asked the Minister for Transport and Power if he will expand on a reply of 31st March, 1966 regarding the finances of Bord na Móna, the air companies, CIE and other semi-State bodies under the aegis of his Department with reference to the financial years 1965-66 and 1966-67.
Written Answers. - Finances of Semi-State Bodies.
126.
Following is the information sought:
SCHEDULE A
|
State body |
Year |
Total amount of repayable capital issued from State sources |
Total amount of non- repayable capital issued from State sources |
Amount of interest paid |
Amount of capital repaid |
Amount of interest paid out of Exchequer to finance capital advances in the absence of interest payments |
Total Subsidy Paid |
Amount of capital written off |
Remarks |
|
£ |
£ |
£ |
£ |
£ |
£ |
£ |
|||
|
1. Bord na Móna |
1955-56 |
1,390,000 |
— |
249,105 |
53,872 |
— |
— |
— |
The Bórd na Móna financial year runs March. Further interest, amounting to £565,649, payable in respect of 1966-67 was unpaid at 1st April, 1967. |
|
1956-57 |
1,000,000 |
— |
419,824 |
56,210 |
— |
— |
— |
||
|
1957-58 |
885,000 |
— |
474,673 |
142,278 |
— |
— |
— |
||
|
1958-59 |
1,551,000 |
— |
518,381 |
180,203 |
— |
— |
— |
||
|
1959-60 |
1,373,000 |
— |
598,667 |
186,679 |
— |
— |
— |
||
|
1960-61 |
1,838,000 |
— |
692,670 |
227,789 |
— |
— |
— |
||
|
1961-62 |
1,800,000 |
— |
801,060 |
271,613 |
— |
— |
— |
||
|
1962-63 |
1,400,000 |
— |
896,515 |
282,080 |
— |
— |
— |
||
|
1963-64 |
1,454,000 |
— |
947,489 |
347,238 |
— |
— |
— |
||
|
1964-65 |
— |
— |
979,457 |
417,450 |
— |
— |
— |
||
|
1965-66 |
1,490,000 |
— |
1,006,839 |
435,615 |
— |
— |
— |
||
|
1966-67 |
2,426,000 |
— |
552,949 |
545,714 |
— |
— |
— |
||
|
2. Córas Iompair Éireann |
1955-56 |
— |
— |
— |
— |
— |
707,800 |
The CIE financial year runs from 1st April to 31st March. |
|
|
1956-57 |
1,803,000* |
— |
7,970 |
— |
— |
1,493,300 |
|||
|
1957-58 |
— |
1,782,412 |
134,421 |
— |
— |
2,260,888 |
|||
|
1958-59 |
— |
1,190,000 |
— |
— |
— |
1,433,000 |
*The sum of £1,803,000 repayable advances issued to the Board in 1956-57 is now non-repayable by the Board in accordance with the Transport Act, 1958. |
||
|
1959-60 |
— |
— |
— |
— |
— |
1,175,000 |
See |
||
|
1960-61 |
— |
— |
— |
— |
— |
1,175,000 |
remarks |
||
|
1961-62 |
— |
— |
— |
— |
— |
1,175,000 |
column |
||
|
1962-63 |
— |
— |
— |
— |
— |
1,175,000 |
|||
|
1963-64 |
— |
— |
— |
— |
— |
2,175,000 |
|||
|
1964-65 |
— |
— |
— |
— |
— |
2,000,000 |
|||
|
1965-66 |
1,800,000 |
— |
35,837 |
— |
— |
2,000,000 |
|||
|
1966-67 |
2,090,000 |
— |
147,575 |
— |
— |
2,000,000 |
As from 1/4/59 the Minister for Finance assumed liability for payment of principal and interest of the £9,889,083 3% Transport Stock, 1955/60. |
||
|
3. Air Companies |
1955-56 |
— |
88,800 |
— |
— |
— |
— |
— |
The air companies' financial year runs from 1st April to 31st March. |
|
1956-57 |
— |
— |
— |
— |
— |
— |
— |
||
|
1957-58 |
— |
— |
— |
— |
— |
— |
— |
||
|
1958-59 |
— |
— |
— |
— |
— |
— |
— |
||
|
1959-60 |
— |
2,782,011 |
— |
— |
— |
— |
— |
||
|
1960-61 |
— |
6,277,000 |
— |
— |
— |
— |
— |
||
|
1961-62 |
— |
443,000 |
— |
— |
— |
— |
— |
||
|
1962-63 |
— |
277,000 |
— |
— |
— |
— |
— |
||
|
1963-64 |
— |
631,707 |
— |
— |
— |
— |
— |
||
|
1964-65 |
— |
1,622,799 |
— |
— |
— |
— |
— |
||
|
1965-66 |
— |
711,266 |
— |
— |
— |
— |
— |
||
|
1966-67 |
— |
— |
— |
— |
— |
— |
— |
NOTE: Ostlanna Iompair Éireann is a wholly owned subsidiary of Córas Iompair Éireann which provided the capital of Ostlanna.
