Results 81-100 of 1,732 for nama speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: NAMA continuously reviews the assets of every NAMA debtor to establish if properties securing their loans could be utilised for residential development or social housing. In fact, NAMA has an established policy of identifying to Local Authorities, properties which may be suitable for their purposes. NAMA has facilitated the sale or lease by its debtors and receivers of properties,...

Written Answers — Department of Finance: NAMA Operations (16 Dec 2016)

Michael Noonan: The most recent details on NAMA's remaining portfolio are available in the Agency's quarterly accounts for Q2 of 2016.  This is published on the NAMA website via: . Page 44 of the report and accounts provides details on NAMA's outstanding loanbook.  I expect to receive NAMA's report and accounts for Q3 of 2016 in the coming week and expect to lay that report before the...

Written Answers — Department of Finance: NAMA Social Housing Provision (16 Dec 2016)

Michael Noonan: I would firstly point out that although NAMA works closely with the Minister for the Environment, Community and Local Government and the Minister of State for Housing and Planning in relation to the delivery of social housing, the Agency is not responsible for approving and transferring housing units for social housing. Rather, NAMA has an established initiative of identifying properties,...

Written Answers — Department of Finance: NAMA Portfolio (13 Dec 2016)

Michael Noonan: As the Deputy will be aware, NAMA does not directly own or manage properties. NAMA has acquired loans and its role is that of a lender with claims over security for its loans, like a bank, rather than a property owner or lessor. In that capacity, NAMA holds security over properties that are owned by its debtors or, in the case of enforcement, which are managed on behalf of those debtors by...

Written Answers — Department of Finance: NAMA Portfolio (13 Dec 2016)

Michael Noonan: It is important to stress that NAMA  is not a property developer and does not own the site to which the Deputy refers. Rather, NAMA's role is that of a secured lender to the property owner. As a secured lender, NAMA may provide funding to its debtors and receivers where it is shown that this will increase the overall recovery for NAMA from the security being funded....

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: ...S. Donnelly. I have a note that I can read or give to him. Revenue argues that he is basing his figures on a sum of €40 billion, but that figure is grossly over-inflated. By the end of 2015 NAMA had overseen loan sales with a nominal value of just €20 billion. It is also stated the Deputy is assuming a higher interest rate than would be customary and that it is highly...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael Noonan: ...the same length. The provision of relief for such losses is a standard feature of our tax code and of all other OECD countries. In regard to the more specific matter of bank losses, under the NAMA Act 2009, a new section, section 396C, was inserted into the Taxes Consolidation Act 1997. Section 396C was a provision which limited the amount of trading losses incurred by a NAMA...

Written Answers — Department of Finance: Departmental Properties (22 Nov 2016)

Michael Noonan: ...) owns a licensed premises in Temple Bar. This was historically in the ownership of Anglo Irish Bank and the Special Liquidators have advised that it will be placed on the market in early 2017. 2. NAMA has ownership of a number of sites which fall within the Dublin Docklands SDZ. However, due to continuing development within the Docklands SDZ, these are all active sites, which form part...

Other Questions: Tax Code (10 Nov 2016)

Michael Noonan: I am aware that there is some challenge initiated by developers against the proposal and the policy of the Government that NAMA would build 20,000 houses to help with the supply shortages of residences, particularly in Dublin. I do not have any idea how that case is proceeding. With regard to Deputy Wallace's query on REITs, where relevant payments are made to non-resident investors, the...

Ceisteanna - Questions - Priority Questions: NAMA Operations (10 Nov 2016)

Michael Noonan: Several Deputies make representations to and inquiries of NAMA. NAMA does not require them to state what relationships they have with the people seeking the information or whether they are seeking it personally or on behalf of others. Deputy Paul Murphy might be right - I do not know whether he is - regarding the information that he is placing on the record, but there is nothing in what he...

Ceisteanna - Questions - Priority Questions: NAMA Operations (10 Nov 2016)

Michael Noonan: The newspaper article that Deputy Murphy refers to includes a reference to a specific property. I am informed that NAMA was not the owner or seller of this property. The sale was managed by a receiver and, in accordance with NAMA's policy, was fully openly marketed and sold to the highest bidder. The article also includes reference to correspondence between NAMA and a former Deputy...

Ceisteanna - Questions - Priority Questions: NAMA Operations (10 Nov 2016)

Michael Noonan: As the Deputy is aware, Deputies and others inside and outside the House frequently contact NAMA and are entitled to do so under law. As a matter of fact, NAMA circulated the number of a dedicated helpline and a dedicated email address for Deputies through which they can obtain information from NAMA. It is the practice of many Deputies to get such information on behalf of their community or...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: ...the National Asset Management Agency Act 2009, a new section – section 396C – was inserted into the Taxes Consolidation Act 1997. The provision limited the amount of prior-year losses that a NAMA participating institution could offset against trading profits to 50% of trading profit for each accounting period. It should be noted that it did not disallow any tax losses from...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (Resumed) (10 Nov 2016)

Michael Noonan: ...usual feature in other tax jurisdictions, and that is the way corporation tax applies to business and how losses are treated. In respect of the banks, the late Brian Lenihan Jnr. introduced the NAMA legislation at a very sensitive time. He brought in this provision. It was a decision which made the passage of the Bill more acceptable, but he never had any expectation that there would...

Written Answers — Department of Finance: NAMA Operations (10 Nov 2016)

Michael Noonan: In no way has the integrity of NAMA or the NAMA Board or the integrity of its decisions been brought into question, so I have no intention of directing NAMA to halt its activities. To do so would irreparably damage NAMA's positive contribution to our recovery and damage our reputation as a credible, open and transparent market. By extension, any such...

Written Answers — Department of Finance: NAMA Operations (10 Nov 2016)

Michael Noonan: NAMA does not own, manage or sell properties.  The Agency's role is, like a bank, that of a secured lender. Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed receivers/administrators, properties continue to be managed by their existing owners.  The property referred to in the newspaper article...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Finance Bill 2016: Committee Stage (9 Nov 2016)

Michael Noonan: They are different again. The NAMA people are being financed through NAMA. NAMA is putting up the finance for the builders within NAMA.

Written Answers — Department of Finance: NAMA Property Sales (9 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 93 and 94 together. As the Deputy is aware NAMA has acquired loans from the five participating institutions and is not the owner or manager of properties. The Agency's role is, like a bank, that of a secured lender. Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed...

Written Answers — Department of Finance: Health and Safety Regulations (11 Oct 2016)

Michael Noonan: ...with the ESRI and adheres to the Institute's Health and Safety procedures and policies. 13 National Asset Management Agency (see answer from NTMA below) Yes September 2016 Yes November 2015 Yes 2010 14 National Treasury Management Agency (answer is  inclusive of NAMA and the SBCI) Yes September 2016 Yes November 2015 Yes 2010 15 Tax Appeals Commission Under a service level...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: ...sector on matters which are relevant to the discussions of the committee. I thank the committee members for inviting me to discuss the Comptroller and Auditor General's value for money report on NAMA's sale of its Northern Ireland portfolio. I wish the committee well as it undertakes its important work. I will begin by placing NAMA's activities in context. We have all come a long...