Vol. 416 No. 6
97 Mr. T. O'Sullivan asked the Minister for Finance if he will outline his intentions regarding the future of the Industrial Credit Corporation and the Agricultural Credit Corporation, and if he will make a statement on the matter.
Legislation is pending in the case of both the Agricultural Credit Corporation and the Industrial Credit Corporation. In the case of the former, a Bill will be circulated shortly, while proposals for legislation in the case of the latter are at present being examined in my Department. In both cases, the legislation will provide for increases in authorised borrowing limits, and for a broader definition of banking operations as applied to ACC and ICC.
Both banks are trading profitably. While a purchaser was sought for the State's shareholding in the ICC, no suitable proposal emerged. I am keeping this aspect under review.
