asked the Minister for Finance if he will state (a) the cost of floating the recent £10,000,000 E.S.B. loan, (b) the total amount of commission paid to stockbrokers, (c) the total amount of commission paid to the banks, and (d) the cost of advertising, etc.
Ceisteanna—Questions. Oral Answers. - E.S.B. Loans—Cost of Flotation.
My functions in relation to the issue of stock by the E.S.B. are laid down in Sections 4, 8 and 9 of the Electricity (Supply) Amendment Act, 1954, as amended. They are confined to determining in association with the Minister for Industry and Commerce whether a proposed issue should take place and consenting to the terms and conditions of the issue if I am satisfied with them and to underwriting and/or guaranteeing the issue if I think fit to do so.
I understand, however, from the board that as at 14th November, 1955, expenditure totalled £100,160 and that some further minor expenditure is still expected.