Written Answers. - Semi-State Bodies.
Dick Roche
Question:
88
Mr. Roche
asked the
Minister for Finance
the name, the year of establishment, the basis under statute, statutory instrument or otherwise of commercial and non-commercial State-sponsored bodies under the aegis of his Department; the fees paid to the chairman and ordinary directors of these bodies; and when these fees were last agreed.
[10239/00]
Following are the names, years of establishment, the legal basis under statute, statutory instrument or otherwise, fees paid to the chairmen and ordinary directors and when these fees were last agreed of the commercial and non-commercial State-sponsored bodies under the aegis of my Department.
Name: Central Bank of Ireland;
Year of Establishment: 1943;
Legal basis under statute: Body Corporate (under Central Bank Act, 1942).
Name: ACC Bank plc;
Year of Establishment: Established as the Agricultural Credit Corporation in 1927;
Legal basis under statute: Established under the Agricultural Credit Act, 1927. Its current statutory basis is the ACC Bank Acts, 1978 to 1999.
Name: ICC Bank plc;
Year of Establishment: Established as the Industrial Credit Corporation in 1933;
Legal basis under statute: Established under the Industrial Credit Act, 1933. Its current statutory basis is the ICC Bank Act, 1999.
Name: An Post National Lottery Company;
Year of Establishment: Established in 1986;
Legal basis under statute: Established under the National Lottery Act. 1986.
The standard fees for the chairpersons and directors of the board of State bodies fall into the following categories: Category 1, Chairperson £7,500; Directors £5,000. Category 2, Chairperson £6,000; Directors £4,000. Category 3, Chairperson £4,000; Directors £2,500. Category 4, Chairperson £3,000; Directors £2,000.
These fees were last revised by Government in 1992 and are payable to the following bodies under the aegis of this Department: Central Bank which is in category 1; and ICC, ACC and An Post National Lottery which are in category 2.
In exceptional circumstances, a higher level of fee has been sanctioned for chairpersons of particular State bodies usually in the light of a substantially higher than normal time commitment being required of the chairperson concerned.
Following a request from the board of ICC Bank, it was authorised in July 1999 to make a payment of £34,000 to the chairman for work carried out by him during the year ended 31 October 1998 in relation to the sale process. In December 1999, on foot of a further request from the board, it was authorised to make a payment of £85,000 for work carried out during the year ended 31 October 1999 also in relation to the sale process. The payments related to work by the chairman over and above the norm over a period of two years.
Following a similar request from the board of ACC in February 1999, it was authorised in March 1999 to make a payment of £36,000 to the then chairperson of the board in respect of work carried out by her in 1998. In May, 1999, on foot of a further request from the board, it was authorised to make a payment of £29,400 plus VAT in respect of work carried out during the four month period from January 1999 to April 1999.
A new chairman was appointed to the board of ACC in May 1999. Following a request from the board of ACC, it was authorised in January this year to make a payment of £40,700 to the chairman in respect of duties carried out by him over and above the normal during the period from May to October 1999. In view of the likely continued requirement for the chairman to carry out duties over and above the norm, approval was also conveyed, subject to the approval of the board to remunerate him for such additional work at the rate of £1,100 a day during the twelve month period ending 31 December 2000.
Name: The National Treasury Management Agency;
Year of Establishment: 1990;
Legal Basis under statute: National Treasury Management Agency Act, 1990;
Fees paid to Committee: The agency does not have a board of directors. It does have an advisory committee which advises the agency on various matters and is consulted by the Minister on the term of office and terms and conditions of the chief executive. Advisory committee members are paid such fees and expenses as the agency, with the consent of the Minister, may determine.
The fee paid to the chairman is £10,000 per annum and to other members £5,000 per annum. When fees were last agreed: The chairman's fee was last set on 1 January 1994. The other committee members' fees were agreed on 30 November 1991. The Secretary General of the Department of Finance is a member of the committee but does not receive a fee.
Name: The Economic and Social Research Institute.
Founded in 1960 as the Economic Research Institute. In 1966, it assumed responsibility for social research and extended its title to The Economic and Social Research Institute. The institute is a private company, limited by guarantee, and incorporated under the Companies Acts. The executive committee which is a sub-committee of the institute's overall governing body, the council, acts as the institute's board of directors. The committee acts on a voluntary basis and there is no remuneration involved.
Name: Institute of Public Administration Founded in 1957. The institute is a private company, limited by guarantee, and incorporated under the Companies Acts. The board of directors act on a voluntary basis and there is no remuneration involved.
