Dáil Éireann Debate, Tuesday - 4 November 2014
1024. Deputy Mattie McGrath asked the Minister for the Environment, Community and Local Government if he will clarify who precisely has ownership of Irish Water in view of the fact that it is listed as a private company limited by shares; if he will list the shareholders of Irish Water; and if he will make a statement on the matter. [41518/14]
Amharc ar fhreagra1057. Deputy Fergus O'Dowd asked the Minister for the Environment, Community and Local Government the position regarding issues raised (details supplied) regarding Irish Water; and if he will make a statement on the matter. [41992/14]
Amharc ar fhreagraI propose to take Questions Nos. 1024 and 1057 together.
The Water Services Act 2013 provides for the establishment of Irish Water as a subsidiary of Bord Gáis Éireann, conforming to the conditions contained in the Act and registered under the Companies Acts. Section 4 provides that Irish Water is registered as a private company limited by shares under t he Companies Act.
Section 5 of the Act provides that one share in Irish Water shall be issued to Bord Gáís Éireann (now Ervia) with the remaining shares allocated equally between the Minister for the Environment, Community and Local Government and the Minister for Finance. Accordingly, Irish Water is in full State ownership. Subsection 5(6) of Act, as amended by Section 46 of the Water Services (No. 2) Act 2013, prohibits each of the three shareholders from disposing of their shareholding in Irish Water and thus places a statutory prohibition on the privatisation of Irish Water.
The powers conferred on Irish Water by sections 25 and 26 of the Water Services Act 2013 are limited to the performance of its statutory functions. Section 25 is a standard provision, and does not provide unlimited powers but rather relates to the performance of functions conferred by the Oireachtas. Similarly, section 26 allows Irish Water to obtain information relevant to the performance of its functions. The guarantee of borrowing, provided for in section 13 of the Act, is a standard provision for State bodies.
