Written Answers Nos. 105-122
105. Deputy Willie Penrose asked the Tánaiste and Minister for Social Protection if she will take steps to ensure that appropriate credits are provided for persons who had to leave the workforce due to the marriage bar in the early 1970s, as this is having an impact upon their ability to receive appropriate pensions at this point in time; and if she will make a statement on the matter. [16806/15]
View answerThe ‘marriage bar’, a requirement that women leave paid employment on entering marriage, was a condition of employment within most sectors of the public service until 1973. A number of private sector employers operated similar restrictions at that time, generally in respect of ‘white collar’ positions, notably in the financial sector. The marriage bar was abolished in the public service in 1973, and similar provisions in the private sector were made illegal in 1977, by legislation prohibiting discrimination in employment on grounds of sex.
Issues relating to public sector employment and pensions are the responsibility of the Minister for Public Expenditure and Reform. In general, civil and public servants recruited at that time paid a modified rate of PRSI (i.e. not the full Class A rate) which gave coverage for widow(er)'s and orphan's pensions, occupational injury benefit, bereavement grant and carer’s benefit only. It did not provide cover for the State pension. The modified rate of social insurance was a condition of employment for public servants at that time. Accordingly, even if those affected by the marriage bar in the public service had continued in employment, contributions paid at this rate would not have given entitlement to a State pension (contributory) under the social welfare system.
It is not possible to estimate how many women in the private sector faced an equivalent requirement to leave their jobs upon marriage, nor how many of these would then have taken up employment with other employers that had no such policy. At that time equivalents to the current jobseeker's benefit and allowance schemes were available to persons suffering the contingency of unemployment in a manner similar to that which exists today and there were provisions whereby persons not entitled to benefit or assistance could protect their social insurance record via credited contributions.
Information provided to workers at the time clearly notified them with regard to the provision of credits, and persons leaving employment were also advised of the potential to continue making social insurance contributions via the voluntary contributions system. Credits would generally only have been available to persons who were available for and genuinely seeking full-time work.
The homemaker’s scheme was introduced in 1994 to make qualification for State pension contributory (SPC) easier for those who take time out of the workforce for caring duties.
The scheme allows up to 20 years spent caring for children under 12 years of age, or incapacitated people, to be disregarded when a person’s social insurance record is being calculated for pension purposes. The effect of this is to reduce the number of years by which the person’s contributions are divided, thereby increasing their yearly average, making it easier for them to qualify for a maximum rate SPC. However, it is important to note that the homemaker’s scheme will not, of itself, qualify a person for a SPC. The standard qualifying conditions for the SPC must also be satisfied. These require a person to enter insurable employment at least ten years before pension age, pay a minimum of 520 contributions at the correct rate (credited contributions do not satisfy this condition) and achieve a yearly average of at least 10 contributions paid or credited on their record.
For those with insufficient contributions to meet the requirements for a State pension (contributory), the State pension system provides alternative methods of support. If someone has paid little or no PRSI, they may qualify for a means tested State pension (non-contributory), the maximum personal rate for which is €219, which amounts to just over 95% of the maximum rate of the State pension (contributory). Alternatively, if their spouse or civil partner is in receipt of a State pension (contributory), they may instead qualify for an Increase for a Qualified Adult of up to €206.30, which is just under 90% of the maximum personal rate of the State pension (contributory).
106. Deputy Willie Penrose asked the Tánaiste and Minister for Social Protection the position regarding an application for disability allowance in respect of a person (details supplied) in County Westmeath; if same will be expedited; and if she will make a statement on the matter. [16832/15]
View answerIn order to determine the circumstances of the person concerned, his file was forwarded to his local Social Welfare Inspector. S/he will arrange to meet with the person concerned as soon as possible.
A final decision on his entitlement to disability allowance will be given on receipt of the Social Welfare Inspectors report. The person concerned will be notified directly of the outcome.
