asked the Minister for Transport and Power whether there is any restriction on the sale by Córas Iompair Éireann of any subsidiary limited company owned by it; whether in relation to any such sale CIE are obliged to invite tenders; whether the Board has disposed of its interests in a company (details supplied); and, if so, if he will make available full details of the transaction.
Ceisteanna—Questions. Oral Answers. - Sale of CIE Subsidiary.
6.
CIE have two subsidiary companies, Óstlanna Iompair Éireann Teoranta and Aerlód Teoranta. The share capital of both companies is owned entirely by CIE. There is no obligation to invite tenders for any proposed sale of these companies but under the Articles of Association of each company, the shares can be disposed of only with my prior consent.
The company referred to in the Deputy's question was a subsidiary company of the Dublin United Transport Company Ltd. It was transferred to and vested in CIE under the provisions of the Transport Act, 1944. Notice of the voluntary liquidation of the company was published in Iris Oifigiúil on 5th January, 1962. The subsidiary company in question was wound up voluntarily in 1963.