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Dáil Éireann díospóireacht -
Wednesday, 29 Jun 1994

Vol. 444 No. 6

Written Answers. - Settlement of Accounts of Public Bodies.

Michael Creed

Ceist:

64 Mr. Creed asked the Minister for Enterprise and Employment the plans, if any, he has to introduce legislation which would provide for interest payments where the payment terms in a public sector contract are not observed.

The Task Force on Small Business recommended that legislation be introduced to require public bodies to settle their accounts by the end of the month following issue of an invoice. Where they fail to do so, interest would be payable at 1.25 per cent a month currently charged by the Revenue Commissioners on overdue accounts.

I have recently established a Small Business and Services Division within my Department to follow-up on the recommendations of the task force and the proposal will receive consideration in this context.

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