SCHEDULE B.
|
State Body |
Year |
Amount of repayable capital provided by the Exchequer or State Funds |
Amount of non-repayable capital provided by the Exchequer or State Funds |
Amount of Capital Repaid |
Amount of Capital written-off |
Total Amount of Exchequer Subsidies Paid |
Remarks |
|
£ |
£ |
£ |
£ |
£ |
|||
|
1. Shannon Free Airport Development Co. Ltd. |
1959-60 |
— |
449,354 |
— |
— |
133,646 |
The SFAD CO. financial year runs from 1st April to 31st March. The company was incorporated on 28/1/59. |
|
1960-61 |
— |
913,496 |
— |
— |
39,004 |
||
|
1961-62 |
310,000 |
577,396 |
— |
— |
79,604 |
||
|
1962-63 |
90,000 |
1,009,482 |
2,583 |
— |
149,518 |
||
|
1963-64 |
876,000 |
705,108 |
1,283 |
— |
110,632 |
||
|
1964-65 |
602,000 |
678,745 |
4,292 |
— |
303,205 |
||
|
1965-66 |
131,000 |
1,011,770 |
6,534 |
— |
209,880 |
||
|
1966-67 |
520,000 |
529,721 |
7,281 |
— |
161,779 |
||
|
2. Electricity Supply Board |
1955-56 |
4,825,600 |
4,825,600* |
437,022 |
— |
— |
The ESB financial year runs from 1st April to 31st March. |
|
1956-57 |
7,200,000 |
— |
485,823 |
— |
— |
||
|
1957-58 |
3,500,000 |
— |
525,657 |
— |
— |
||
|
1958-59 |
— |
1,000,000 |
564,564 |
— |
— |
*Amount originally obtained as non-repayable rural subsidy and which became repayable capital through the operation of the Electricity (Supply) (Amendment) Act, 1955. |
|
|
1959-60 |
— |
1,224,426 |
593,466 |
— |
— |
||
|
1960-61 |
— |
952,000 |
619,159 |
— |
— |
||
|
1961-62 |
— |
767,000 |
646,020 |
— |
— |
||
|
1962-63 |
— |
977,000 |
674,050 |
— |
— |
||
|
1963-64 |
— |
1,075,000 |
703,467 |
— |
— |
||
|
1964-65 |
— |
1,311,000 |
734,172 |
— |
— |
||
|
1965-66 |
— |
1,133,000 |
766,284 |
— |
— |
||
|
1966-67 |
— |
875,000 |
799,870 |
— |
— |
||
|
3. Irish Shipping Ltd. |
1955-56 |
— |
692,100 |
— |
— |
— |
The Irish Shipping financial year now runs from 1st April to 31st March. |
|
1956-57 |
— |
1,683,299 |
— |
— |
— |
||
|
1957-58 |
— |
1,819,600 |
— |
— |
— |
||
|
1958-59 |
— |
604,599 |
— |
— |
— |
||
|
1959-60 |
— |
1,931,700 |
— |
— |
— |
||
|
1960-61 |
— |
1,347,427 |
— |
— |
— |
||
|
1961-62 |
— |
1,003,000 |
— |
— |
— |
||
|
1962-63 |
— |
1,890,750 |
— |
— |
— |
||
|
1963-64 |
— |
255,000 |
— |
— |
— |
||
|
1964-65 |
— |
— |
— |
— |
— |
||
|
1965-66 |
— |
— |
— |
— |
— |
||
|
1966-67 |
— |
— |
— |
— |
— |
||
|
The B & I financial year corresponds with the calendar year. The company was acquired by the State from Coast Lines Ltd. in 1965. |
|||||||
|
4. British & Irish Steampacket Co Ltd. |
1964-65 |
— |
3,632,243 |
— |
— |
— |
|
|
1965-66 |
— |
— |
— |
— |
— |
||
|
1966-67 |
— |
— |
— |
— |
— |
||
|
5. Bord Fáilte |
1955-56 |
— |
— |
— |
— |
— |
The Bord Fáilte financial year runs from 1st April to 31st March. |
|
1956-57 |
— |
— |
— |
— |
— |
||
|
1957-58 |
— |
— |
— |
— |
— |
||
|
1958-59 |
— |
