Tuesday, 23 Jun 2015

Written Answers Nos. 200-218

Social Welfare Payments Administration

Questions (200)

Pearse Doherty

Question:

200. Deputy Pearse Doherty asked the Tánaiste and Minister for Social Protection her plans, to cease with immediate effect, the practice of issuing letters to welfare recipients, in which they are encouraged to have their payments made directly to a current, deposit or savings account in either a bank or a financial institution; if she is aware that such a practice is detrimental to the survival of the post office network; her plans to retract the information contained in these forms; and if she will make a statement on the matter. [25063/15]

Written answers

Tánaiste and Minister for Social Protection

I am aware of the concerns that have been raised in relation to the letters that issued from my Department.

The letters, which were issued to a small number of customers in receipt of State Pension Contributory and Non Contributory, were a trial to determine the best means of communicating with people about their payment options. Customer engagement was entirely voluntary with no negative consequences for customers who chose not to respond or engage. Customers can ignore the letter and continue to be paid in the manner they are currently receiving their payment if they so wish. All existing payment options remain in place as heretofore. The Department has no plans to issue further letters at this stage.

Increasing the scale by which State payments are delivered directly into a client account is a key objective of a number of Government policies. These include the National Payments Plan, the Department’s Payment Strategy, the Public Sector Reform Plan, the e-Government Strategy and other government policies. These policies support improved customer service, reflect consumer trends and preferences and can deliver administrative savings.

The Government has consistently stated its commitment to maintaining the post office network as set out in the Programme for Government. It is Government policy that An Post remains a strong and viable company in a position to provide a high quality postal service and maintain a nationwide customer focused network of post offices in the community. The Department’s support for An Post is equally apparent. We anticipate this year that we will pay over €50 million to An Post under a contract for the cash payment services to welfare customers.

Social Welfare Fraud Investigations

Questions (201, 202, 203)

Michael McGrath

Question:

201. Deputy Michael McGrath asked the Tánaiste and Minister for Social Protection the amount recovered through Operation DIRT (Deposit Interest Retention Tax) in 2013 and 2014; the total amount recovered by the operation since its inception; her views on the implementation of the operation to date; and if she will make a statement on the matter. [25064/15]

Michael McGrath

Question:

202. Deputy Michael McGrath asked the Tánaiste and Minister for Social Protection the top ten individual amounts recovered from social protection claimants through Operation DIRT (Deposit Interest Retention Tax) in 2014; the aggregate amount in their bank accounts; when those persons first made incorrect declarations to her Department; and if she will make a statement on the matter. [25065/15]

Michael McGrath

Question:

203. Deputy Michael McGrath asked the Tánaiste and Minister for Social Protection the top ten amounts in the bank accounts of persons who have made repayments to her Department as a result of Operation DIRT (Deposit Interest Retention Tax) since it commenced; and if she will make a statement on the matter. [25066/15]

Written answers

Tánaiste and Minister for Social Protection

I propose to take Questions Nos. 201 to 203, inclusive, together.

The legislative provisions providing for the sharing of data for the purpose of fraud and control of social welfare schemes are contained in section 261 of the Social Welfare Consolidation Act 2005. It provides that information held by another Government Department or a public body which is required for the purposes of the Act or the control of schemes may be transferred to the Department.

In one such exchange, information was provided by Revenue on persons who had paid Deposit Interest Retention Tax (DIRT) and it was clear from the interest received that they had significant amounts of capital invested whilst being in receipt of means-tested social welfare payment. On foot on this data, cases were referred for review where there was a possibility that means from financial savings had not been disclosed.

Over €21 million has been recovered from the operation to date. Details of the amount recovered in 2013 and 2014 are provided in the following table:

Recoveries 2013 and 2014:

1.Total value of recoveries in 2013	€10.3m
2.Total value of these recoveries in 2014	€8.4m

The ten highest individual overpayment amounts recovered in 2014 ranged from approximately €68,500 to just over €140,000.

The other information requested by the Deputy relating to amounts held in individual bank accounts and dates of false declarations on individual cases are not recorded by the Department and, therefore, are not available.

Data sharing by the Department is viewed as an efficient and effective mechanism to target control related activity. It is an important preventative and detection control measure. The Department continues to examine its control practices and to introduce new measures to improve controls, wherever possible. The aim is to reduce or eliminate overpayments arising from customers receiving payments when they are no longer eligible in order to ensure that scarce resources are available to those who need them most.

