asked the Minister for Agriculture whether he has yet received the accounts for the year ended 31st December, 1955, which are required under the National Stud Act, 1945, to be presented by the directors of the Irish National Stud within 90 days of the close of their accounting year; and if he will state why the accounts and balance sheet for the year ended 31st December, 1954, were not presented until the 12th July, 1955.
Ceisteanna—Questions. Oral Answers. - National Stud Accounts.
I have not yet received the accounts of the National Stud Company for the year ended 31st December, 1955. I have sent a reminder in the matter to the company.
The company's accounts for the preceding year were presented to each House of the Oireachtas about the same time as in previous years. I feel, however, that it should be possible to effect an improvement in this respect in future years, and I am looking into the matter further.
Is the Minister aware that under Section 25 (6) of the National Stud Act, 1945, it is stated:—
"If the company makes default"
—which they have done—
"in complying with any of the provisions of this section, the company, and every director, manager and other officer of the company, who knowingly and wilfully authorised or permitted such default, shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding five pounds for every day during which the default continues."
I am so aware; and I am also aware of the fact that my predecessor presented the accounts to the Government on 28th July, 1953, and on 6th July, 1954. To date, I have not yet heard of any of the directors being heavily mulcted and fined in respect of the defaults in those two years.