On this section, I am glad the Minister pointed out the elementary error I made during the Second Stage. I should like to know whether the Minister retains for himself, in view of the fact that he and the Minister for Finance will guarantee substantial borrowing by the new board, any final position of consultation so that he can ask the board of the new co-operative just where they are going?
Dairy Produce (Miscellaneous Provisions) Bill, 1973: Committee and Final Stages.
Sections 1 to 4, inclusive, agreed to.
SECTION 5.
Question proposed: "That section 5 stand part of the Bill."
Deputy Gibbons knows that in subsections (1) to (4) it is provided that the assets transferred must be used for the benefit of the dairy industry. That is one definite specification. They must be used for the orderly marketing and distribution of dairy produce or to the extent that they are not needed for this purpose they may be invested in trustee securities.
I appreciate that, but these are assets that belong to the industry. They were subscribed by the industry. The Minister now in the House and the Minister for Finance will be acting as guarantors for heavy borrowing by the board and I would think it reasonable that the Minister would retain for himself powers of consultation.
The guarantees to be given will be for a specific purpose and, it is hoped, for a very temporary period until this confidence is built up. I would hardly think it necessary, therefore, to put anything more into the Bill. There has always been consultation with Bord Bainne and I think this will continue under the co-operative board now being set up.
Question put and agreed to.
Section 6 agreed to.
SECTION 7.
Question proposed: "That section 7 stand part of the Bill."
I merely want to ask the Minister whether it is the case that this rather long section reiterates and confirms the earlier position of the officers and servants of the old board?
That is the position and it has been agreed by all the parties concerned.
Question put and agreed to.
Sections 8 to 11, inclusive, agreed to.
Title agreed to.
Bill reported without amendment, received for final consideration and passed.