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Dáil Éireann debate -
Wednesday, 16 Nov 1955

Vol. 153 No. 6

Ceisteanna—Questions. Oral Answers. - C.I.E. Stock Issue.

asked the Minister for Finance if he will state (a) the cost of the issue of £4,500,000 stock for C.I.E., (b) the amount of commission paid to stockbrokers, (c) the amount of commission paid to the banks, and (d) the cost of advertising, etc.

My functions in relation to the issue of stocks by C.I.E. are laid down in Sections 28 to 30 of the Transport Act, 1950. They are confined to determining, in association with the Minister for Industry and Commerce, whether a proposed issue may take place; approving of the terms and conditions, if I am satisfied with them, and guaranteeing the due payment of principal and interest.

I am, however, informed by C.I.E. that the total expenses of the issue to which the Deputy refers were £59,628.

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