asked the Minister for Finance if he will exercise his powers as majority shareholder in Irish Life Assurance Company Limited to instruct the company to cease issuing civil bill ejectments against house-holders on the ACRA ground rent strike.
Ceisteanna—Questions. Oral Answers. - Civil Bill Ejectments.
12.
No. The fact that I am the major shareholder in the Irish Life Assurance Company Limited does not entitle me to instruct the company regarding the management of its business.
I am informed that Irish Life has no civil bill ejectment proceedings pending. I would point out also that under section 27 of the Landlord and Tenant (Ground Rents) (No. 2) Bill, 1977, recently initiated by the Government, the ground landlord would not be able to enforce a covenant in a lease for a dwellinghouse giving him a right to recover possession for non-payment of ground rent.
Would the Minister not agree that being a major share-holder, we must have responsibility for policy decisions? We must accept that we have—all of us in the Oireachtas—responsibility for policy decisions and, in respect of a decision of the kind mentioned in the question, we must, as a major shareholder in a company like this, have an attitude and ensure, or do our best to ensure, that that attitude is implemented.
The issue seems to me to be one of the ordinary business of the company in accordance with the law. As I have said, in practice there are no such ejectment proceedings pending. In so far as our attitude in this matter is concerned the Deputy will find that it is clearly outlined in the section of the Landlord and Tenant (Ground Rents) (No. 2) Bill, 1977 to which I referred, where we propose to take away the right which ground landlords have at present under the law to eject for non-payment of ground rent.
The Minister would not disown the principle that a major shareholder has a responsibility in policy-making within a company of this kind?
It depends on whether it is a major issue of policy or part of ordinary day-to-day working, especially in accordance with the law until changed by the Houses of the Oireachtas.