Vol. 443 No. 3
114 Mr. G. Mitchell asked the Minister for Finance if he will have arrangements made to hand over a site (details supplied) in Dublin 12, which appears to be in the ownership of the Minister for Finance, to a local development group.
The site to which I believe the Deputy refers was held on lease by a limited company. This company was dissolved on 17 January 1989. In consequence the interest of the dissolved company vested in the Minister for Finance by virtue of the provisions of the State Property Act, 1954.
The lease granted to the company was subject to the payment of a rent of £212 per annum. The company had made subleases which in aggregate yielded almost £212 per annum. In effect, therefore, the company collected the rents from the sub-leases and paid them to its landlord. In these circumstances I have waived the State's interest in the lease formerly held by the company in favour of the lessor, landlord. Accordingly, the site referred to in this question does not now vest in the State.
