Pobal is a not for profit company which was originally established by Government in 1992 as Area Development Management (ADM) Ltd. Charitable status was granted to the company by the Revenue Commissioners on the 20th November 1996. In 2005 ADM was re-named Pobal. In accordance with Section 40 of the Charities Act, 2009, Pobal was entered onto the Register of Charitable Organisations on 16 October 2014.
The basis for Pobal having charitable status is tied to the objects of the Company, which are specified in its Memorandum and Articles of Association. I am satisfied that Pobal is fully compliant with the relevant legislative requirements including those of the Charities Act, 2009.
On its own initiative, Pobal undertook a review of its charitable status and in that regard sought independent legal advice on the matter. The review has now concluded. The Board of Pobal met in May 2019 to finalise their discussions relating to the review. I understand that it was decided by the Board that it was appropriate for the company to retain its charitable status. An update on the review was provided to my officials at an Oversight Meeting in June. I am satisfied that Pobal have considered the matter thoroughly and have acted appropriately on the findings of the review.