asked the Minister for Industry and Commerce the percentage of the profit of mining operations on Ireland's continental shelf which the State may at present require to be handed over to it; and if this percentage is liable to be reduced as a result of membership of the EEC.
Ceisteanna—Questions. Oral Answers. - Membership of EEC.
92.
The Minerals Development Act, 1940 and the Petroleum and Other Minerals Development Act, 1960, as applied by the Continental Shelf Act, 1968, empowered me to charge for the working of State minerals and petroleum in our continental shelf area such rent and royalties as I may, with the concurrence of the Minister for Finance, consider proper. Our accession to the EEC would not affect these powers in any way.
Would the adoption of a common policy on the continental shelf mining rights by the Common Market, and in particular the proposals at present being considered in this regard, have any effect on the Minister's power to levy a share of the profits?
Not on the power to fix the rent and royalties by the State.
You could charge as much as you like, in fact, a prohibitive amount, to prevent them coming in? Is that the position?
That is the position.