Results 15,681-15,700 of 34,664 for speaker:Seán Fleming

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: We will accept what the witnesses and the NTMA believe is the reasonable approach to that question. The promissory note was for ten years, and we are transferring it into a sovereign bond at a lower rate. We are saving a certain amount for the next ten years. The sovereign bond has a life of 35 years, so the interest can only be compared over that 35 year period against what was paid under...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: From the Comptroller and Auditor General's point of view, how many years has the liquidation been in operation?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: We will not put an end date on it. The witnesses might find this to be a simple question, but who audits the special liquidator's annual work?

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: This is a liquidation, and at the end of any normal liquidation the liquidator produces his report. That is fine; it is the law. However, there is a large amount of taxpayers' money involved here. It is not in the legislation, but there is no independent verification of what the liquidator is doing.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: It might be required in future legislation. Perhaps there should be an independent audit. The financial statements should be produced, rather than relying on a process which has court approval at the end, or in the case of the witnesses the Minister approving it. I understand the PMPA liquidation could have went on for over 30 years because people could claim up to the age of 18 and so the...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Insurance is different. My point is that the special liquidator is contracted to the State to do work and it submits a report to the Comptroller and Auditor General when the job is done and that is the end of it. From the point of view of the Committee on Public Accounts we have no method of verifying that what is happening is in line with Government procurement and everything else that...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I am not asking the Comptroller and Auditor General to take on a special report, but I am just saying that there is no independent person overseeing this. The Department is not independent; it is part of the process.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I know that the Department says that the report is voluntary, but the Department does not independently verify.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Most liquidations are in the private sector, outside the remit of the Oireachtas. This one has the same procedure but is carried out in a publically owned body. I am trying to separate the two. There is no method for intermittent independent reports on the liquidation process. It might be said that is not provided for, but there would be a benefit if there was an equivalent independent...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: Protect the bona fides is what you are saying. That is a little like the Higher Education Authority saying, "We are happy with how the universities are running their business and there is no need for formal reports to the committee. If we were not happy we would flag that". That is fine and we accept your bona fides, but that does not give us any comfort. We are relying on believing what...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I will make a last comment. You should consider the point that some Deputies made today regarding some of the information being sought. If some of that was going to made available here today, there is a case for putting part of that out in the public domain. You do not have to hold it all just to get to the court. Some of it is available and could be dealt with. I am not advising you on...

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I understand that.

Public Accounts Committee: 2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation (14 Dec 2017)

Seán Fleming: I acknowledge the position you are in. I see the two sides of the story. However, it is the job of the Committee of Public Accounts to interrogate you on various issues. At this point, on behalf of the committee I thank all the witnesses for participating in the meeting today. We are suspending the public meeting and will meet in private session this afternoon. Our next public meeting...

Written Answers — Department of Health: Hospital Appointments Status (13 Dec 2017)

Seán Fleming: 172. To ask the Minister for Health when a person (details supplied) will receive an urgent consultant's appointment; and if he will make a statement on the matter. [53401/17]

Written Answers — Department of Justice and Equality: Crime Data (12 Dec 2017)

Seán Fleming: 218. To ask the Tánaiste and Minister for Justice and Equality further to Parliamentary Question No. 477 of 7 November 2017, when the information requested will be provided; and if he will make a statement on the matter. [52939/17]

Written Answers — Department of Defence: Permanent Structured Co-operation (12 Dec 2017)

Seán Fleming: 564. To ask the Taoiseach and Minister for Defence the implications for expenditure in his Department over the coming years if Ireland joins PESCO; his plans to ensure a full public debate on the matter before the decision is made; and if he will make a statement on the matter. [52893/17]

Public Accounts Committee: Business of Committee (7 Dec 2017)

Seán Fleming: We are joined today by Mr. Andy Harkness from the Comptroller and Auditor General's office. He is accompanied by Jennifer O'Halloran. Apologies have been received from Deputies Bobby Aylward and Alan Farrell. Deputy Mary Lou McDonald sends her apologies for the morning session; she will probably be here for the afternoon session. The first item on the agenda is the minutes of meetings....

Public Accounts Committee: Business of Committee (7 Dec 2017)

Seán Fleming: This afternoon we will meet in private session and we will discuss the Kildare-Wicklow Education Training Board situation because some of the documents and correspondence received may have legal implications. There are High Court proceedings referred to in some of the correspondence. That is for the afternoon meeting. We will come back to Kildare-Wicklow Education Training Board.

Public Accounts Committee: Business of Committee (7 Dec 2017)

Seán Fleming: Does the Deputy mean this afternoon?

Public Accounts Committee: Business of Committee (7 Dec 2017)

Seán Fleming: I do not know. We have to wait. The legal people will have some briefing note or briefing material for it. The legal people in the House have given a briefing to the secretariat for us to consider in private session this afternoon. We will just have to decide in private session. We are not in the business-----