asked the Minister for Industry and Commerce if he is now in a position to state the terms on which it is proposed to acquire the Great Northern Railway.
Ceisteanna—Questions. Oral Answers. - Acquisition of Great Northern Railway.
I would refer the Deputy to the reply which I gave in Dáil Éireann on 31st October last to his question concerning the acquisition of the Great Northern Railway. Since then there has been correspondence with the company and, as a result of their consultations with the stockholders, the directors have now made to the two Governments what is tantamount to an offer for a voluntary sale of the company's undertaking for a sum of £4,500,000. I have, in consultation with the Minister of Commerce, Belfast, agreed to accept this offer, subject to the approval of the Oireachtas.
As neither the directors nor the stockholders have any legal power to sell the company's undertaking, the approval of the Oireachtas will be sought in a Bill for the transfer of the undertaking for this sum.
When is the legislation likely to be introduced?
In the course of two or three months.