asked the Minister for Finance if he is aware that, notwithstanding the fact that a Commission are at present investigating the possibility of limiting the power of landlords to refuse to sell their interests to occupying tenants, the Irish Life Assurance Company Limited is purchasing substantial ground rent interests in Dublin, and is denying to tenants the opportunity to buy such rents; and if he will take steps to discourage such activity on the part of that company.
Ceisteanna — Questions. Oral Answers. - Purchase of Ground Rents.
40.
Mr. Ryan
I have no power to interfere with the investment policy of the company.
Mr. Ryan
Is it not a fact that the Minister is a principal shareholder in the Irish Life Assurance Company and, as such, is he not in a position to influence the conduct of the Board of this company, which is continuing to fly in the face of public opinion which is against the continuation of feudal ground rents?
The Deputy is making a speech, not asking questions.
Mr. Ryan
I have asked the Minister to exert his influence as a shareholder.
The Deputy must be quite familiar with the procedure in public companies and must know that a shareholder can only interfere by taking a voice in the appointment of directors.
Mr. Ryan
Is the Minister not in a position to do that? Am I to understand that he, as a shareholder, has no influence in the running of this company?
Not in the ordinary running of the company, no.