David Stanton (Cork East, Fine Gael)
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Question 151: To ask the Minister for Finance further to Parliamentary Question No 115 of 29 June 2010 the way in which a register of persons holding licences can be inspected; and if he will make a statement on the matter. [29814/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Revenue Commissioners that while Revenue issues licences as provided for in the Auctioneers and House Agents Act 1947, there are no provisions within that Act for the provision of a register of licensees for inspection, as set out in the query. However, Section 30 of the Property Services (Regulation) Bill 2009, provides for the display for inspection by the public, of a register of licensees to be known as the Property Services Register. The provision and maintenance of this Register will be the responsibility of the Property Services Regulatory Authority. In that context the Deputy may wish to be aware that the Authority currently has a list of the Auctioneers and House Agents licensed by the Revenue Commissioners under the Auctioneers and House Agents Acts, 1947 to 1973 on its website www.npsra.ie.

Joan Burton (Dublin West, Labour)
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Question 152: To ask the Minister for Finance further to his reply to Parliamentary Question No. 55 of 17 June 2010, if he will provide equivalent figures for each of the past five years. [29827/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Central Bank and Financial Services Authority of Ireland (CBFSAI) is governed by the Central Bank Act 1942 (as amended), the Statute of the European System of Central Banks and the Treaty of Rome and is not directly responsible to me for the cost of financial regulation. However, the Central Bank Act 1942 requires my approval for an annual statement by the Irish Financial Services Regulatory Authority (IFSRA) of proposed income and expenditure specifying the amounts to be raised by levies in respect of financial regulation. Once I have approved it, the statement is laid before the Houses of the Oireachtas. In addition, the annual report of the IFSRA which shows the outcome of income and expenditure in the previous year is laid before the Houses of the Oireachtas each year.

The CBFSAI has advised me that over the last five years some 50 per cent of the total costs of the Financial Regulator have been met by the imposition of levies on the industry. The balance of the total annual costs is provided by the CBFSAI in accordance with Section 33(L) of the Central Bank Act 1942. In 2009, the CBFSAI bore the full cost of certain securities market supervision activities carried out within the Financial Regulator.

The tables below set out the total cost of regulation, the total contribution from industry (annual funding requirement –AFR- set out in the fourth column of each table) and the contribution from each industry category for each of the last five years.

*This figure takes account of a surplus or deficit in the previous years funding requirement. Any surplus is offset against the next year's figures.

**This figure includes the 100 percent funding levy on the credit institutions for the cost of the government guarantee.

*** The expenses of the Financial Regulator, as published in its Statement of Income and Expenditure, reflect the actual costs incurred each year in the operations of the Regulator. The Annual Funding Requirement (AFR) is determined on the basis of the budgeted expenses of the Financial Regulator for a given year, adjusted for any surplus/deficit from the previous year that may arise from (i) differences between budgeted and actual expenditure and (ii) any shortfall in levies collected within specific industry categories. The AFR is then used to determine the levy to be applied to industry categories and within such categories to individual firms. (In any particular year the figure in column 3 is not calculated by reference to the figure in column 4.)

2005

2006

2007

2008

2009