Results 16,661-16,680 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 19: In page 14, before section 20, but in Part 2, to insert the following new section:20. - (1) The Bank may publish, in such form and manner as it considers appropriate, guidelines for the purpose of providing practical guidance for reviewees and reviewers relating to the application and operation of this Part. (2) The guidelines may include different provisions in...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: An industry consultation process took place on this provision. I will give the Deputy a short summary to give him an insight into the thinking behind the measure. What emerged from the process were concerns that the Central Bank might take action on the basis of interim or incomplete reports, to which it can have access under section 12. There was also the need for prior consultation with...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: That is correct.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: The Central Bank already has that power.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: It is an additional power. The Central Bank already has the power to select an authorised officer to produce a report on a particular practice or set of circumstances. This is in addition to the power recommended by Deputy Pearse Doherty as an alternative. They are not alternatives. The two powers give the Central Bank a range of options on how to proceed and will make regulation more...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 1: In page 7, lines 23 to 25, to delete subsection (2) and substitute the following:"(2) The Central Bank Acts 1942 to 2012 and this Act (other than section 54) may be cited together as the Central Bank Acts 1942 to 2013 and shall be construed together.".

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 2: In page 8, subsection (1), between lines 16 and 17, to insert the following:“ “contravene” includes fail to comply, and also includes—(a) attempting to contravene, (b) aiding, abetting, counselling or procuring a person to commit a contravention, (c) inducing, or attempting to induce, a person (whether by threats or promises or otherwise) to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 3: In page 9, subsection (1), line 29, to delete “Part 1 to Part 4” and substitute “Parts 1 to 4”. These are technical amendments changing cross-references.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 4: In page 9, subsection (2), line 30, to delete “Part 1 to Part 8” and substitute “Parts 1 to 8”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 5: In page 9, subsection (3), line 32, to delete “Part 1 to Part 7” and substitute “Parts 1 to 7”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I move amendment No. 6: In page 9, between lines 34 and 35, to insert the following subsection:“(4) The amendment of a statutory instrument by subsection (3) does not prevent or restrict the subsequent amendment or revocation of the instrument by another statutory instrument.”. This is a technical amendment about statutory instruments.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: Section 3 of the Statute of Limitations Act 1991 introduced an element of discoverability to the limitation period applicable in respect of claims for personal injuries. Personal injuries are defined to include any disease or impairment of a person's physical or mental condition. On a basic level, claims in respect of such injuries must now be instituted within two years of the date on...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I am not opposed in principle to the measure under discussion. The provision would more appropriately be introduced in a reforming Bill of the Minister for Justice and Equality to take account of recommendations from the Law Reform Commission on the Statute of Limitations. I may have a legislative vehicle in my Department which will provide for the amalgamation of the Office of the Pensions...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: It will involve the amalgamation of two offices over a two year period, which means it will not be introduced immediately. I hope it will be introduced within the lifetime of the Government.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Central Bank (Supervision and Enforcement) Bill 2011: Committee Stage (24 Apr 2013)

Michael Noonan: I have a lengthy speaking note which I will deliver for the Deputy. Part 2 of the Bill provides a new power for the Central Bank to require financial service providers to commission and submit to it an independent and objective report. The Central Bank has significant information gathering powers which are being further enhanced under the Bill, given the central importance of information...

Written Answers — Department of Finance: Property Taxation Administration (24 Apr 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the introduction of the Local Property Tax (LPT), which amounts to the largest extension of the self-assessment system in the history of the State, represents a significant administrative challenge for Revenue. As a new service that will have exceptional temporary pressures at particular stages of its initial implementation it is difficult to...

Written Answers — Department of Finance: Property Taxation Administration (24 Apr 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the relevant deadlines for filing LPT Returns are 7 May for paper filers and 28 May for electronic filers. At the launch of the Commissioners Annual Report this morning, they announced that as of 23 April, 218,903 LPT Returns had been filed. Of these, 133,716 were filed electronically and 85,187 were paper Returns. The Commissioners have...

Written Answers — Department of Finance: Pension Related Deductions (24 Apr 2013)

Michael Noonan: I regret that it was not possible, in the time available, to provide an answer to this question. A response is currently being prepared and this will be forwarded shortly, directly to the Deputy.

Written Answers — Department of Finance: Tax Rebates (24 Apr 2013)

Michael Noonan: I have been advised by the Revenue Commissioners that PAYE Balancing Statement (P21) for 2010 and 2011 issued to the person concerned on 26 March 2013. Based on these statements underpayments of income tax arise in the amount of €99.64 for 2010 and €1.20 for 2011. According to Revenue records no income levy was deducted for 2010. Accordingly no refund is due. With regard to...

Written Answers — Department of Finance: Departmental Expenditure (24 Apr 2013)

Michael Noonan: I propose to take Questions Nos. 64 and 65 together. The capital allocation for my Department for 2012 was €0.150m. None of this budget was used for current expenditure. The capital allocation for my Department for 2013 is €0.150m. There is no immediate demand on this allocation and therefore it is profiled for spend in the final quarter of this year.