Written answers
Thursday, 19 November 2015
Department of Finance
State Bodies
Seán Fleming (Laois-Offaly, Fianna Fail)
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71. To ask the Minister for Finance the number of new State bodies and agencies under his remit that have been established since February 2011; the number of such bodies subject to a sunset clause; the number of new public bodies currenty being planned; and if he will make a statement on the matter. [41270/15]
Michael Noonan (Limerick City, Fine Gael)
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In response to the Deputy's query, please find, in tabular form, the number of new State bodies and agencies under his remit that have been established since February 2011; the number of such bodies subject to a sunset clause; and the number of new public bodies currenty being planned
I would ask the Deputy to note that The New Economy and Recovery Authority (NewERA) has been established on a statutory basis within the NTMA following the commencement of the relevant section of the National Treasury Management Agency (Amendment) Act 2014. All staff assigned to the NewERA are employees of the NTMA. NewERA is not a new Body/Agency it is a new function of the NTMA.
| Body | Date on which the Body was created | Is the Body subject to a sunset clause | Number of new public bodies currently being planned |
|---|---|---|---|
| Credit Union Restructuring Board (ReBo) | ReBo was established by the Minister on an Administrative basis in August 2012. ReBo was placed on a statutory basis on 1 January 2013 on commencement of section 42 of the 2012 Act | Yes. ReBo was to have fulfilled its statutory function by December 2015. However, following a review of ReBo by the Minister credit unions now have until 31 March 2016 to receive a letter of offer from ReBo following submission of a high level business case to ReBo. ReBo will then be able to complete all restructuring projects in a methodical manner during 2016. The Minister can then dissolve ReBo when he is satisfied that ReBo has completed the performance of its functions under Part 3 of the Credit Union and Overseas Regulators Act 2012 | None |
| Irish Bank Resolution Corporation | 7 February 2013 Irish Bank Resolution Corporation (in Special Liquidation) Irish Bank Resolution Corporation was formed on 1 July 2011 and was the amalgamation of two pre-existing bodies (Anglo Irish Bank Corporation and Irish Nationwide Building Society). Irish Bank Resolution Corporation was subsequently liquidated and Irish Bank Resolution Corporation (in Special Liquidation) was created on 7 February 2013 | No While there is no sunset clause in the legislation, Irish Bank Resolution Corporation is in liquidation. | None |
| Irish Fiscal Advisory Council | The Irish Fiscal Advisory Council was established on an interim basis in July 2011 and put on a statutory footing in December 2012 by the Fiscal Responsibility Act 2012 | No | None |
| Strategic Banking Corporation of Ireland | The SBCI was incorporated in September 2014 | No | None |
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