Dáil Éireann Debate, Tuesday - 29 May 2018
552. Deputy Tony McLoughlin asked the Minister for Transport, Tourism and Sport if the revised deed of covenant and deed of charge for the 2015 Sports capital programme allocation to a company (details supplied) has now been signed; when this funding will be sanctioned to be drawn down; and if he will make a statement on the matter. [23404/18]
View answerUnder various rounds of the Sports Capital Programme (SCP) almost €500,000 has been allocated to the organisation referred to by the Deputy. As is the norm for allocations of this scale under the SCP, a Deed of Covenant and a Deed of Charge is required to protect the Minister's investment.
The necessary deeds have been signed and sealed on behalf of the Minister and returned to the Chief State Solicitor's Office (CSSO) for their attention. As the organisation is a Limited Company, I understand the charge must be registered by the organisation's solicitor in the Companies Registration Office before formal approval can be provided to the organisation. The organisation's solicitor is aware of this requirement.
