May I mention this question which was raised regarding the 90 days? This is in order to bring the Corporation into line with modern practice. Most of the latter-day State companies which have been established do not have this particular period prescribed for them and I think this is not unreasonable. The Agricultural Credit Corporation have expanded their activities enourmously, not just in the total amount they are lending but in the number of loans they are making. I consider it would be a little restrictive to expect them to have their books ready, audited and submitted within three months.
From my experience as an accountant, I do not think many commercial concerns adhere to that sort of period. I can assure the Seanad that so far as we, the Department of Finance, are concerned we will not permit the Corporation to be dilatory in any way in submitting their accounts and report. On the other hand we do not think we should be unduly restrictive on them, because excessive restriction might interfere with their day-to-day operations and their amended programme.