Results 18,201-18,220 of 27,019 for speaker:Michael Noonan

Seanad: Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: The best thing I can do is read the speaking note on the section. With effect from the making of the special liquidation order there shall, subject to some exceptions, be an immediate stay on all proceedings against IBRC. No further actions or proceedings can be issued against IBRC without the consent of the High Court and the Minister may discharge or remove any liquidator or examiner that...

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: They will not be acting in the interest of the Irish taxpayer. That is why the language is couched in this fashion. If the Senator wants an explanation of where we are coming from, he should just read the Long Title. He will see that a Long Title always outlines the scope of a Bill and its position. If this were normal legislation, I would be first to the agree with Senator Barrett's...

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I thank everyone who has contributed. There is a wide variety of views but they are all very interesting. The last speaker, Senator Cullinane, asked if there was any precedent for passing Bills as emergency legislation late at night. There has been a whole series of Offences against the State Acts, when the State was under threat from subversives-----

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: -----when the Dáil and the Seanad had to meet late into the night.

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I am answering Senator Cullinane's question.

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: The Senator challenged me to come up with a precedent where the Houses of the Oireachtas sat through the night to pass emergency legislation.

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: If Senator Mary White thinks I can sit here and be abused late into the morning but not be allowed to reply to a simple question with a truthful answer, I do not think that is the way the Seanad should proceed. This is an open forum and there is an exchange of views. I am entitled to reply, especially when confirming the truth.

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I know the truth hurts but that is no reason not to express the truth occasionally. This is stand-alone legislation. I do not know whether the European Central Bank will agree a deal on the promissory notes tomorrow. The ECB will discuss it tomorrow and discussed it this evening. The ECB may agree or may not and there may be no deal. This is a stand-alone item of legislation which, on...

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Michael Noonan: I thank all Senators for their attendance this evening. It is very late and I appreciate their attendance. As Senators are aware the Government has been engaged in detailed discussions with the European Central Bank to agree a satisfactory solution to the issue of the promissory notes for the State, the European Central Bank and the eurozone. The ECB is considering a proposal from the...

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: Deputy Higgins has been calling for the liquidation of Anglo Irish Bank for years. It is a bit late in the night to talk about the workers when he sentenced them himself years ago.

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: It is a bit late at night for conspiracy theories.

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: With regard to Deputy Doherty's question, I read out the appropriate section which lists in detail what the security means under the terms of the Act. I understand the ministerial guarantees offered by my predecessor, the late Brian Lenihan, are not supported by e-mails, so that does not arise in this issue. There were fully formed letters exchanged and in so far as there is a ministerial...

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: A guarantee is a guarantee and we tend to honour them. That is not the primary issue, which is the promissory note process. That is where the commitment was made by the previous Government. There was an arrangement to repay the funding provided by the European Central Bank through emergency liquidity funding for the Central Bank of Ireland. The money which kept the IBRC where it is was...

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: I may be in a position tomorrow to answer some of the questions being asked now.

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: I am not in a position to answer those questions tonight. It is worth stating for the information of the House that if a deal had been done today, the first element would have been what we are doing tonight. There is no contention between the European Central Bank and the Governor of the Central Bank of Ireland or the Irish Government on the approach of liquidating IBRC, having one bad bank,...

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: In the morning, the same person will be in communication with the staff. I understand the channel will be through the head of human resources, if that person is available in the morning. However, we are not acting on the spur of the moment. The negotiations have gone on for a very long time and it always was envisaged that this course of action would be the first step. Consequently, the...

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: They are preserved and the liquidator in the first instance will be mandated and will have the full powers to proceed with cases and maintain their continuity. Alternatively, if a point arrives at which it is in the interest of the State to settle, he may do that also. At some point, some of this responsibility will transfer to NAMA. However, I wish to assure the Deputy there is no need to...

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: No, it is in there.

Irish Bank Resolution Corporation Bill 2013: Committee and Remaining Stages (6 Feb 2013)

Michael Noonan: In the first instance, Deputy Doherty's question refers to section 1 - the interpretation section - and asks me to define "security". On page 6 of the Bill it is already defined. It states:"security" includes -(a) a charge, (b) a guarantee, indemnity or surety, (c) a right of set-off, (d) a debenture, (e) a bill or exchange, (f) collateral, (h) any other means of securing -(i) the...

Written Answers — Department of Finance: Tax Settlements (6 Feb 2013)

Michael Noonan: I am advised by the Revenue Commissioners that data are not maintained in a manner to enable all the details sought by the Deputy to be supplied. However, they have supplied me with the following information for the information of the Deputy. Tax Settlements made in accordance with Section 1086 of the Taxes Consolidation Act (TCA), 1997 are published in Iris Oifigiúil on a quarterly...