asked the Minister for Industry and Commerce when he proposes to amend the Restrictive Trade Practices Acts, as promised in Chapter 10, Paragraph 6 of the Third Programme: Economic and Social Development, with a view to empowering the Fair Trade Commission to investigate restrictive practices in a wider field of economic activity; and whether such legislation will be accompanied by measures to secure an expansion of the Fair Trade Commission and a speeding up of its procedures.
Ceisteanna — Questions. Oral Answers. - Third Programme: Economic and Social Development.
83.
I intend to introduce amending legislation in the next session to widen the scope of the Fair Trade Commission as envisaged in the Third Programme and to make certain changes with a view to speeding up its procedures. While the extension of its purview will call for an expansion of the commission, there is adequate provision for such expansion in existing legislation.
84.
asked the Minister for Industry and Commerce whether, in view of the reference in the Third Programme: Economic and Social Development, Chapter 7, Par. 26, to the concern caused even in advanced countries with regard to the extent to which the growth of foreignpromoted industry may lead to an industrial structure controlled substantially from outside the country, he proposes to take any steps to establish a State holding company controlling the State-owned manufacturing enterprises which would have power to acquire Irish private firms where these firms are threatened with take-overs by foreign interests and where such take-overs might be contrary to the national interest.
The various aspects of foreign participation in Irish business are kept under constant review. Appropriate action will be taken if and when the need arises for dealing with the position which the Deputy has in mind. I am not satisfied that the establishment of a State holding company with the functions suggested is called for in this connection.
Would the Minister not agree that somebody should have power to act in cases where it may be contrary to the national interest that an Irish company should be taken over from outside the country and it would be much better that it should be taken over by the State here?
I have certain proposals in mind in regard to that situation which I think would be more effective than the holding company the Deputy envisages.
I look forward to hearing of them.