Social Welfare Payments Administration

Questions (204)

Bernard Durkan

Question:

204. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Social Protection if all arrears for recent public holidays will issue in respect of a person (details supplied) in County Kildare, in view of requested documentation confirming no other payment was received; and if she will make a statement on the matter. [25067/15]

Written answers

Tánaiste and Minister for Social Protection

Following a review of the jobseeker's allowance claim of the person concerned, arrears of payments due for recent bank holidays will issue to the person concerned, and will be included in his payment due on 30/06/2015.

Rent Supplement Scheme Payments

Questions (205)

Bernard Durkan

Question:

205. Deputy Bernard J. Durkan asked the Tánaiste and Minister for Social Protection the reason rent support ceased in the case of a person (details supplied) in County Kildare; if it will be reinstated as a matter of urgency; and if she will make a statement on the matter. [25070/15]

Written answers

Tánaiste and Minister for Social Protection

Due to a change of circumstances of the customer concerned who is now in receipt of Family Income Supplement the Department requested current payslips to reassess eligibility. Payslips have now been received and claim is being reassessed. Once finalised, any payment including arrears will issue.

Community Employment Schemes Operation

Questions (206)

Robert Troy

Question:

206. Deputy Robert Troy asked the Tánaiste and Minister for Social Protection the level of negotiations her Department has held with the Services, Industrial, Professional and Technical Union regarding community employment supervisors' pensions, and her strategy to bring these conclusions to a satisfactory conclusion without delay. [25074/15]

Written answers

Minister of State at the Department of Social Protection

Discussions at the invitation of SIPTU and Impact, which took place earlier this year, were conducted with the Department’s CE Policy Unit.

The Deputy will be aware that CE supervisors are the employees of private companies. In the circumstances, it is not possible for the State to take over responsibility for funding pension arrangements for employees of private companies, even where those companies are reliant on State funding. This position was confirmed by the Department of Public Expenditure and Reform (D/PER) to this Department in March of this year.

The D/PER’s position is that private companies contracted by the State to provide a service, including those in the community sector, must manage their expenditure pressures, including labour and pension costs, from within existing funding levels.

It should be noted that the Department of Social Protection is not the employer of CE supervisors and such employees are not public servants. They are employees of limited companies that receive public funding. If this pension claim was to be funded by the State, it would have an impact on pay costs and would result in potential claims from employees of other companies that receive State funding and operate in the community and voluntary sectors.

Community Employment Schemes Operation

Questions (207)

Robert Troy

Question:

207. Deputy Robert Troy asked the Tánaiste and Minister for Social Protection if she considers it appropriate that many supervisors of community employment schemes are working on the same contracts as participants, as this is causing anxiety regarding their job security; and if she will make a statement on the matter. [25075/15]

Written answers

Minister of State at the Department of Social Protection

Since Community Employment (CE) commenced in April 1994, the period for which a CE Sponsor contracts with a supervisor is a matter between the Sponsor as the employer, and the supervisor, as the employee. However, DSP funding is only provided for the duration of the Agreement that DSP has with the Sponsoring organisation which is on an annual basis.

Supervisors (and participants) are excluded from the Section 9 provisions of the Protection of Employees (Fixed-Term Work) Act 2003, as under Section 2 of this Act they are, “employees with a contract of employment which has been concluded within the framework of a specific public or publicly-supported training, integration or vocational retraining programme”. This means that individual CE contracts for supervisors cannot be of indefinite duration. However, as supervisors are not subject to any participation caps, they can be employed by a Sponsor (subject to the satisfaction of the employer) on rolling contracts for as long as funding is available for the supervisor position.

Community Employment Schemes Operation

Questions (208)

Robert Troy

Question:

208. Deputy Robert Troy asked the Tánaiste and Minister for Social Protection if her Department is not the employer of community employment supervisors, the reason it is in a position to issue instructions, targets, and criteria, which must be met. [25076/15]

Written answers

Minister of State at the Department of Social Protection

As the Deputy is aware, the Community Employment (CE) programme is under the remit of the Department of Social Protection (DSP) since the enactment of the Social Welfare (Miscellaneous Provisions) Act 2010.

Under the programme, DSP provides funding for local sponsoring organisations to provide training, upskilling and educational opportunities for jobseekers and other vulnerable groups in the community. This funding is granted under an annually renewable legal agreement/contract between the Sponsoring Organisation and the Department.