108. Deputy Tom Fleming asked the Tánaiste and Minister for Social Protection if she will urgently review an application for carer's allowance in respect of a person (details supplied) in County Kerry; and if she will make a statement on the matter. [16835/15]
View answerI confirm that the department received an application for carer’s allowance from the person in question on the 11th February 2015. The person concerned was refused carer’s allowance on the grounds that the care recipient is not so disabled as to require full time care and attention as prescribed in regulations. He was notified of this decision on the 26th March 2015, the reason for it and of his right of review or appeal. The person concerned has appealed this decision to the Social Welfare Appeals Office on 17th April and submitted further medical evidence which will be reviewed by a deciding officer. If the decision remains unchanged following this review a submission will be prepared and the file and papers will be forwarded to the Social Welfare Appeals Office for determination.
109. Deputy Willie Penrose asked the Tánaiste and Minister for Social Protection if she will take steps to ensure that legislative changes are introduced in order to emphasise employer responsibility for pension schemes, and that it is the employer who should fund future pension protection schemes, as is the case in other European Union countries; and if she will make a statement on the matter. [16842/15]
View answerSection 121 of Pensions Act requires employers who are not operating a pension scheme or who are operating a scheme which limits eligibility for membership to provide access to a Personal Retirement Savings Account.
Defined benefit pension schemes in Ireland are set up and maintained by employers on a voluntary basis. There has never been a statutory obligation on employers under Irish law to contribute to their pension scheme. Rather, when a DB scheme is set up, the level of employer and employee contributions is agreed and established in contract in each schemes Trust Deeds and Rules. The Trust Deeds and Rules differ from scheme to scheme, and as with any contractual situation, reflect the parameters on the level of obligation of the parties involved.
The trustees of a pension scheme are required under the Pensions Act, to maintain sufficient assets in a defined benefit pension scheme to meet the liabilities of the scheme in the event of the wind up of a scheme. Where a scheme fails to meet this requirement, the trustees of the scheme are required to submit a proposal to the Pensions Authority setting out how it is proposed to restore funding to the level required.
The imposition of a debt on an employer or the provision of a pension protection fund has been considered in the context of measures introduced in recent years to support employers and the trustees of defined benefit pension schemes respond to the funding challenges facing many schemes. However, given the uncertainties as to the overall impact and potential for unintended consequences of applying debt on the employer selectively or otherwise, having regard to the small size of the defined benefit sector, and given the administrative complexities and costs associated with a pension protection fund, these measures were not progressed. I am satisfied that the measures put in place in recent years take an approach which will support schemes with funding difficulties to gradually move to more sustainable funding position.
I must acknowledge that employers have, by and large, made great efforts to support and deliver on the pension promise made to scheme members. As you aware, this process is generally managed through dialogue between trustees, employers and members, where efforts are made to reach agreement regarding the steps that must be taken to secure scheme viability. These may include a mix of measures such as increased employer/member contributions, longer working or a restructuring of scheme benefits.
110. Deputy Michael McGrath asked the Tánaiste and Minister for Social Protection the implications for serving and retired public servants, under the aegis of her Department, of the single euro payments area payments clearing and settlement system being closed on 1 May 2015; if arrangements are being made to ensure that persons receive their entitlements on the due date; and if she will make a statement on the matter. [17197/15]
View answerThe European Banking Association clearing system and the Target Settlement system are closed on Friday 1 May. This means that no payments with a value date for Friday 1 May can be made through that system to Euro area bank accounts. In view of this, staff salary payments due on Friday 1 May have been brought forward to Thursday 30 April.
111. Deputy Dessie Ellis asked the Minister for Finance the position regarding temporary exemption from the local property tax in respect of a person (details supplied) in County Dublin; and if he will make a statement on the matter. [16319/15]
View answerI have previously dealt with this particular case in Parliamentary Question 12948 of 2015.
As previously stated, Revenue has an obligation to act in accordance with section 10A of the Finance (Local Property Tax) Act 2012 (as amended) which requires that a Local Property Tax (LPT) exemption can only apply to properties that have been certified under Regulations made by the Minister for the Environment, Community and Local Government as having 'significant pyritic damage' (S.I. No. 147 of 2013). This is the only type of certification that is relevant and Revenue has no discretion in regard to the requirement to produce it as proof of the existence of the appropriate levels of pyrite damage.
