I wish to raise the matter of an amendment tabled to this section in the Dáil.
Irish National Petroleum Corporation Limited Bill, 2001: Committee and Remaining Stages.
Sections 1 to 7, inclusive, agreed to.
SECTION 8.
Question proposed: "That section 8 stand part of the Bill."
The amendment dealing with insurance?
Yes. Views were expressed that the corporation should take out insurance against the State's liability.
There was quite a debate on that between the Senator's colleague and myself and I know where he was coming from. I relayed to the Dáil that the chairman of the INPC had come to see me when we were bringing this matter to a close. He told me he was seeking a quotation from various insurance companies to put a cap on the State's liability. He mentioned Coyle Hamilton and other companies. He was of the opinion that the company could get such a guarantee under insurance. I was keen to examine that amendment in the Dáil as Deputy Stanton, in moving it, had the good of the country and of the company at heart. I told him I would discuss the matter in this House, reflect my keen interest in it and say to this House, as I did in the other, that I intend to meet the chairman of the INPC again – he is staying on in his post until everything is wound up satisfactorily – to find out where he has got to in that quest and to ask him to come back to me with details of what he has achieved.
Question put and agreed to.
Sections 9 to 13, inclusive, agreed to.
Schedule agreed to.
Title agreed to.
Bill reported without amendment.
Question proposed: "That the Bill be received for final consideration."
I wish to raise two technical matters on Report Stage.
Acting Chairman
The Senator should have raised those matters on Committee Stage as they cannot be raised on Report Stage. The Senator may raise them now with the agreement of the House.
That is agreed.
I am not proposing an amendment.
Acting Chairman
It would have been more appropriate to raise those matters when we were dealing with the sections on Committee Stage, but the Senator may continue.
We went through the sections on Committee Stage but not on Report Stage. On Report Stage I am entitled to raise matters, as far as I understand.
Acting Chairman
The Senator should proceed.
I did not raise these matters on Committee Stage as section 1 was dealt with before I noticed the points I wish to raise. Section 1 states that a map is to be deposited by the Minister in the Ordnance Survey Office on some date in June 2001 with the official seal of the Minister. It is to be deposited for the purposes of any Act of the Oireachtas passed in the year 2001. Can the Minister deposit a map in June 2001 without the President having signed it? It will be July before the Minister can fulfil that duty. This is technical matter and I wonder whether the timescale available will allow the Minister to fulfil that duty. We have only got until tomorrow, Friday, because after the weekend we will be into July and the Minister only has until June 2001 to do this. Will that difficulty invalidate this section?
I notice that in section 7 the sum of money in terms of the provision of the guarantee is not in Irish punts, sterling or euros—
It is in dollars.
—but in dollars. I can understand where the sale is going, but I am not sure we have ever seen sums of money, in terms of a guarantee, that the Minister for Finance will deal with it in dollars. Is that appropriate to this legislation?
With regard to the query on the depositing of the map, a "deposited map" means the map deposited by the Minister on 21 June 2001, which is sealed with the Official Seal of the Minister and signed by the Minister and has at the top of it the words and figures "Deposited for the purposes of any Act of the Oireachtas passed in the year 2001." The date "21 June" is only the date on which a person went over with the map and deposited it. If the Bill is passed, any time in 2001 would apply. The Senator is wondering if this must be signed and sealed by the President by the end of June. No, there is a statutory time within which the President signs Bills, and she may do so at her discretion within a range of days, but this does not have to be signed by the end of June.
The Senator's second query related to the use of dollars. We checked that with the Attorney General and he said it was in order to use the dollar currency in legislation rather than other currency.
I am sure it is in order but why make that choice?
It probably has to be dollars because it is an American company. All the transactions were in dollars and that is the reason I distinctly referred to dollars in my speech on Second Stage.
Question put and agreed to.
Question proposed: "That the Bill do now pass."
I thank the contributors to this interesting debate. I wish the INPC a fruitful future in its new business arrangement, which I am sure it will have. I also thank Mary Austin and Denis Murphy of the Department, who are with me today and did all the legwork, and Martin Brennan, the assistant secretary in charge of that section. I am grateful to the Whips of the House for their assistance.
I thank the Minister and her officials for the way they dealt with our queries and presented the facts to Members. As usual, the Minister has an encyclopaedic knowledge of the legislation and everything pertaining to it. She came top of the class.
I thank the Minister and her officials for the fine way in which this legislation was presented. It appears to be a good deal and, as usual, the Minister made her presentation in an open, courteous and knowledgeable fashion. She is always willing to deal with any question or matter raised. It has been a good day's work.
I also thank the Minister. Like Senator Costello, I admire the open and positive way this Minister deals with matters and ensures everybody understands all aspects of what has to be done. I thank the Members of the House for taking all Stages of this Bill today. I hope we can return the compliment at another time.
Question put and agreed to.