andMr. McQuillan asked the Minister for Finance whether, as the majority shareholder in the Irish Life Assurance Company Limited, he is prepared, and has power, to make public the inquiry into the affairs of Irish Estates Limited.
Ceisteanna—Questions. Oral Answers. - Irish Estates Limited.
22.
While I am the majority shareholder in the Irish Life Assurance Company Limited I am not a shareholder in Irish Estates Ltd. I have, therefore, no function in regard to the inquiry into the affairs of the latter Company which is being held under the provisions of Section 109 of the Companies (Consolidation) Act, 1908.
Are we to take it that this is a way out for the Minister —that answer that he has no shares or responsibility? Surely the Minister is aware of the fact that Irish Estates Limited is only a holding company so far as the Irish Assurance Company is concerned?
I have no shares in it.
Is not the parent company the one that asked for the inquiry?
Yes, but the inquiry is into the subsidiary company.
Surely the parent should know what the child is doing?
It should.
Surely the Minister appreciates the seriousness of the charges? Has he ascertained whether the findings of the inquiry will be published?
The inquiry is being held and surely Deputies can have a little patience until it is concluded?
We have plenty of patience but it seems to us that the Minister or the company are waiting to see what the findings are until they decide whether they will publish them or suppress them.
The Deputy is making a speech.
They are waiting for the results before they will decide whether to publish or suppress.
They are waiting for the result.