These requirements may change in the future on foot of a review that is currently under way in regard to the statutory requirement for certification of pyrite damage as part of the exemption criteria.
I also previously advised that property owners who cannot benefit from a pyrite related exemption should take account of pyrite on the market value of their properties for the purpose of calculating their appropriate LPT Valuation Band.
In regard to the specific case in question, Revenue has advised me that there have been ongoing discussions between the person in question and the LPT team and that agreement has been reached in regard to the correct Valuation Band for the person's property having due regard to the pyrite issue. The person's record has now been adjusted to reflect the reduced Valuation Band
Revenue has also confirmed that debt collection/enforcement action has been delayed to allow the person fully consider the various payment options that are available to him to meet the reduced liability.
Finally, I am assured that the person is fully satisfied with the outcome of his discussions with the LPT team.
112. Deputy Michael Lowry asked the Minister for Finance his plans to offer further support to those suffering from the current debt and mortgage crisis. [16619/15]
View answerI understand that my colleague, the Tánaiste and Minister for Social Protection, Ms. Joan Burton, TD will separately address the part of the question that relates to the Money Advice and Budgeting Service as funding for the service falls into her area of functional responsibility.
As the Deputy is aware, the Government has put in place a broad strategy to address the problem of mortgage arrears and family home repossessions.
This has included an extensive suite of interventions designed to address the problem including specific Central Bank targets for the banks through the Mortgage Arrears Resolution Targets (MART), the Code of Conduct on Mortgage Arrears, extensive recasting of the personal insolvency legislation, the provision of advice through Department of Social Protection-led initiatives and the mortgage to rent scheme which is designed to assist borrowers in an unsustainable mortgage position to remain in their homes through the involvement of social housing agencies.
The effective management of the mortgage arrears issue is, however, an area that remains under continuous review. More and concerted action can be undertaken by the banks to assist customers in arrears and, as the Taoiseach has previously announced, my Department is considering a range of options to support the existing framework and to improve the uptake of personal insolvency solutions.
113. Deputy Clare Daly asked the Minister for Finance if he finds a conflict between the two roles now performed by an assistant secretary within the Revenue Commissioners office, one being a solicitor in the solicitors division and the other being the head of the investigations and prosecutions division; his views that the independence of the Office of the Director of Public Prosecutions, under which the Revenue Commissioners solicitors division works as an agent of the Director of Public Prosecutions Act 1974, has been compromised. [16648/15]
View answerI am advised by the Revenue Commissioners that no conflict of interest arises as a result of the roles performed by an Assistant Secretary within the Revenue Commissioner's Office, one being the Revenue Solicitor/Assistant Secretary in the Revenue Solicitor's Division and the other being the Assistant Secretary and Head of the Investigations and Prosecutions Division. The Revenue Commissioners may assign responsibility in respect of functions in accordance with Section 9 of the Public Service Management Act, 1997. There is no compromise of the independence of the Director of Public Prosecutions (DPP).
The Board of the Revenue Commissioners are independent in the management of Revenue and are extremely careful in ensuring proper governance and oversight of their compliance programmes including in relation to investigations and prosecutions. I have no concerns about their governance arrangements in this area, and Revenue have provided the following additional background details for the Deputy.
The Revenue Solicitor's Division provides legal services for the Revenue Commissioners in a range of matters including the conduct of tax, customs, and general litigation before the Courts (in which the Division is generally named as the solicitor on record) and the Appeal Commissioners and other administrative tribunals, as well as providing legal advice on strategic and operational matters for Revenue.
The Investigations and Prosecutions Division is responsible for leading Revenue's criminal investigation function but in addition oversees the national investigation functions including national and international initiatives aimed at cross border fraud, drug smuggling and diversion of taxable goods, management of the intelligence function and the oversight of the Offshore Assets Group and other large scale evasion programmes.
