Written answers

Tuesday, 30 September 2014

Department of Finance

Departmental Agencies

Photo of Seán KyneSeán Kyne (Galway West, Fine Gael)
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212. To ask the Minister for Finance if he will provide in tabular form all of the State agencies, bodies, organisations and working groups under his Department's remit; the core duties and functions of same; the number of staff at same; the budget of each for 2013 and proposed budget for 2014; the date of establishment of the agencies or organisations; and the legislation, primary or otherwise, from which they derive their powers. [37205/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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The Following is the information requested by the Deputy.



Company NameStrategic Banking Corporation of Ireland

Core DutiesIn the first instance the Strategic Banking Corporation of Ireland (SBCI) has been established as a means of ensuring that SMEs in Ireland are provided with sufficient finance for growth. It will also ensure that credit provided to SMEs meets their needs rather than the simply the needs of those who offer the credit. For further details see section 8 of the Strategic Banking Corporation of Ireland Act 2014
Number of StaffNone at present, staff compliment will grow to circa ten full time equivalents over the coming weeks, SBCI is being staffed by secondees currently pending recruitment and appointments. When staff are recruited they will be hired by the NTMA in the first instance and assigned to the SBCI. The SBCI will then reimburse the NTMA for all costs associated with staffing of the SBCI. Funding for these staff costs will come from the operations of the SBCI and no voted monies will be involved nor will other exchequer funds be involved.
Budget 2013Nil
Proposed Budget 2014Operational costs of the SBCI are taken from its operations and no voted monies are involvedit is self-financing. In accordance with the SBCI Act 2014 the Minister did inject €10million of equity capital into the corporation from the NPRF directed portfolio during September when establishing the corporation.
Date of establishment12 Sept 2014
LegislationStrategic Banking Corporation of Ireland Act 2014


Company NameFinancial Services Ombudsman's Bureau
Core DutiesThe Financial Services Ombudsman is a statutory officer who deals independently with unresolved complaints from consumers about their individual dealings with all financial service providers. It is a free service to the complainant. It is a statutory body funded by levies from the financial services Providers
Number of Staff34
Budget 2013€6,193,574
Proposed Budget 2014€6,285,787
Date of establishment April 2005  
LegislationCentral Bank and Financial Services Authority of Ireland Act 2004




Company NameDisabled Drivers Medical Board of Appeal
Core DutiesActs as an appeal body for those applicants refused a Primary Medical Certificate by a Senior Medical Officer in respect of the Disabled Drivers and Disabled Passengers (Tax Concessions) Scheme.
Number of Staff2
Budget €330,000 per annum
Date of establishment21 December 1989
LegislationS. 92 of the Finance Act 1989 authorised the Minister for Finance to make provision for the Disabled Drivers and Disabled Passengers (Tax Concessions) Regulations, 1994 (S.I. 353 of 1994), from which the Medical Board of Appeal derives its power.




Company NameThe Appeal Commissioners
Core DutiesThe function of the Appeal Commissioners is to hear appeals under the Taxes Consolidation Act 1997 and related legislation by taxpayers against decisions of the Revenue Commissioners. The Appeal Commissioners hear appeals relating not only to Income Tax but also in relation to Corporation Tax, VAT, CGT, Stamp Duties, CAT, Local Property Tax, certain Customs and Excise Duties , Vehicle Registration Tax and sundry other matters arising under the TCA and related legislation.
Number of StaffThere are currently two Appeal Commissioners. They are supported by two administrative staff.
Budget 2013€442,000
Proposed Budget 2014€477,000
Date of establishmentThe Appeal Commissioners are the successors to the UK Special Commissioners of Income Tax who were established in the early 1800s.
Legislation from which they derive powersAppeal Commissioners are appointed under Section 850 of the TCA 1997 which provides that the Minister for Finance shall appoint persons to be Appeal Commissioners, and the persons so appointed shall have authority to execute such powers and perform such duties as are assigned to them under the Tax Acts.




Company NameIrish Fiscal Advisory Council
Core DutiesThe role of the Council is to independently assess, and comment publicly on, whether the Government is meeting its own stated budgetary targets and objectives. It is required to assess and endorse, as it considers appropriate, the official macroeconomic forecasts underpinning each Budget and stability programme. The Council also assesses the fiscal forecasts and the fiscal stance, and monitors compliance with legislated fiscal rules
Number of Staff5 secretariat staff
Budget 2013€816,000
Proposed Budget 2014€820,000
Date of establishmentThe Irish Fiscal Advisory Council was established in 2011, and became a statutory body when the Fiscal Responsibility Act 2012 came into force on the 31stDecember 2012.
Legislation from which they derive powersFiscal Responsibility Act 2012


The state does not fund the administration of the Investor Compensation Company Limited or the compensation scheme it operates. The ICCL and its compensation fund is funded exclusively through membership levies.



Company NameInvestor Compensation Company Limited
Core DutiesEstablishment of a fund(s) from which statutory levels of compensation can be paid to eligible investors (retail investors) of failed investment firms.

