asked the Minister for Industry and Commerce if he will state (1) the names, addresses and qualifications of the persons constituting or directing the body known as Fuel Importers (Eire) Limited, and the persons or bodies by whom they were appointed; (2) the statutory or other authority under which the body is constituted; (3) the powers and duties of that body; (4) (a) the body's nominal capital, (b) the subscribed capital and (c) the ownership of the subscribed capital, including particularly the amount of capital subscribed by the State; (5) the amount of money paid by the State to that body other than in the form of capital, and the amount of such money due as a repayable debt to the State; and (6) the amount of money borrowed by the body in respect of which he has given a guarantee regarding the repayment of principal and/or interest.
Written Answers. - Fuel Importers (Eire) Limited.
1. The names and addresses of the directors of Fuel Importers (Eire) Limited are:—Mr. J. P. Reihill, "Deepwell," Blackrock, County Dublin; Mr. V.A. Carroll, "Latona," Torquay Road, Foxrock, County Dublin; Mr. P.J. Collins, 1 South Mall, Cork; Mr. G.I. Corbett, Mount St. Ann, Rockbarton, Galway; Mr R.A. Morris, 22 William Street, Waterford; Mr. M.J. Murphy, Lord Edward Street, Ballina; Mr. J. O'Keeffe, Dock Road, Limerick; Mr. J.P. Meadows, 169 Botanic Road, Glasnevin, Dublin.
The qualification of each of these directors is the holding of one £1 share in the company. The company was formed in 1940 as a non-profit making concern at the suggestion of the Minister for Supplies. The original directors were representative of the principal coal-importing concerns and were approved by the Minister for Supplies. As the functions of the company are at present confined to the custody of reserve stocks of coal, a change in the directorate is now contemplated.
2. The statutory authority under which the company is constituted is the Companies Act, 1908 to 1924.
3. The powers of the company are as set out in its memorandum of association. Its duties consist in the purchase, importation, sale, distribution and storage of fuel as directed by the Minister for Industry and Commerce from time to time.
4. The amount of the company's nominal capital is £100; the amount of the subscribed capital is £10; no part of the company's capital was subscribed by the State; the subscribed capital is held by the eight directors and two shareholders.
5. The amount of money paid by the State to the company other than in the form of capital up to 29th February, 1952, is £9,806,372 12s. 9d. This sum was provided to recoup the losses incurred by the company on the sale of coal, turf and firewood and no part of it is due as a repayable debt to the State.
6. The amount of money borrowed by the company stands at present at £2,567,858 4s. 9d. This overdraft is guaranteed by the Minister for Finance.