asked the Minister for Finance if he has exercised the powers conferred on him as to the nomination of two directors on the Industrial Trust Company of Ireland, Limited, by sub-section (2) of Section 4 of the Industrial Trust Company of Ireland, Limited (Acquisition of Capital) Act, 1926, and if he can state the names of the directors thus appointed.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - INDUSTRIAL TRUST COMPANY OF IRELAND.
The answer to the first part of the question is in the affirmative. The Minister asked Senator J.G. Douglas, Chairman of the National Land Bank, Ltd., and Mr. Hugh Kennedy, Chairman of the Port Milling Co., Ltd., to represent him on the Board of the Company, and they have agreed to do so.
asked the Minister for Finance if he can state (a) the amount issued from the Central Fund in respect of the purchase of share capital in the Industrial Trust Company of Ireland, Limited; (b) the sums credited to the Exchequer in respect of dividend, bonus or other profit accruing from the acquisition of shares therein; (c) the liabilities, rights and priorities of the Government of the Saorstát in respect of its holding of shares in the event of a winding-up or liquidation of the assets of the company.
The answer to the first part of the question is £50,000, and the answer to the second part is nil. With regard to the third part, the position of the Minister for Finance in the respects mentioned by the Deputy differs in no way from that of any other shareholder, except as regards representation on the Board of Directors.