Dáil Éireann Debate, Wednesday - 6 March 2019
318. Deputy Maurice Quinlivan asked the Minister for Culture, Heritage and the Gaeltacht if Údarás na Gaeltachta has the power to take equity stakes in client companies; and if she will make a statement on the matter. [10991/19]
View answerI wish to advise the Deputy that under the provisions of the Údarás na Gaeltachta Act 1979 (as amended), Údarás na Gaeltachta has the power to take equity stakes in client companies and does so occasionally. In that context, Údarás na Gaeltachta has informed me that investments are evaluated and made on a case by case basis.
Under current arrangements and prior to deciding whether or not to make an equity investment, a client company or potential new client company is required to provide Údarás na Gaeltachta with a full business plan which is subjected to a financial and, if necessary, technical assessment.
All of Údarás na Gaeltachta relevant investment decisions are made having regard to state-aid rules, including the market investor principle.
