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Dáil Éireann debate -
Wednesday, 5 Jul 1995

Vol. 455 No. 5

Written Answers. - State Sponsored Bodies.

Ivor Callely

Question:

114 Mr. Callely asked the Minister for Transport, Energy and Communications when CIE was established; and the initial equity invested. [12457/95]

Ivor Callely

Question:

116 Mr. Callely asked the Minister for Transport, Energy and Communications when Iarnród Éireann was established; and the initial equity that was invested. [12459/95]

Ivor Callely

Question:

117 Mr. Callely asked the Minister for Transport, Energy and Communications when Bus Éireann was established; and the initial equity that was invested. [12460/95]

I propose to take Questions Nos. 114, 116 and 117 together.

Coras Iompair Éireann was established initially as a limited liability company on 1 January 1945 under the provisions of the Transport Act, 1944 with issued Common Stock of £3,517,726 representing substituted stocks of the previous dissolved companies — Great Southern Railways Company and Dublin United Transport Company Ltd. Under the Transport Act, 1950 the company was dissolved on 1 June 1950 and its undertaking was transferred to and vested in a new statutory board, also called Coras Iompair Éireann.
Bus Éireann was established on 2 February 1987 with authorised share capital of £75 million of which £23 million was issued in exchange for net assets transferred from Coras Iompair Éireann on that date.
Iarnród Éireann was established on 2 February 1987 with authorised share capital of £75 million of which £23 million was issued in exchange for net assets transferred from Coras Iompair Éireann on that date.
No equity has been invested by the State in Coras Iompair Éireann or in any of its operating subsidiary companies.
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