Vol. 404 No. 1
30 Tomás Mac Giolla asked the Minister for Industry and Commerce if his attention has been drawn to the reported plans of SFADCo to dispose of their Irish holiday cottages en bloc to a property developer; if his sanction for this sale was sought by SFADCo; if such sanction was granted; and if he will make a statement on the matter.
The disposal of Rent an Irish Cottage plc. (RIC) is essentially a matter for the 1,700 shareholders of the company and a day to day matter for SFADCo, in its capacity as the major shareholder.
SFADCo is not required under its memorandum and articles of association to seek my sanction or the sanction of the Minister for Tourism and Transport, who has responsibility for tourism matters generally, in respect of a decision to dispose of its shareholding in RIC.