The preparation of the cases for prosecution of summary offences is managed by the Prosecutions and Seizures Unit of the Border, Midlands and West (BMW) Division in Bridgend, Co. Donegal. That Division is under the management of the Assistant Secretary for the BMW Region. The Revenue Solicitor/Assistant Secretary is responsible for the Revenue Solicitor's Division and the Investigations and Prosecutions Division and has no role in the management of the Prosecutions and Seizures Unit of BMW Division.
The offences which are investigated by the Investigations and Prosecutions Division are indictable offences. An investigation is only commenced once it has been accepted as suitable for investigation by the Revenue Prosecution Admissions Committee. The Assistant Secretary for the Investigations and Prosecutions Division is not a member of that Committee.
The Revenue Solicitor's Division may advise the Investigations and Prosecutions Division on the sufficiency of evidence and the appropriateness of charges in individual cases. Once the Investigations and Prosecutions Division has undertaken its investigation, the cases are transferred to the Revenue Solicitor's Division for preparation for potential onward transmission to the DPP. It is the DPP that decides on whether there should be a prosecution or not based on the file sent to it by the Revenue Solicitor's Division. The DPP is an independent office. The internal management of Revenue functions does not affect that independence.
114. Deputy Peadar Tóibín asked the Minister for Finance if it is legal for Bank of Scotland to sell the debt of a person (details supplied) in County Meath to a company, in view of the fact that the company was only formed on 2 December 2014. [16335/15]
View answerI am not in a position to give legal advice to individuals. My role as Minister for Finance is to put in place an appropriate legislative framework for the regulation of the financial services sector.
The Consumer Protection (Regulation of Credit Servicing Firms) Bill 2015 will deal with situations where loan books are sold. The Bill will require entities dealing with the consumer to be authorised by the Central Bank and subject to its Codes of Conduct. Dealing with the consumer is credit servicing and the definition of credit servicing is broad. Owners of loan books who deal directly with consumers, that is, who are servicing their own loan books, will be regulated. Otherwise they can have the loan book serviced by a regulated credit servicing firm.The Bill was published in January and second stage of the Bill was taken in the Dáil on 4 February. Since then, my officials have been in contact with the Central Bank and with the Office of the Attorney General to further progress the legislation. The Bill will continue its progress through the legislative process and I look forward to further discussion of the Bill at Committee Stage.
115. Deputy Robert Dowds asked the Minister for Finance the current rate of deposit interest retention tax; the amount collected in the past three financial years; his plans to alter the operation of the tax; and the exemptions that are available to the tax. [16346/15]
View answerThe legislation governing the operation of appropriate tax on interest earned on deposits held in the State, referred to as Deposit Interest Retention Tax (DIRT), is set out in Chapters 4 and 5 of Part 8 of the Taxes Consolidation Act 1997.
The current rate of DIRT is 41%. DIRT has been charged at 41% from the 1st January 2014 and is deducted at source by deposit takers (e.g. banks, building societies, credit unions, Post Office Savings Bank, etc.) from interest paid or credited on deposits of Irish residents.
The net yield from DIRT collected in the past three financial years amounts to €1,516.8 million. This comprises €436.7 million in 2014, €499.5 million in 2013 and €580.6 million in 2012.
While all tax policies are continually open to review, it is not customary for the Minister for Finance to comment in advance on issues that are appropriate for consideration in the context of the Budget.
Interest is exempted from DIRT mainly in the following circumstances:
Individuals aged 65 or older
An account held by an individual where the individual or his or her spouse or civil partner is aged 65 or older, and his or her total income in a year (including interest earned) is below the annual exemption limit, is exempt from DIRT.
The annual exemption limits for 2015 are €18,000 in the case of a single person and €36,000 in the case of a married couple or civil partnership.
Permanently Incapacitated Individuals
An account held by an individual or his or her spouse or civil partner is exempt from DIRT where they are:
1. permanently incapacitated by reason of physical or mental infirmity from maintaining himself or herself and
2. not liable to pay income tax because of the level of his or her income.
