The Dublin Docklands Development Authority is a commercial semi-State body and has been financed from resources generated through the acquisition, development and sale of property. The Authority is established under the Dublin Docklands Development Authority Act 1997, which sets out the statutory functions and responsibilities of the Authority, including its financial reporting requirements.
My Department has a general oversight role in relation to the Authority, ensuring that it discharges its statutory mandate to revitalise and regenerate the Docklands area. The 1997 Act provides for a number of specific Ministerial oversight functions, for example,
the appointment of the Chairperson of the Authority, the other seven directors of the Executive Board, and members, of the Authority's Council;
sanction for borrowing up to an overall statutory limit of €127 million, with the agreement of the Minister for Finance,
the approval of Planning Schemes, and
determining the manner in which the Authority must keep its accounts and present audited accounts annually.
Under the provisions of the 1997 Act, the Authority must prepare an Annual Report and Audited Accounts for submission to the Minister prior to laying before both Houses of the Oireachtas. The Authority's accounts are audited by independent external auditors.