Article 1 of the CE Agreement provides that “the Sponsor shall agree to carry out the project only as described in the application submitted and in accordance with the terms and conditions of this agreement as set out above, and in accordance with the conditions and objectives of Community Employment as communicated by the Department of Social Protection from time to time.” This last clause pertains to the CE Procedures Manual issued by the Department and details how CE, as a programme, is to be administered by approved Sponsoring Organisations.

Under Article 3 of the CE Agreement, “The Sponsor shall at all times be an independent contractor for all purposes and the relationship of principal and agent shall not exist between the parties and all persons recruited by the Sponsor shall be their/her/his sole responsibility.” The supervisor and participants are legally in the employment of the local sponsoring organisation. Their contracts of employment list the Sponsor as the employer.

Community Employment Schemes Data

Questions (209)

Robert Troy

Question:

209. Deputy Robert Troy asked the Tánaiste and Minister for Social Protection the savings that community employment schemes are making to the health budget, in view of the number of persons, with both physical and mental disabilities, who are engaged on the schemes that provide rehabilitation. [25077/15]

Written answers

Minister of State at the Department of Social Protection

The savings to the health budget attributable to services provided by Community Employment (CE) schemes is a matter for the Department of Health.

There are approximately 2,650 health and social care places currently on CE as at the end of May 2015. These CE places are filled by persons on jobseeker's allowance, one-parent family payment and persons on a disability-related payment e.g. disability allowance and invalidity pension.

Water Conservation Grant

Questions (210)

Maureen O'Sullivan

Question:

210. Deputy Maureen O'Sullivan asked the Tánaiste and Minister for Social Protection if she will provide a free phone number to facilitate the conservation grant in relation to Irish Water; her views that many elderly persons who are not familiar with online activity should be catered for, as there is confusion over how to obtain this grant; and if she will make a statement on the matter. [25097/15]

Written answers

Tánaiste and Minister for Social Protection

The Water Conservation Grant has been introduced to support households in conserving water in the home. It is being administered by the Department of Social Protection on behalf of the Department of the Environment, Community and Local Government. In order to be eligible to apply for the grant a person must have registered his/her principal, private residence with Irish Water on or before the 30th June 2015. This Department will write to registered persons in late August or September advising them how to apply for the grant.

The application process is an on-line one and will be available from late August 2015. People who do not have internet access or who require assistance in making their application may phone the Water Conservation Support Team who can either assist with the application or complete the application on behalf of the customer.

There will be two phone numbers for the Water Conservation Support Team – a 0761 number that is charged at the same rate as a national landline numbers from landlines and mobile phones, and a LoCall number. The 0761 number is being offered to ensure that the call is treated the same as any normal landline number for charging purposes by telecoms providers. LoCall numbers have been in operation across the Department’s scheme areas for many years and are used with Interactive Voice Response technology to facilitate customers making contact with the appropriate section of the Department, at a low cost to the caller.

Question No. 211 withdrawn.

IMF Loan

Questions (212)

Micheál Martin

Question:

212. Deputy Micheál Martin asked the Minister for Finance his views that the Greek Government may reject the creditors, thereby creating a default; and if he will make a statement on the matter. [24563/15]

Written answers

Minister for Finance

Following circulation of an aide-mémoire and a list of Prior Actions to the Greek authorities in the first week of June and a subsequent meeting between Prime Minister Tsipras, European Commission President Juncker and Eurogroup President Dijsselbloem to discuss the proposal, it seemed like both sides were moving closer together.

However following submission of Greek counter proposals on the 12th June it was clear that there had been a complete rowing back on the Greek side.

Attempts at a technical level to make progress concluded with no agreement.

As a result, an additional Eurogroup meeting and Informal Euro Summit were called on 22 June 2015 in Brussels. The purpose of these meetings was to exchange views on Greece and clarify the positions and the situation in the ongoing talks between the Greek authorities and the Institutions. 

A revised list of counter proposals was submitted by the Greek authorities yesterday leaving no time to assess them prior to the meetings. The Greek authorities will now work with the Institutions to agree a comprehensive list of reforms and a list of prior actions by tomorrow that can be presented to the Eurogroup.

The euro area has an obligation to Greece in these difficult times but Greece has an obligation to itself, it needs to reform the economy and return it to sustainable growth.

Ireland, together with the other Member States, understands and empathises with the difficult situation faced by the Greek people. This is why there has been a willingness to negotiate a way forward which takes account of the realities of the situation in Greece and the political priorities of its new Government, while also respecting existing commitments.

