Results 621-640 of 1,156,439 for in 'Dáil debates' OR (speaker:Ciarán Cuffe OR speaker:John Lahart OR speaker:Aindrias Moynihan OR speaker:Verona Murphy OR speaker:Denis Naughten OR speaker:Martin Kenny OR speaker:Johnny Mythen OR speaker:Thomas Pringle OR speaker:Hildegarde Naughton OR speaker:Niamh Smyth OR speaker:Catherine Connolly OR speaker:Neale Richmond OR speaker:Seán Haughey OR speaker:James O'Connor OR speaker:Brendan Griffin OR speaker:Aengus Ó Snodaigh OR speaker:Louise O'Reilly OR speaker:Michael McGrath OR speaker:Aengus Ó Snodaigh17 OR speaker:Danny Healy-Rae OR speaker:Charlie McConalogue OR speaker:Aengus Ó Snodaigh18 OR speaker:Patrick O'Donovan OR speaker:Eoin Ó Broin OR speaker:Kieran O'Donnell OR speaker:Aengus Ó Snodaigh04 OR speaker:Donnchadh Ó Laoghaire OR speaker:Bernard Durkan OR speaker:David Stanton OR speaker:Mark Ward OR speaker:Fergus O'Dowd OR speaker:Bríd Smith OR speaker:Aengus Ó Snodaigh32) in 'Committee meetings'

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: I am looking at the Charities Regulator’s budget. We are here to assess value for money. From what I have seen from the figures of the Peter McVerry Trust, it has an asset value of approximately €70 million, although I may be corrected on that.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: Is that after disposals?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: That is its income, but what is its asset value?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: It has charitable status. Does it pay tax?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: The whole issue with debt warehousing and such ran into €8 million. That is just one charity. Ms Delaney told us the Charities Regulator's resourcing from the Government is €5 million per year. Ms Delaney probably has an opinion that she may or may not be able to share but if that is just one charity, the Charities Regulator is very under-resourced from a confidence and...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: How much of that was to go towards salaries?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: It was only for salaries.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: Is it fair to say that the Government gave €30 million odd to bail out the Peter McVerry Trust? I ask the Comptroller and Auditor General's office if that is where we ended up.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: I will finish with this but, leaving it at €15 million, it is counterproductive not to resource the regulator when we are providing money and where we can see it is not being spent accordingly. I take it the regulator's investigation into the Peter McVerry Trust is not yet complete.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Verona Murphy: We look forward to having the regulator back on that basis. I thank Ms Delaney.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Gabhaim buíochas leis an Leas-Chathaoirleach agus leis na finnéithe as teacht os comhair an choiste. In the briefing pack it is mentioned that the Charities Regulator is responsible for the registration and regulation of charities in Ireland. Can I take it that the regulator grants charitable trust ownership structures to companies here as well? In other words, they must apply to...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: All right. Under the 2009 Act, the regulator is required to ensure and monitor compliance by charitable organisations and to carry out investigations in accordance with the Act. Does that apply to all companies with a charitable ownership structure?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Does this include the type of structures that are traded within the IFSC?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Why is that?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: I understand the regulator looked into this in 2017 and I think four companies were identified as using that section 110. Am I correct?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: According to a press statement from 2017 that the regulator has on its website: The Charities Regulator has completed a review of registered charities holding shares in section 110 companies on trust. The purpose of the review was to establish the number of registered Irish charities holding shares in section 110 companies and to determine whether they fell within the remit of the...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: It would be fantastic if that could be brought to the committee. I am talking about three structures and obviously I am not aware of what three they were or anything like that, so I am not speaking about them. I am sure they are doing fabulous work. When the regulator is looking at those I assume it looks into the background of them, such as the way they are constituted and if there is a...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: That is good. I asked about that because over the last two and a half years there has been significant interest in the IFSC and IFSC-based shell companies that often use charitable trust ownership structures. Some of these firms have billions in assets. We know about some examples from research carried out by academics in Trinity College showing that Russian-connected funds funnelled...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Yes, in order to acquire status.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Okay, but from the regulator's press statement there was the suggestion there were three that were using section 110. Ms. Delaney may wish to come back on that. I am just asking these questions because it is something I have a long interest in and it has been in the public eye. The Department of Finance did a review of section 110 in its entirety in the last year. Did it at any point ask...