— |
— |
— |
— |
||
|
1959-60 |
— |
54,467 |
— |
— |
— |
||
|
1960-61 |
— |
91,969 |
— |
— |
— |
||
|
1961-62 |
— |
182,992 |
— |
— |
— |
||
|
1962-63 |
— |
350,989 |
— |
— |
— |
||
|
1963-64 |
— |
495,000 |
— |
— |
— |
||
|
1964-65 |
— |
610,000 |
— |
— |
— |
||
|
1965-66 |
— |
605,000 |
— |
— |
— |
||
|
1966-67 |
— |
760,000 |
— |
— |
— |
NOTE: The moneys shown for Bord Fáilte were disbursed by the Board by way of grants for resort development and the development of holiday accommodation.
127.
asked the Minister for Transport and Power if he will expand a reply of 22nd February, 1967, regarding directors, finances and auditors with reference to (a) Shannon Free Airport Development Company Limited; (b) Bord an Móna; and (c) amalgamated airport companies.
Following is the information sought:
STATE BOARDS/COMPANIES
UNDER AEGIS OF MINISTER FOR TRANSPORT AND POWER.
|
Name of Body: |
Shannon Free Airport Development Co. Ltd. |
|
|
(1) Constituted: |
Date: |
Authority: |
|
28/1/59 |
Companies Acts, 1908 to 1963. |
|
|
(2) Directors: |
Names: |
Manner of Appointment: |
|
B. O'Regan (Chairman) |
By the Minister for Transport |
|
|
A. Kennan |
and Power after consultation |
|
|
N. A. O'Brien |
with the Minister for Finance. |
|
|
J.J. Walsh |
||
|
J.B. McKenzie |
||
|
G. Farren |
||
|
All Directors are part-time and two (Messrs. Kennan & O'Brien) are Civil Servants. |
||
|
(3) Share/Loan Capital/ Advances: |
Amount not repaida. £4,778,000 share capital |
Terms of Repaymenta. Not repayable |
|
b. £2,690,684 advances to date not repaid. |
b. Principal and interest repayable in half-yearly instalments based on amortisation of the principal over 50 years at the current Exchequer lending rate. |
|
(4) Amount received during last available financial year from: |
Voted Monies |
Central Fund |
Licence etc. Fees paid by Public |
Sales |
|
£361,500 |
£850,000 |
Not applicable |
Not applicable |
|
(5) Capital: |
Expended during each of the three years ended 31/3/67 and estimated to be expended in current year |
For which commitments have been announced |
|
1964-65—£1,233,000 |
£9,000,000 |
|
|
1965-66—£1,112,000 |
||
|
1966-67—£1,049,000 |
||
|
1967-68—£1,434,000 est. |
||
|
(6) Remuneration paid to: |
Directors:The chairman is paid £750 per annum whilst the other Directors are each paid £325. |
Five Principal Executives: No information available. The remuneration of its executive staff is a matter for the company itself. |
|
(7) Auditors: |
NameComptroller and Auditor General. |
How appointedThe Articles of Association of the Company provide that the Comptroller and Auditor General shall at all times be auditor unless the Minister for Finance shall approve the appointment of some other auditor. |
REMARKS:
The particulars shown at (4) above are in respect of the financial year ended 31/3/67.