Collect levies from specific categories of investment firms authorised in Ireland to provide investment business services.
Number of staff7.5 Full Time Equivalent
Budget for 1/7/13-31/7/14€1.642m (Actual outturn was €1.476m)
Budget for 1/7/14-31/7/15€1.550m (Actual outturn was €1.393m)
Date of establishmentAugust 1998
LegislationInvestor Compensation Act, 1998 (as amended)




Credit Union Advisory Committee:



YearName of Body Statutory provision for making  appointments Annual BudgetNo. of Members Core duties & Functions
2013Credit Union Advisory CommitteeAppointed by the Minister for Finance under Section 180 of the Credit Union Act 1997 Term ended 30thAugust 2013Annual Fee of €3,705 for Chairman and €2,470 for ordinary member.7 (1 Chairman and 6 ordinary members)To advise the Minister for Finance and such other persons as the Minister thinks fit regarding: -

the improvement of the management of credit unions;

the protection of the interests of members and creditors of credit unions; and

other matters relating to credit unions upon which the Minister, the Central Bank or such other persons as may be specified by the Minister may from time to time seek the advice of the Committee.
2014Credit Union Advisory CommitteeNew committee established on 22September  2014 by the Minister of Finance under Section 180 of the Credit Union Act 1997Annual Fee  of €3,705 for Chairman and €2,470 for ordinary member3 (1 Chairman and 3 ordinary members)Same as above




The Credit Union Restructuring Board (ReBo)



The Credit Union Restructuring Board "ReBo" was established as an independent body by the Minister for Finance on 1 January 2013, to facilitate the voluntary restructuring of the credit union sector in accordance with the provisions of the Credit Union and Co-Operation with Overseas Regulators Act 2012.



Credit Union Restructuring BoardCore Duties and Functions
ReBo's core function is to oversee the restructuring of credit unions on a voluntary, incentivised and time bound basis so as to support the financial stability and long term sustainability of the sector, in accordance with Part 3 of the Credit Union and Co-operation with Overseas Regulators Act 2012.  



The functions and duties shall include:

Engaging with credit unions to facilitate agreement on restructuring proposals

Analysing and examining information provided to it by the Central Bank, credit unions or other relevant 3rdparties

Developing provisional proposals and plans with credit unions for the restructuring of the credit union sector

Assisting credit unions in the preparation of restructuring plans

Considering and assessing restructuring plans submitted to it by or on behalf of credit unions including any funding requirements under the plan including requiring credit unions to engage third parties to verify information and provide a report to ReBo

Approving or approving with conditions or rejecting those restructuring plans

Recommending the restructuring plans to the Minister and advising the Bank of its recommendations

Overseeing the implementation of restructuring plans, including the provision of post-restructuring support to merged credit unions

Making recommendations to the Central Bank that credit unions be considered for stabilisation support.
Number of StaffThere are currently 9 staff working in ReBo.
Budget 2013Euro 693 k (actual). 50% of this figure is recoverable from credit unions by means of statutory levy. 
Budget Estimate 2014Euro 2,185 k (estimate). 50% of this figure is recoverable from credit unions by means of statutory levy. 
Establishment Date1 January 2013.
Primary LegislationThe Credit Union & Cooperation with Overseas Regulators Act 2012


Company NameComptroller & Auditor General
Core DutiesThe Comptroller and Auditor General holds office under Article 33 of the Constitution. His constitutional function is to audit on behalf of the State all accounts of moneys administered by or under the authority of the Oireachtas. In addition, certain other functions have been conferred on him by law. He audits the annual financial statements of over 330 public bodies and funds. As Comptroller of the Exchequer, the C&AG authorises the release of funds from the Exchequer on foot of requisitions by the Department of Finance or the National Treasury Management Agency on behalf of the Minister for Finance. Funds requisitioned must be for purposes permitted by law and can only be drawn down to the extent authorised by Dáil Éireann.
Number of Staff150 whole time equivalents
Budget 2013Estimated Expenditure €11,852,000

Estimated Income/A-in-A €5,875,000
Proposed Budget 2014Estimated Expenditure €11,797,000

Estimated Income/A-in-A €5,875,000
Date of establishment & LegislationComptroller and Auditor General Acts, 1866 to 1998




OrganisationOffice of the Revenue Commissioners
Core duties and functionsAdministration and collection of taxes and duties and implementation of Customs controls.
Number of StaffECF 2014: 5,748
Budget 2013Gross: €394m Net after Appropriations in Aid: €323m
Budget 2014Gross: €393m Net after Appropriations in Aid: €320m
Date of Establishment1/4/1923
Legislation from which they derive powersStatutory Instrument No.2, Revenue Commissioners Order, 1923

Tax and Customs & Excise Acts, as amended by Finance Acts

Criminal Justice Acts

Various European Union Regulations, e.g. Regulation 4 of the European Communities (Intrastat) Regulations,1993, etc.

Various statutes providing for the undertaking of agency services on behalf of other Departments or Agencies, such as Mercantile Marine Act, 1955,Waste Management Environmental Levy Regulations, etc .

Various statutes relating to the Administration of the civil service, e.g. Civil Service Regulations Acts, Public Service Management Act, 1997, etc.


The National Treasury Management Agency (NTMA) was established under theNational Treasury Management Agency Act 1990.

The National Pensions Reserve Fund Commission was established under the National Pensions Reserve Fund Act 2000 while the National Development Finance Agency (NDFA) was established under the National Development Finance Agency Act, 2002. The NTMA is the Manager of the NPRF and the NDFA carries out its function through the NTMA.

The National Asset Management Agency (NAMA) was established under the National Asset Management Agency Act, 2009. The NTMA assigns staff to NAMA and also provides it with business and support services and systems.

Detailed information on the functions and costs of these bodies are set out in the relevant annual reports which can be found at , , , and respectively. Details of NAMA staffing are contained in the NAMA Annual Report while details of all NTMA staffing are set out in the NTMA Annual Report.

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