Even at this very late stage, there is still time for a deal to be agreed - but Greece must put reasonable proposals on the table. It is still in everyone's interest that agreement is reached. We have already seen backtracking on previous reforms and this is unacceptable. The Member States and institutions are working in good faith - Greece must do so also.

The situation of Greece's finances is very challenging with immediate financing needs to be addressed. In addition, deposit outflows have continued from the banking system. Therefore, urgent agreement on the necessary structural reforms is imperative to conclude the 5th review and release the associated disbursements.

Direct trade and financial linkage between Ireland and Greece are small, therefore the risk to the Irish economy are second round in nature. If turbulence in Greece results in a slowdown in the EU economy then this could have a knock effect on the Irish economy given our openness to trade.

As a Union, we are now in a much better place than when the crisis hit. In recent months, financial markets in Greece have been adversely affected through declines in the stock market, capital outflows and increases in bond yields, although markets appear to be treating Greece as an outlier rather than a source of contagion. This is encouraging and suggests the firewalls created and the governance changes made during the crisis appear to be having the desired effect.

Vehicle Registration

Questions (213)

Michael Healy-Rae

Question:

213. Deputy Michael Healy-Rae asked the Minister for Finance if he will address a matter (details supplied) regarding vehicle registration plates; and if he will make a statement on the matter. [24565/15]

Written answers

Minister for Finance

I am informed by the Revenue Commissioners that when a registration number is assigned to a vehicle it remains with that vehicle until the vehicle's end-of-life or export under the Export Repayment Scheme. In the example provided in the details supplied, the registration number could be resurrected but could only be used on the vehicle to which it had originally been assigned (for example, where a vehicle was taken out of the State and is returning). A registration number previously assigned to one vehicle cannot be transferred to or re-used on a different vehicle.

Housing Issues

Questions (214)

Barry Cowen

Question:

214. Deputy Barry Cowen asked the Minister for Finance if he will provide details on the review undertaken by his Department, of barriers to housing mobility, and the recommendations that were delivered to the Government on same, as promised in the Construction 2020 document, to be delivered by Quarter 2, 2014. [24685/15]

Written answers

Minister for Finance

Construction 2020 set out seventy five action points across a wide range of Government Departments, public bodies and other interested parties that seek to provide a functioning and sustainable property and housing sector. One of these, action point number 4, asked that the barriers to housing mobility be examined and recommendations made. In line with the timescale set out, a report on the barriers to housing mobility was prepared and, in accordance with their co-ordination requirements for the overall strategy, this was submitted to the Department of An Taoiseach. The identified key barriers affecting housing mobility were weak consumer confidence, high levels of unemployment, build-up of unsold stock, supply constraints in the greater Dublin area and other urban centres, negative equity, mortgage arrears and tracker mortgages.

A key conclusion was that market mobility should improve as the wider economy recovers and that this would have a positive effect on some of the main housing mobility barriers that were identified. In that regard, although there continues to be a need for caution and for the maintenance of sound overall economic policies, there have been some positive developments. In particular unemployment has fallen from 11.7% in May 2014 to 9.8% in May 2015 and the amount of new mortgage credit issued in Q1 2015 was €983 million compared to €568 million in Q1 2014. It was also recommended that key data in this area should continue to be monitored and should, where appropriate, form part of the rationale for policy proposals to implement Construction 2020.

Small and Medium Enterprises Supports

Questions (215)

Dara Calleary

Question:

215. Deputy Dara Calleary asked the Minister for Finance his views on the potential of the EU capital markets union to enable small and medium sized enterprises to have increased access to a variety of sources of capital funding; and if he will make a statement on the matter. [24753/15]

Written answers

Minister for Finance

Securing more funding for the real economy is an important objective of the Capital Markets Union (CMU) initiative, which will run from 2015 to 2019. CMU, through a wide ranging series of measures, aims to make EU capital markets more integrated, liquid and competitive.

Its ultimate purpose is to increase resilience of the financial system and provide greater opportunities for SMEs, particularly high growth SMEs, and longer term infrastructure projects.

From an Irish perspective CMU could serve to significantly increase issuer and investor access to more liquid European markets and, in so doing, enable our companies to expand and create employment.

The development of CMU is considered to offer good potential for fast growth SMEs, some of whom have been constrained in recent years due to lack of funding from traditional funding sources. Ireland's particular focus will be on what the Capital Markets Union can do for SMEs and for smaller markets.

In its green paper on the Capital Markets Union, the Commission identified a number of goals which it feels should be prioritised in the short term. These include bringing forward a proposal on "Simple, Transparent and Standardised Securitisation" and a review of the Prospectus Directive. The Department supports these short term priorities of the CMU initiative as they have the potential to benefit SMEs directly and indirectly.

