I move: "That the Bill be now read a Second Time".
The purpose of this Bill is to set up a statutory body, called Córas Beostoic agus Feola, to define its powers and to make provision for the financing of its work. A body called Córas Beostoic agus Feola Teoranta exists already. It was established in 1969 under the Companies Act and is a company limited by guarantee. It has no share capital and is entirely Exchequer-financed.
The main functions of Córas Beostoic agus Feola Teoranta, as set out in its memorandum of association, are to promote the export of cattle and sheep and the meat of cattle and sheep. This body will be wound up when the present proposals become law. I should like to record my appreciation of the work done by Córas Beostoic agus Feola Teoranta since its establishment. In spite of its limited resources and restricted brief it has made an important contribution to the very satisfactory growth achieved by the Irish livestock and meat export trade over the last ten years. Córas Beostoic agus Feola Teoranta has successfully promoted Irish beef and lamb abroad.