As there are no amendments on Report Stage, Fourth Stage is hereby completed and we will proceed to Fifth Stage.
Nítrigin Éireann Teoranta Bill, 2000: Report and Final Stages.
Acting Chairman
Question proposed: "That the Bill do now pass."
Committee Stage of the Bill has not yielded any proposals for amendment and neither has Report Stage. The main purpose of the Bill is to provide for the transfer of the State guaranteed debt, which is £193 million, to the Minister for Finance. It provides for the Minister for Finance to transfer the debt to the National Treasury Management Agency where it can be managed as part of the national debt. Once passed, this Bill will enable the Minister for Enterprise, Trade and Employment to make orders at future dates to repeal all previous NET legislation and to remove the applicability to NET of the Worker Participation in State Enterprises Acts, 1977 and 1988. These provisions will arise in the event of the disposal by the State of its shareholding in IFI.
I regret that since the Bill was published the debt has risen from £180 million to £193 million, as the Minister informed us today. This legislation is important to pass the debt on to the Minister for Finance. Much dissatisfaction was expressed on Second Stage about how the debt arose and maybe that should have been examined in greater detail. Perhaps we can learn a lesson so that a similar situation will not occur. I welcome the Bill.
I thank the Acting Chairman, the staff of the House and the Opposition for their co-operation during passage of the Bill. It is very important enabling legislation which removes the burden of debt from NET and transfers it to the National Treasury Management Agency through the Minister for Finance and the Minister for Enterprise, Trade and Employment. It will allow us to undertake a critical analysis of NET once the documentation and orders are signed.
Question put and agreed to.