Dáil Éireann Debate, Tuesday - 21 November 2017
530. Deputy Bríd Smith asked the Minister for Transport, Tourism and Sport the way in which the insolvency of a semi-State company such as Bus Éireann might occur; if such declaration is a function of his, the management or another agency; and the precise circumstances that would trigger such a declaration. [49367/17]
Amharc ar fhreagraBus Éireann is a company set up under the Companies Acts and is therefore subject, in principle, to legislative provisions applying to such companies in circumstances of insolvency. Section 7(10) of the Transport (Re-Organisation of Córas Iompair Éireann) Act, 1986, which established the three subsidiary companies of CIÉ, provides that a resolution for the voluntary winding up of a company shall not be adopted unless resolutions have been passed by each House of the Oireachtas consenting to such winding up.
I do not wish to speculate on the circumstances that would trigger such a declaration of insolvency. I believe Bus Éireann has a vital role to play in providing transport services and implementation of the April Labour Court Recommendation can provide for a successful and sustainable future for Bus Éireann. More generally, I have committed toward building upon the increased funding. I have already provided for both capital investment and PSO support for the public transport sector, in which the Company remains a key player.
