asked the Minister for Justice whether his attention has been drawn to a newspaper advertisement headed "Premises urgently required in Henry Street or Grafton Street"; whether he considered the announcement that an English firm wished to buy the premises outright and that price or size of the property and business was no object, should be investigated; and, if so, whether such investigation was carried out and with what results; finally, whether it is intended to introduce proposals for legislation to control the purchase of property by non-nationals.
Ceisteanna—Questions. Oral Answers. - Purchase of Property by NonNationals.
I have seen a copy of the advertisement referred to. There is no effective means at my disposal for carrying out such an investigation as the Deputy suggests. Moreover, even if the necessary machinery were available, I would hesitate to employ it in such a case as this. Under the existing law there is no prohibition against the acquisition of property by persons who are not Irish citizens and I am not satisfied that it would be desirable to alter the law in this respect. I may, however, remind the Deputy that there is in operation by virtue of Section 13 of the Finance (No. 2) Act, 1947, a differential rate of stamp duty which discriminates against the purchase of property here by non-residents.
Am I to understand that it would be permissible for any foreign adventurer to invest in property in this country?
As regards a foreign adventurer, it would be very hard for me to decide that; but there are regulations which prevent an adventurer coming in.
This advertisement may give a foreign adventurer the opportunity which he desires.