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Seanad Éireann debate -
Tuesday, 19 Jan 1982

Vol. 97 No. 1

Fóir Teoranta (Amendment) Bill, 1981: Committee and Final Stages.

Question proposed: "That section 1 stand part of the Bill."

This is the definitions section which defines the company as Fóir Teoranta and the Minister as the Minister for Finance. Arising out of the Minister's comments a few moments ago on his desire to transfer the responsibility to the Minister for Industry, may I express the hope that, if that is ever done, there would be no alteration of the qualification "Teoranta" in the definition of the company so that it will always be limited help that is available?

I share the Senator's view in that regard and can assure him that it will be preserved.

Question put and agreed to.
Section 2 agreed to.
SECTION 3.
Question proposed: "That section 3 stand part of the Bill."

Might I seek clarification? In his speech the Minister said that the discretion of Fóir Teoranta to allocate money without the consent of the Minister will be increased to a ceiling of £1 million. That is not anywhere in the Bill itself. Is that a matter which can be dealt with without it being in the legislation?

It is correct, as the Senator says, that it is not in the Bill. It is mentioned largely as a matter of courtesy. But the Minister has power to direct the company not to enter into any such obligations unless they have clear authorisation for any sum in excess, currently, of £250,000 and £1 million will be the future limit. I think the limit is quite reasonable.

Therefore the position is that if the Minister decided, as a matter again of ministerial policy and exercise of discretion, to raise that to £2 million or £3 million, there is no bar to doing so; there is no need for further legislation? I just want to clarify the point.

No, there will be no need for more at present.

Question put and agreed to.
Section 4 agreed to.
Title agreed to.
Bill reported without amendment, received for final consideration and passed.
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