Vol. 512 No. 6
67 Mr. Ferris asked the Minister for Finance the measures, if any, he has taken in relation to the ICC since he decided not to proceed with the privatisation of the bank; and if he will make a statement on the matter. [26904/99]
As I stated in my reply to a previous question, following the decision not to proceed with the privatisation of ICC Bank, I am now providing for the extension of its borrowing requirements in the ICC Bank Bill 1999. The Bill has passed all stages in the Oireachtas and is with the President for signature for enactment into law. Going forward, it is my intention to ensure that the bank remains adequately capitalised while it is under State ownership.
I will now be asking the board, management and staff to consider the options for the future of the bank in the light of current developments. I will fully consider all the options for a way forward on receipt of the views of these parties.