Medium and Long Term Deposits
Prior to the enactment of the Finance (No.2) Act of 2013 a portion of interest earnings on all medium and long term deposits was exempted from DIRT in accordance with s. 261A of the Act. For this purpose medium term deposits are defined as deposits which are held by a deposit taker for a minimum of three years and long term deposits are those held for a minimum of five years. These provisions continue to apply to medium and long term deposit accounts opened prior to 16 October 2013 for a duration of three and five years respectively from that date.
Companies, Pension Funds and Charities
DIRT is not deducted from interest paid on deposits held by companies, approved pension funds or exempt charities.
Non-Resident Account Holders
Deposit accounts where all of the interest on the deposit is beneficially owned by a person or persons resident outside the State are exempt from the application of DIRT.
Refund of DIRT to first-time buyers
The Finance Act 2014 inserted a new section, Section 266A, into the Taxes Consolidation Act (TCA) 1997. Section 266A provides for a repayment of DIRT on certain savings held by a qualifying first time purchaser prior to the purchase of a home, where that purchase is made between 14 October 2014 and 31 December 2017.
116. Deputy Joe Carey asked the Minister for Finance his plans to extend the qualification criteria to benefit from the home renovation scheme for those sons and daughters or family members that may wish to provide enhanced living accommodation for elderly parents who cannot avail of the tax credit, in view of the fact that departmental grants for housing aid for older people, as administered by local authorities, are now so limited; and if he will make a statement on the matter. [16353/15]
View answerAs the Deputy will be aware, the Home Renovation Incentive (HRI) was introduced in Budget 2014 and will run until the end of December this year. The incentive provides tax relief for homeowners by way of a tax credit at 13.5% of qualifying expenditure incurred on repair, renovation or improvement work carried out on a principal private residence. In the recent Budget I extended the scheme to include rental properties, whose owners are subject to income tax.
Qualifying expenditure is expenditure subject to the 13.5% VAT rate. The work must cost a minimum of €4,405 (exclusive of VAT) which would attract a credit of €595. Where the cost of the work exceeds €30,000 (exclusive of VAT) a maximum credit of €4,050 will apply. The credit is payable over the two years following the year in which the work is carried out.
The tax credit is only available to the homeowner and not to children or other individuals who may fund the works. However, as the Deputy has mentioned, a Housing Adaptation Grant for People with a Disability is available from local authorities. This scheme provides grant aid to applicants to assist in the carrying out of works that are reasonably necessary for the purposes of rendering a house more suitable for the accommodation needs of a person with a disability. The grant can assist with changes and adaptations to a home such as making it wheelchair accessible, extending it to create more space, adding a ground floor bathroom or toilet or installing a stair lift. This grant, which is means tested, can cover up to 95% of the cost of works carried out, which is far more generous than the relief available under the Home Renovation Incentive.
Works which are grant-aided also qualify for the Home Renovation Incentive. Three times the value of the grant is deducted from overall expenditure, with any remainder attracting the tax credit of 13.5%. This is to align with best fiscal practice in that relief is not provided twice for the same expenditure. It is worth noting that the deduction in respect of grant-aided work is not taken into consideration for the purposes of reaching the minimum spend threshold of €4,405, excluding VAT.
My understanding is that applications for housing adaptation grants from local authorities are prioritised based on medical need. Therefore the grant scheme is highly targeted.
Given the existing supports available, particularly for those on low incomes, through their access to the grant scheme, I am not predisposed to expanding the tax relief available under HRI for works that are funded by family members.
117. Deputy Jerry Buttimer asked the Minister for Finance regarding the regulation of mortgage providers and section 126 of the Consumer Credit Act 1995, where a person cannot get life insurance cover, the options that are available in order for that person to obtain a mortgage for a principal private residence; in such circumstances, the obligations that are in place requiring providers of mortgages to offer a mortgage to such a person; and if he will make a statement on the matter. [16400/15]
View answerI am informed by the Central Bank that section 126 of the Consumer Credit Act 1995 (as amended) (the CCA) relates to the requirements on lenders and borrowers in relation to mortgage protection insurance. Lenders are obliged by virtue of Section 126 of the CCA to ensure that a life assurance policy is in place before making a housing loan, such that, in the event of the death of a borrower before the housing loan has been repaid, a sum equal to the amount of the principal estimated by the mortgage lender to be outstanding in the year in which the death occurs, on the basis that payments have been made by the borrower in accordance with the mortgage, is paid in repayment of the principal.
