Departmental Agencies

Dáil Éireann Debate, Tuesday - 30 September 2014

Tuesday, 30 September 2014

Questions (212)

Seán Kyne

Question:

212. Deputy Seán Kyne asked 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]

Written answers

Minister for Finance

The Following is the information requested by the Deputy.

Company Name	Strategic Banking Corporation of Ireland www.sbci.gov.ie
Core Duties	In 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 Staff	None 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 2013	Nil
Proposed Budget 2014	Operational costs of the SBCI are taken from its operations and no voted monies are involved it 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 establishment	12 Sept 2014
Legislation	Strategic Banking Corporation of Ireland Act 2014

Company Name	Financial Services Ombudsman's Bureau
Core Duties	The 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 Staff	34
Budget 2013	€6,193,574
Proposed Budget 2014	€6,285,787
Date of establishment	April 2005
Legislation	Central Bank and Financial Services Authority of Ireland Act 2004

 

Company Name	Disabled Drivers Medical Board of Appeal
Core Duties	Acts 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 Staff	2
Budget	€330,000 per annum
Date of establishment	21 December 1989
Legislation	S. 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 Name	The Appeal Commissioners
Core Duties	The 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 Staff	There are currently two Appeal Commissioners. They are supported by two administrative staff.
Budget 2013	€442,000
Proposed Budget 2014	€477,000
Date of establishment	The 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 powers	Appeal 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 Name	Irish Fiscal Advisory Council
Core Duties	The 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 Staff	5 secretariat staff
Budget 2013	€816,000
Proposed Budget 2014	€820,000
Date of establishment	The Irish Fiscal Advisory Council was established in 2011, and became a statutory body when the Fiscal Responsibility Act 2012 came into force on the 31st December 2012.
Legislation from which they derive powers	Fiscal 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 Name	Investor Compensation Company Limited
Core Duties	Establishment 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 staff	7.5 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 establishment	August 1998
Legislation	Investor Compensation Act, 1998 (as amended)

 

Credit Union Advisory Committee:

Year	Name of Body	Statutory provision for making  appointments	Annual Budget	No. of Members	Core duties and Functions
2013	Credit Union Advisory Committee	Appointed by the Minister for Finance under Section 180 of the Credit Union Act 1997 Term ended 30th August 2013	Annual 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.
2014	Credit Union Advisory Committee	New committee established on 22September  2014 by the Minister of Finance under Section 180 of the Credit Union Act 1997	Annual Fee  of €3,705 for Chairman and €2,470 for ordinary member	3 (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 Board	Core 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 3rd parties 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 Staff	There are currently 9 staff working in ReBo.
Budget 2013	Euro 693 k (actual). 50% of this figure is recoverable from credit unions by means of statutory levy.
Budget Estimate 2014	Euro 2,185 k (estimate). 50% of this figure is recoverable from credit unions by means of statutory levy.
Establishment Date	1 January 2013.
Primary Legislation	The Credit Union and Cooperation with Overseas Regulators Act 2012

Company Name	Comptroller and Auditor General
Core Duties	The 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 and 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 Staff	150 whole time equivalents
Budget 2013	Estimated Expenditure €11,852,000 Estimated Income/A-in-A €5,875,000
Proposed Budget 2014	Estimated Expenditure €11,797,000 Estimated Income/A-in-A €5,875,000
Date of establishment and Legislation	Comptroller and Auditor General Acts, 1866 to 1998

 

Organisation	Office of the Revenue Commissioners
Core duties and functions	Administration and collection of taxes and duties and implementation of Customs controls.
Number of Staff	ECF 2014: 5,748
Budget 2013	Gross: €394m Net after Appropriations in Aid: €323m
Budget 2014	Gross: €393m Net after Appropriations in Aid: €320m
Date of Establishment	1/4/1923
Legislation from which they derive powers	Statutory Instrument No.2, Revenue Commissioners Order, 1923 Tax and Customs and 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 the National 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 www.ntma.ie, www.nprf.ie, www.ndfa.ie, and www.nama.ie 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.