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 Irish Steel Holdings, 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. - Irish Steel Holdings, Limited.
1. The names and addresses of the directors of Irish Steel Holdings, Limited, are:—John Williams (chairman), 53, Sandford Road, Ranelagh, Dublin; Gabriel Patrick Sarsfield Hogan, 17, Upper Mount Street, Dublin; Thomas O'Shea, 11, Alma Road, Monkstown, County Dublin.
The qualification of a director is the holding of one ordinary share in the company.
2. The company is a limited liability company constituted under the Companies Acts, 1908 to 1924.
3. It was established to carry on the manufacture of steel; its powers and duties are more particularly described in its memorandum and articles of association.
4. The company's nominal capital is £100, divided into 100 shares of £1 each, of which 3 shares have been subscribed by and issued to the directors, by whom they are owned subject to the provisions of the articles of the association.
5. Apart from any payments that may have been made by State Departments in the ordinary course of business, no payments have been made by the State to the company, either in the form of capital or otherwise; there is, therefore, no repayable debt due by the company to the State.
6. The Minister for Industry and Commerce has given no guarantee in respect of money borrowed by the company, but the Minister for Finance is empowered by the Emergency Powers (No. 157) Order, 1942 (Fourth Amendment) Order, 1947, to guarantee borrowings by the company up to a maximum of £300,000. The amount so guaranteed as at the 11th October, 1952, stood at £237,669.