A potential benefit to revitalising securitisation markets is that it may free up bank balance sheets to enable more lending to SMEs.

A review of the Prospectus Directive has the potential to encourage smaller issuances by establishing more proportionate rules.

One of the key priorities of the CMU project is to develop alternative modes of funding. A number of initiatives have been suggested including:

- Crowd-funding, which offers good potential to make a meaningful contribution to the financing needs of SMEs. We would support the EU playing a role to develop this sector, for example in conducting research on best practice. We believe that enhancing the potential contribution of crowd-funding would complement the range of measures already undertaken at a domestic level aimed at supporting SMEs.

- Developing the quality of SME credit information has the potential to further the funding opportunities available to SMEs. If SMEs are to become attractive propostions to investors it is necessary that there is good quality and comparable information available on them and I welcome the signal in the European Commission's Green Paper that there will be something done in this area. 

- SME growth markets provide a valuable platform for SMEs to source funding as the administrative demands and costs are far lower than they would be for admission to trading on a regulated market.

The Commission is scheduled to publish an action plan in September 2015 in which it will set out the legislative proposals or market led initiatives it intends to pursue in the short and long term to advance the CMU initiative. The Government will continue in its active engagement as these proposals take shape, to ensure that the interests of SMEs remain embedded within the CMU initiative.

Startup Funding

Questions (216)

Michelle Mulherin

Question:

216. Deputy Michelle Mulherin asked the Minister for Finance the different types of professional service companies that are excluded from being qualified trading activities in the startup relief for entrepreneurs scheme; and if he will make a statement on the matter. [24780/15]

Written answers

Minister for Finance

The legislation governing the operation of the Startup Refunds for Entrepreneurs (SURE) scheme, formerly known as the Seed Capital Scheme, is set out in Part 16 of the Taxes Consolidation Act 1997 (the Act). The scheme provides for a repayment of income tax paid in certain circumstances to individuals who cease full time employment, or who are unemployed, and invest in the start up of a new company engaged in relevant trading activities.

The definition of what is considered "relevant trading activities" is contained in Section 488 of the Act. This definition excludes a "close company" (essentially a company controlled by 5 participators or less) where such a close company is regarded as a service company under the provisions of section 441 of the Act.  

Section 441 of the Act defines a service company as including close companies where the principal part of the company's income is derived from:

- the carrying on directly of a profession;

- the provision of professional services;

or a company

- which has, or exercises, an office or employment.

Also included are:

- the provision of services or facilities to such companies, or

- the provision of services or facilities to an individual or partnership carrying on a profession.

However this latter category does not include cases where the services or facilities are provided for persons not connected with the company.

As the Taxes Acts do not define "profession" it must be given its ordinary meaning in accordance with the general principles of statutory construction. Case law has provided that the term 'profession' involves an occupation requiring either intellectual skill, as in sculpture or surgery, or a skill controlled by the intellectual ability of the operator.

The Revenue Commissioners have issued guidance on what is considered to be a Professional Service in Tax Briefing No. 48. In that briefing Revenue specifically list the following activities as falling within the definition of professional services:-

Accountant

Actor

Actuary

Archaeologist

Architect

Auctioneer/Estate Agent

Barrister

Computer programmer

Dentist

Doctor

Engineer

Journalist

Management Consultant

Optician

Private School

Quantity Surveyor

Solicitor

Veterinary Surgeon.

While the above are considered to be providing professional services, the list is not intended to be an exhaustive list of all possible professions. Each case should be examined with regard to its own particular facts.

Full details on the scheme are available on www.sure.gov.ie.

Startup Funding

Questions (217)

Seamus Kirk

Question:

217. Deputy Seamus Kirk asked the Minister for Finance if he will provide a definition of a first time entrepreneur for the purposes of the startup relief for entrepreneurship scheme; and if he will make a statement on the matter. [24984/15]

Written answers

Minister for Finance

The legislation governing the operation of the Startup Refunds for Entrepreneurs (SURE) scheme, formerly known as the Seed Capital Scheme, is set out in Part 16 of the Taxes Consolidation Act 1997 (the Act). The scheme provides for a repayment of income tax paid in certain circumstances to individuals who cease full time employment, or who are unemployed, and invest in the start up of a new company.

There is no definition of "first time entrepreneur" in the Act. However, the criteria to be considered a "specified individual" who may qualify for relief under SURE is contained in Section 495 of the Act.

