asked the Minister for Industry and Commerce whether the conditions usually insisted upon where licences are issued under the Control of Manufactures Acts were imposed in respect of the new manufacture licence issued to General Textiles, Limited, under date April 7th; whether, if there was a departure from precedent, he will indicate the extent of the departure and the cause for it, and whether he will state what steps have been taken to ensure that effective control of this concern will reside with Saorstát nationals.
Ceisteanna—Questions. Oral Answers. - Issue of Manufacture Licence.
The conditions usually insisted upon in cases where licences are issued under the Control of Manufactures Acts were imposed in respect of the New Manufacture Licence dated 7th April, 1936, issued to General Textiles. Ltd., and there was no departure from precedent therein.
It was because it was not possible to ensure that the effective control of the concern in respect of directorate and shareholding, as prescribed by the Control of Manufactures Acts, would rest with Saorstát nationals that it became necessary to issue a licence.
Do I understand that the Minister has sanctioned a financial arrangement in connection with this undertaking whereby an outside group will hold 50 per cent. of the capital and a Saorstát-nationals group will hold the other 50 per cent?
Yes.
Does the Minister propose to take steps at any subsequent date to secure that effective control of the undertaking will pass into the hands of Saorstát nationals?
We have issued a licence under the Control of Manufactures Act.
The Minister has approved an arrangement whereby 50 per cent. of the capital of this undertaking will be held by nationals and 50 per cent. by non-nationals. That will not ensure that Saorstát nationals will have effective control of the undertaking. Does the Minister propose at any subsequent date to require the company to rearrange its share allocation in such a way that effective control will pass into the hands of Saorstát nationals?
No. Once I issue a licence, it is irrevocable under the terms of the Act.
That means that there is not effective control by Saorstát nationals of this undertaking?
That is so.