Ceisteanna—Questions. Oral Answers. - Loans by Shipping Finance Corporation Limited.


asked the Minister for Finance if he will state (1) the dates on which the Dáil was informed of the loans made, or proposed to be made, by Shipping Finance Corporation Limited; and (2) whether his approval was sought either directly or indirectly for any loan made by the Corporation, and, if so, the date on which he gave his approval in each case, and each amount so approved.

Shipping Finance Corporation is a commercial concern and the Dáil is not informed of individual loans made or proposed to be made by the Corporation nor do such loans require my approval. The total amount of loans outstanding at the end of the Corporation's financial year, that is, 31st October, is shown in the Corporation's accounts which are presented to the Dáil as part of the accounts of the Industrial Credit Company of which it is a wholly-owned subsidiary.

If these loans had been made through the Industrial Credit Company, of which Shipping Finance Corporation is a wholly-owned subsidiary, would the information not have been laid before the Dáil?

It is laid before the Dáil as soon as the accounts are published after 31st October each year. The annual meeting takes place soon now for last year and the accounts will be published.

This is December. The accounts of the company finish on 31st October. Could the Minister indicate what "soon" means in this context?

I think, within two or three weeks.

Before Christmas?