|
Name of Body: |
Bord na Móna |
|
|
(1) Constituted |
Date |
Authority |
|
21/6/46 |
Turf Development Act, 1946 |
|
|
(2) Directors: |
Names:A. O'Rahilly (Chairman) |
Manner of Appointment By the Government. |
|
D.C. Lawlor (Managing Director) |
||
|
L. D. G. Collen |
||
|
A. Woods |
||
|
H.V. Flinn |
||
|
C.I. O'Flynn |
||
|
D. McAleese |
||
|
With the exception of the Managing Director who has a full-time appointment, all the Directors are part-time. None is a Civil Servant. |
||
|
(3) Share/Loan Capital/ Advances: |
Amount not repaidAt 31/3/67 the amount of ad- vances from the Central Fund outstanding was £22,334,178. |
Terms of RepaymentRepayable with interest over a period of about 25 years. |
|
(4) Amount received during last available financial year from: |
Voted Monies |
Central Fund |
Licence etc. Fees paid by Public |
Sales |
|
Nil. |
£2,2426,000 |
Nil. |
£5,518,000 |
|
(5) Capital: |
Expended during each of the three years ended 31/3/67 and estimated to be expended in current year |
For which commitments have been announced |
|
1964-65—£1,508,000 |
Capital expenditure totalling £725,000 over the next three |
|
|
1965-66—£1,990,000 |
years is anticipated. |
|
|
1966-67—£2,426,000 |
||
|
1967-68—£462,000 (est.) |
||
|
(6) Remuneration paid to: |
Directors:The Chairman is paid £750, the Managing Director £4,500, and each of the other Directors £500 per annum. |
Five Principal Executives:No information available. The remuneration of its executive staff is a matter for the Board itself. |
|
(7) Auditors: |
Name: Comptroller and Auditor General. |
How appointed:The auditors are appointed by the Minister for Transport and Power. |
REMARKS:
(a) The particulars shown at (4) above are in respect of the year ended 31/3/67.
(b) The amounts shown at (5) above for the years ended 31/3/66 and 31/3/67 include amounts of £710,000 and £1,526,000 respectively advanced to the Board for payment of loan interest and capital repayment.
|
Name of Body |
Aer Rianta Teoranta |
|
|
(1) Constituted: |
Date |
Authority |
|
5/4/37 |
Air Navigation and Transport Act, 1936 and Companies Acts, 1908 to 1963. |
|
|
(2) Directors: |
Names: |
Manner of Appointment |
|
J. Connor (Chairman) |
By the Minister for Transport and |
|
|
D.G. Beddy |
Power with the consent of the |
|
|
A.P. McClafferty |
Minister for Finance. |
|
|
G. Doyle |
||
|
R.C. O'Connor |
||
|
All Directors are part-time. One Director (Mr. O'Connor) is a Civil Servant. |
||
|
(3) Share/Loan/ |
Amount not repaid |
Terms of Repayment |
|
Capital/Advances: |
£51,261 share capital |
Not repayable |
|
(4) Amount received during last available financial year from: |
Voted Monies |
Central Fund |
Licence etc. fees paid by Public |
Sales |
|
Nil |
Nil |
Not Applicable |
£1,447,395 (total revenue including catering receipts). |
|
(5) Capital: |
Expended during each of the three years ended 31/3/67 and estimated to be expended in current year. |
For which commitments have been announced.Nil |
|
1964-65—£70,000 |
||
|
1965-66—Nil |
||
|
1966-67—Nil |
||
|
1967-68—Nil |
||
|
(6) Remuneration paid to: |
Directors:The Chairman is paid £600 per annum whilst the other Directors are each paid £500 per annum. |
Five Principal Executives:No information available. The remuneration of its executive staff is a matter for the company itself. |
|
(7) Auditors: |
Name:Messrs. Kennedy, Crowley & Co. Dublin. |
How appointed:By the company subject to the approval of the Minister for Transport and Power, given after consultation with the Minister for Finance. |
Remarks:
(a) The particulars shown at (4) above are in respect of the financial year ended 31/3/67.