Section 126(2) of the CCA sets out the circumstances in which a lender may waive the requirement for a borrower to hold mortgage protection insurance, as follows:
(a.) where the house in respect of which the loan is made is, in the mortgage lender's opinion, not intended for use as the principal residence of the borrower or of his dependants;
(b.) loans to persons who belong to a class of persons which would not be acceptable to an insurer, or which would only be acceptable to an insurer at a premium significantly higher than that payable by borrowers generally;
(c.) loans to persons who are over 50 years of age at the time the loan is approved; and
(d.) loans to persons who, at the time the loan is made, have otherwise arranged life assurance, providing for payment of a sum, in the event of death, of not less than the sum referred to above.
Where a person falls within category 126(2)(b) and cannot therefore get life assurance cover, the lender is not obliged to ensure that life assurance cover is in place in respect of the housing loan.
However, even where one of the exceptions applies, there is nothing to prevent a lender from requiring that life assurance of the kind referred to in Section 126 of the CCA is put in place as part of its lending conditions. There is no obligation on a lender to provide credit to any borrower, this being a commercial decision of the lender.
Where a consumer is unhappy with the service they have received from a firm which is regulated by the Central Bank, they are entitled to make a complaint.
Subject to the exclusions set out in Central Bank's Consumer Protection Code 2012 (the Code), the Code applies to the regulated activities of regulated entities operating in the State.
Chapter 10 of the Code sets out the procedures and timelines for regulated firms dealing with customer complaints. In the first instance a customer must submit a complaint to a credit institution. If the complaint is not resolved to their satisfaction, it can then be escalated to the Financial Services Ombudsman.
118. Deputy Tony McLoughlin asked the Minister for Finance the position regarding the eligibility of a fodder unit for special treatment under capital allowances tax; and if he will make a statement on the matter. [16457/15]
View answerI am advised by the Revenue Commissioners that there is no special regime of capital allowances for fodder units. An annual allowance (known as a 'wear and tear allowance') is available for capital expenditure incurred on the provision of plant and machinery for the purposes of a trade. Therefore, capital expenditure incurred on the provision of a fodder unit for the purposes of a trade would qualify for wear and tear allowances at a rate of 12.5 per cent per annum over 8 years.
119. Deputy Dara Calleary asked the Minister for Finance his views that a €30 stamp duty charge on the cancellation of debit and credit cards is excessive; his plans to abolish the charge; and if he will make a statement on the matter. [16549/15]
View answerThe stamp duty payable is €30 per year per credit card account. Where a credit card is held for any part of a year, the charge is still €30.
Stamp duty of €30 is chargeable in respect of each credit card account, maintained by a financial institution at any time during the twelve month period ending on 1 April, referred to as the year of charge. Stamp duty is charged to the account on 1 April, in arrears, unless the account is closed during the year.
If the account is closed during a year and the card is cancelled this will result in the €30 charge to stamp duty being incurred as the charge is in respect of an account that has been maintained during part of the year of charge. The charge is not a cancellation charge; the charge simply falls due on cancellation - rather than on the following 1 April where the account is held for a full year
Moving to a new Financial Institution
If the account holder is moving his or her account to a new financial institution he or she will not have to pay the stamp duty twice as a letter of closure will be provided by the first financial institution on payment of the stamp duty. This letter should be presented to the second financial institution and the new account with that second financial institution will not be charged stamp duty on the following 1 April.
Stamp Duty on ATM/Debit/Combined Cards
How much is the duty?
€2.50 per year per ATM card (also known as cash card)
€2.50 per year per debit (Laser) card
€5 per combined (ATM & debit) card
When is the stamp duty collected from the account holder?
