisation. The Central Bank adopts a thorough recruitment process for all positions. The selection process involves an initial shortlisting by human resources, further shortlisting by the hiring manager...

Written Answers — Department of Finance: Banking Operations (9 Jul 2013)

Michael Noonan: I have been informed by the Central Bank that all requests for new lending go through a formal process which inter alia includes steps such as application, assessment, approval, decline or defer pending further information, issue and signing of a binding contract and draw down of funds. Over the last three years the Central Bank has taken various steps to ensure higher lending standards by...

Written Answers — Department of Finance: Tobacco Smuggling (9 Jul 2013)

Michael Noonan: I am informed by the Revenue Commissioners, who are responsible for the collection of tobacco products tax and for tackling the smuggling and sale of illicit tobacco products, that they attach a high priority to dealing with this criminal activity. Their "Strategy on Combating the Illicit Tobacco Trade (2011-2013)", which is published on the Revenue website (www.revenue.ie), includes a range...

Written Answers — Department of Finance: Negative Equity Mortgages Numbers (9 Jul 2013)

Michael Noonan: The Central Bank has engaged with mortgage lenders in relation to negative equity mortgages to develop a mortgage product that would allow home owners to sell their existing home and transfer the negative equity portion of the original loan to the new loan. In order to ensure that proposals in relation to such mortgages are consistent with the Central Bank's consumer protection and...

Written Answers — Department of Finance: Property Taxation Collection (9 Jul 2013)

Michael Noonan: I am advised by Revenue that the Deputy is correct in comparing the ‘single debit authority’ (SDA) payment option to an electronic cheque and correct in stating that it is, by definition, an authority for a single debit to be made from the relevant account in favour of Revenue. Revenue has confirmed that where a taxpayer opted to pay Local Property Tax (LPT) in respect of 2013...

Written Answers — Department of Finance: Gambling Sector (9 Jul 2013)

Michael Noonan: I am advised by the Revenue Commissioners that statistics on winnings from gambling are not held by them. I would advise the Deputy that only betting comes within my remit in the context of betting duty. Overall gambling and gaming is within the remit of the Minister for Justice and Equality.

Written Answers — Department of Finance: Tax Code (9 Jul 2013)

Michael Noonan: Officials of my Department continue to monitor developments regarding the imposition of an SMS/MMS/mobile call levy in Hungary. I am advised that, since 1 July 2012, publicly available telephone services in Hungary are subject to a tax which is levied on telecommunications service providers and which applies on the initiation of phone calls and the sending of SMS and MMS messages. The tax...

Written Answers — Department of Finance: Money Laundering (9 Jul 2013)

Michael Noonan: European legislation has been adopted to protect the financial system and certain professions and activities from being misused for money laundering and financing of terrorism purposes. The anti-money-laundering obligations applicable in Ireland derive from the Third EU Money-Laundering Directive. The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 was enacted in July...

Written Answers — Department of Finance: Pension Provisions (9 Jul 2013)

Michael Noonan: Finance Act 2013 was passed into law on 27th March and section 17 of the Act, which makes provision for pre-retirement access to AVCs, has effect from that date. Section 17 introduces a new section 782A into the Taxes Consolidation Act 1997 which provides members of occupational pension schemes with a three-year window of opportunity to draw down, on a once-off basis, up to 30% of the...

Written Answers — Department of Finance: Financial Services Sector Remuneration (9 Jul 2013)

Michael Noonan: The recent vote in the European Parliament on aspects of the UCITS V proposal has no immediate effects. The UCITS V proposals will be determined by the co-decision process between the Council and the European Parliament and the shape of any final UCITS V Directive remains to be seen. Discussions within the Council on the proposal are still at a relatively early stage and it would not be...

Written Answers — Department of Finance: Property Taxation Exemptions (9 Jul 2013)

Michael Noonan: The Government decided that a liability to the Local Property Tax (LPT) should apply to all owners of residential property with a limited number of exemptions. Limiting the exemptions available allows the rate to be kept low for those liable persons who do not qualify for an exemption. A requirement to pay management fees is not relevant in determining liability to the LPT. Accordingly,...

Written Answers — Department of Finance: Banking Sector Investigations (9 Jul 2013)

Michael Noonan: The Department of Finance is not conducting an investigation into Anglo Irish Bank as they have no statutory responsibility to do so. As the Deputy is aware the Garda Síochána are the body responsible for criminal investigations in the State. I understand that the Garda Bureau of Fraud Investigation have requested access to various documents/materials in the banks, including audio...

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: Subsection 3(a) states:the relevant credit institution is subject, in the state or territory where its head office is located, to regulatory or administrative provisions relating to authorisation to carry on banking business in that state or territory and supervision corresponding to those in the State,It is caught in the phrase "supervision corresponding to those in the State".

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: The capital letter indicates that we are talking about Ireland, that is, the "State".

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: This technical amendment involves an amendment to section 47 of the Central Bank and Credit Institutions (Resolution) Act 2011. It is a drafting amendment and is consequential on changes made to section 46 of the 2011 Act on Report Stage in this House.

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: This amendment is also technical in nature and is designed to remedy a incorrect reference in the Central Bank and Credit Institutions (Resolution) Act 2011. The objective is to ensure that the Central Bank is legally able to share confidential information to facilitate the Central Bank, the Minister, the Governor, the head of financial regulation or a special manager appointed under the...

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: Amendments Nos. 1 and 6 simply correct a section number reference in section 1 and in the Second Schedule. Amendment No. 4 is a technical amendment to section 6 of the Irish Bank Resolution Corporation Act 2013 and relates to the Bankers' Books Evidence Act 1879. The Bankers' Books Evidence Acts provide for a procedural admissibility of evidence rule. This is one of the permitted...

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: The note indicates that section 3 of the Bankers' Books Evidence Acts provides that "a copy of any entry in a banker's book shall in all legal proceedings be received as prima facie evidence of such entry, and of the matters, transactions, and accounts therein recorded". Section 4 of the Bankers' Books Evidence Acts provides for the admissibility of bankers' books evidence, as an exception...

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: They are records of transactions in a bank in written form, which could be used subsequently and would have an evidential quality and could be brought forward as an exception to the hearsay rule once we enact the Bill. As I said previously, it mirrors section 191 of the National Asset Management Agency Act 2009. On reviewing the Bill at this Stage, the Attorney General's office advised that...

Central Bank (Supervision and Enforcement) Bill 2011: Amendments from the Seanad (4 Jul 2013)

Michael Noonan: These amendments to the Central Bank Act 1971 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 EU. The Central Bank Act 1971 provides the statutory basis for the authorisation regime for credit institutions in Ireland. The 1971 Act and...