Vol. 395 No. 8
47 Mr. Ryan asked the Minister for Industry and Commerce if he will outline his attitude to equity shareholding by the State or by State agencies under his aegis in private companies for the purpose of protecting State investment in such companies; and if he will make a statement on the matter.
While certain of the industrial promotion agencies operating under the aegis of my Department are empowered to take equity shareholdings in private companies, they are statutorily required to make such investments only in profitable or job creating ventures.
With regard to the State taking a shareholding in the circumstances outlined by the Deputy in his question, such a matter would be for decision by the Government.