Stamp duty is collected in arrears for the year of charge which coincides with the calendar year. For example, the stamp duty arising in the calendar year 2015 will be charged to the account on 31 December 2015. Stamp duty will only be charged if the card is valid on 31 December of the year of charge. Normally a charge to stamp duty does not arise on cancellation of an ATM/debit/combined card.
While all tax policies are continually open to review, it is not appropriate for the Minister for Finance to comment in advance on issues that are appropriate for consideration in the context of the Budget.
120. Deputy Shane Ross asked the Minister for Finance the way he plans to exercise his proxy votes, or the way he exercised them if already cast, as a shareholder on behalf of the Irish people in both Bank of Ireland and Allied Irish Banks resolutions, to be decided at their annual general meetings; and if he will provide the way he has cast the votes in each resolution individually. [16622/15]
View answerI can confirm for the Deputy that in my capacity as Minister for Finance, I have directed the ISIF as holder of the State's bank shareholdings to vote on each of the resolutions to be put to the AGMs of both Allied Irish Banks and Bank of Ireland. However, it would not be appropriate for me to comment on how I have voted until these AGMs take place and the results of the voting process is announced.
121. Deputy Robert Troy asked the Minister for Finance when persons who are affected by the Permanent TSB court ruling on tracker mortgages will receive notification of any reimbursements or change to their mortgage circumstances. [16633/15]
View answerI have been informed by Permanent TSB that this relates to the situation of certain mortgage customers of the bank and their right to avail of a mortgage tracker product, from the bank, in circumstances where they broke early from a fixed rate tracker period.
Earlier this year the bank confirmed that it would be withdrawing appeals it had submitted to the Supreme Court in respect of High Court decisions involving specific customers who pursued and had their complaints on this matter upheld by the Financial Services Ombudsman.
Permanent TSB is now implementing the decisions of the Financial Services Ombudsman and is in correspondence with the affected parties. The bank has also confirmed that it is under an Enforcement Investigation by the Central Bank of Ireland in respect of this matter.
I understand that the bank is now undertaking a comprehensive programme to identify all customers in similar positions (i.e. mortgage customers who had a fixed rate product which included a right to move to a tracker rate at the end of the agreed fixed rate term but who lost that right because they broke from the fixed rate early) with a view to ensuring that impacted customers are informed in writing and offered redress including the offer to move to a tracker mortgage, where appropriate.
As this is subject to an ongoing Enforcement investigation it is not appropriate to comment further at this time.
122. Deputy Catherine Murphy asked the Minister for Finance the reason documents released to this Deputy, under the Freedom of Information Acts, concerning the sale of a company (details supplied) were so heavily redacted; if he will provide a page by page justification for each redaction; and if he will make a statement on the matter. [16654/15]
View answerI believe the Deputy is referring to documents released under a Freedom of Information Act request made by another member of the public for correspondence, reports and memos regarding the company referred to in the question, which were made available to the Deputy in fulfilment of my commitment to do so in response to Parliamentary Question number 12628/15.
There were various reasons that the documents released under that particular FOI request were redacted. The reason supporting the vast majority of redactions in this instance was that the redacted information was not relevant to the request which had asked specifically for information relating to the sale of Siteserv. Other reasons for redaction as set out by the deciding officer, included that information contained in the records was obtained in confidence and that some records contained commercially sensitive information. I believe my officials have provided you with a copy of this original FOI request, setting out the original question asked and the schedule to the documents released which includes the basis for their refusal by the deciding officer in line with the FOI Act 2014.
As the Deputy is aware, these documents, along with others, have since been released under a subsequent FOI request which posed a broader question. This FOI request asked for documents relating to meetings held with IBRC and was not specific to the company referred to in the question. As a result, the documents released under this request are less redacted as more material is relevant to the question. The documents released under this request, including the schedule of documents and the reason for any refusal or redaction, are available on the Department of Finance website through the following link: http://www.finance.gov.ie/news-centre/press-releases/ibrc-foi-documents.