Under that Section, an individual shall be a specified individual if he or she makes a qualifying SURE investment, i.e. an investment by way of the purchase of shares in a qualifying new business venture, and complies with the other provisions of the section which can be summarised as follows:-

The individual's income in the three years prior to the year preceding the year in which the SURE investment is made must have come primarily from employment sources. Specifically the individual's non-employment income in any of those years cannot exceed the lesser of:

- the aggregate of the individual's employment income, and

- €50,000.

However the individual's income in the year immediately preceding the year in which the SURE investment is made can be from any source.

The individual must enter a full-time employment for a 12 month period with the company either as an employee or a director starting within the year in which the investment is made or, if later, within 6 months of the date on which the share issue is made.

The individual cannot be employed elsewhere during this 12 month period (except where the aggregate amount of such other employment(s) is no more than 10 hours per week).

The individual must hold at least 15% of the issued share capital of the company in which s/he makes the SURE investment for 12 months after the issue of shares, or if the company is not trading at that time, from the date it begins to trade.

The individual must continue to hold his/her shares for a period of 3 years from the date of issue.

The individual must not receive any payments from the company other than reasonable remuneration and expenses in the 3 year period after the share issue.

In the 12 months immediately prior to the SURE investment the individual must not have held (or have been entitled to acquire either directly or indirectly) more than 15% of the share capital, loan capital or voting rights of any other company.

The individual must not be making the SURE investment for the sole purpose of avoiding tax.

Neither the individual nor the company may enter into any agreement, arrangement or understanding which could reasonably be considered to eliminate risk from the SURE investment.

The Deputy may be interested to know that there is a dedicated SURE website www.sure.ie which provides full information on the scheme. The website includes an on-line calculator, developed jointly by the Department of Jobs, Enterprise and Innovation and the Revenue Commissioners, which will assist SURE applicants in estimating the amount of any tax refund they may be able to claim under the provisions of the scheme.

Startup Funding

Questions (218)

Seamus Kirk

Question:

218. Deputy Seamus Kirk asked the Minister for Finance if the startup relief for entrepreneurship scheme will extend to primary food sector industries in the agriculture sector, including pig, poultry, dairy and beef farming; and if he will make a statement on the matter. [24985/15]

Written answers

Minister for Finance

The legislation governing the operation of the Startup Refunds for Entrepreneurs (SURE) scheme, formerly known as the Seed Capital Scheme, is set out in Part 16 of the Taxes Consolidation Act 1997 (the Act). The scheme provides for a repayment of PAYE in certain circumstances to individuals who cease full time employment, or who are unemployed, and invest in the start up of a new company engaged in relevant trading activities.

"Relevant trading activities" are defined in section 488 of the Act as activities carried on in the course of a trade the profits or gains of which are charged to tax under Case I of Schedule D subject to certain exclusions, such as for example, professional services. Investment in a start-up company operating in the primary food sector industries in the agriculture sector, including pig, poultry, dairy and beef farming may currently qualify for SURE, subject to the company meeting the criteria provided for in sections 488 and 494 of the Act.

In this context the company must:

- be a "qualifying new venture". This means that as well as carrying on a qualifying trade it must be a new company i.e. less than two years old (from incorporation), and it must not have taken over an existing trade;

- be incorporated in the State or in another EEA State;

- be an unquoted company;

- be tax resident in the State or in another EEA State and carry on business in the State through a branch or agency;

- carry on relevant trading activities from a fixed place of business in the State;

- be a micro, small or medium-sized enterprise;

- have its issued share capital fully paid up. It should be noted that the share capital must remain fully paid up throughout the three years following investment i.e. all issued shares must be paid for in full; and

- use the amounts invested under the scheme for the creation and maintenance of employment and for the benefit of a qualifying new venture in the carrying on of its trading activities, or in the case of a company that has not commenced to carry on relevant trading activities, on research and development activities.

The company must not:

- have any special trading arrangements with the SURE investors' former employer company, or a company related to that former employer company. Normal business transactions are, however, acceptable, provided these are conducted on an arm's-length basis.

- carry on a trade which is similar to any other trade in respect of which the SURE investor has or has had a controlling interest.

- be considered as a firm in difficulty for the purposes of the Community Guidelines on State aid for rescuing and restructuring firms in difficulty.

- control or be controlled by any other company, with the exception of controlling a qualifying subsidiary.

Further details on the scheme are available on www.sure.gov.ie.