(b) The auditors are appointed at the annual general meeting of the company. The Minister for Finance holds 51,261 of the 51,269 shares issued. Each Director holds a qualifying share and the remaining three shares are held by Civil Servants.
|
Name of Body: |
Aer Lingus Teoranta |
|
|
(1) Constituted: |
Date |
Authority |
|
22/5/36. |
Companies Acts, 1908 to 1963. |
|
|
(2) Directors: |
Names |
Manner of Appointment |
|
P. Lynch (Chairman) |
By the Minister for Transport |
|
|
J.J. O'Leary |
and Power, with the consent |
|
|
C. Carrigan |
of the Minister for Finance. |
|
|
J.F. Dempsey |
||
|
D. Herlihy |
||
|
J.C. O'Connor |
||
|
All Directors are part-time and none is a Civil Servant. |
||
|
(3) Share/Loan Capital/ Advances: |
Amount not repaid£6,392,994 share capital |
Terms of RepaymentNot repayable. |
|
(4) Amount recived during last available finanicial year from: |
Voted Monies |
Central Fund |
Licence etc. Fees paid by public |
|
|
Nil |
Nil |
Not applicable. |
£11,008,969 (total revenue). |
|
(5) Capital: |
Expended during each of the three years ended 31/3/67 and estimated to be expended in current year |
For which Commitments have been announced£20,000,000 |
|
1964-65—£1,850,000 |
||
|
1965-66—£3,410,000 |
||
|
1966-67—£1,472,000 |
||
|
1967-68—£1,900,000 est. |
||
|
(6) Remuneration paid to: |
Directors:The Chairman is paid £1,500 per annum whilst the other Dir- ectors are each paid £500 per annum |
Five Principal Executives:No information available. The remuneration of its executive staff is a matter for the company itself. |
|
(7) Auditors: |
Name: Messrs. Kennedy, Crowley, & Co., Dublin. |
How appointed:By the company subject to the approval of the Minister for Transport and Power given after consultation with the Minister for Finance. |
REMARKS:
(a) The particulars shown at (4) above are in respect of the financial year ended 31/3/67.
(b) The auditors are appointed at the annual general meeting of the company. The Minister for Finance holds 6,392,994 of the 6,393,003 shares issued. Each Director holds a qualifying share and the remaining two shares are held by Civil Servants.
|
Name of Body: |
Aerlinte Éireann Teoranta |
|
|
(1) Constituted: |
Date |
Authority |
|
27/2/47 |
Companies Acts, 1908 to 1963 |
|
|
(2) Directors: |
Names: |
Manner of Appointment |
|
P. Lynch (Chairman) |
||
|
T.J. O'Driscoll |
By the Minister for Transport |
|
|
C. Carrigan |
and Power, with the consent of |
|
|
D. Herlihy |
the Minister for Finance. |
|
|
J.C. Kelly-Rogers |
||
|
J.C. O'Connor |
||
|
J.F. Dempsey |
||
|
All Directors are part-time and none is a Civil Servant. |
||
|
(3) Share/Loan |
Amount not repaid |
Terms of Repayment |
|
Capital/Advances: |
£7,217,034 share capital. |
Not repayable. |
|
(4) Amount Received during last avail- able financial year from: |
Voted MoniesNil |
Central FundNil |
Licence, etc., Fees paid by PublicNot applicable |
Sales£10,580,229 (total revenue) |
|
(5) Capital: |
Expended during each of the three years ended 31/3/67 and estimated to be expended in current year. |
For which commitments have been announced.£22,000,000 |
|
1964-65—£4,420,000 |
||
|
1965-66—£2,600,000 |
||
|
1966-67—£3,282,000 |
||
|
1967-68—£2,700,000 est. |
||
|
(6) Remuneration paid to: |
DirectorsNo director of the Company is remunerated except Capt. J.C. Kelly-Rogers who is paid £500 per annum. |
Five Principal ExecutivesNo information available. The remuneration of its executive staff is a matter for the company itself. |
|
(7) Auditors: |
Name |
How appointed |
|
Messrs. Kennedy, Crowley & Co. Dublin. |
By the company subject to the approval of the Minister for Transport and Power given after consultation with the Minister for Finance. |
REMARKS:
(a) The particulars shown at (4) above are in respect of the financial year ended 31/3/67.
(b) The auditors are appointed at the annual general meeting of the company. The Minister for Finance holds 7,217,034 of the 7,217,042 shares issued. Each Director holds a qualifying share; the remaining share is held by a Civil Servant.