Ruairi Quinn (Dublin South East, Labour) | Oireachtas source

I move amendment No. 63:

In page 43, subsection (1)(b), lines 31 and 32, to delete all words from and including "subject" in line 31 down to and including “Finance.” in line 32 and substitute the following:"subject to any directions given by the Minister for Finance.".

Section 46 deals with the deposit of moneys held by an education and training board. Under the provision in the published Bill, a board may deposit moneys with a credit institution on such terms as it may agree with that institution and subject to the consent of, and any directions given by, the Minister for Finance. It is considered that this double requirement of consent and directions is unnecessary and has the potential to cause confusion. Amendment No. 63has the effect of simply making the deposit of monies subject to any directions given by the Minister for Finance and will remove the need for consent to individual transactions.

With regard to amendment 64, the Bill provides that an education and training board, having considered a proposal from the chief executive to borrow money, may do so with the consent of the Minister for Public Expenditure and Reform and the Minister for Finance, or with the consent of the Minister for Education and Skills acting in accordance with any requirements or directions of these Ministers. The amendment simplifies this procedure by providing that the board may borrow money with the consent of the Minister for Education and Skills and having regard to any directions of the other two Ministers. There will be one line of communication which will be to contact the Department of Education and Skills. If we must sanction money being borrowed we will obtain clearance from the Minister for Public Expenditure and Reform and the Minister for Finance. The ETB itself would not have to go down this road.