Transport Sub-Committee to consider Transport (Córas Iompair Éireann and Subsidiary Companies Borrowings) Bill 2012

12 December 2012  

The Bill seeks to:

• increase CIE’s borrowing powers for non-capital purposes from €107 million to €300m;
• allow CIE to charge any borrowings of the Group to property held by it or its subsidiaries, and
• streamline CIE borrowing powers into a single enabling provision for all forms of borrowing undertaken by CIE for non-capital purposes.  

Chairman of the Select Sub-Committee Tom Hayes TD says: “The financial difficulties at CIE have been well documented and are a source of concern to this Committee. Minister of State Kelly has special responsibility for public and commuter transport and tomorrow’s meeting will allow our Committee to consider the merits of this Bill, which proposes to significantly increase CIE’s borrowing powers.”

The meeting takes place tomorrow Thursday 13 December in Committee Room 3, Leinster House 2000, at 10 a.m.
Committee proceedings can be viewed online via this link.

For further information contact:
Paul Hand,
Houses of the Oireachtas,
Communications Unit,
Leinster House,
Dublin 2
P: +353 1 618 4484
M: +353  87 694 9926

Select Sub-Committee Membership

Deputies
Martin Ferris, Sinn Féin
Terence Flanagan, Fine Gael
Noel Harrington, Fine Gael
Tom Hayes (Chair), Fine Gael
Colm Keaveney, Labour
Seán Kenny, Labour
Mattie McGrath, Independent
Michael Moynihan, Fianna Fáil
John O'Mahony, Fine Gael