Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

The point is that NewERA is not a holding company. The shares are held in all the companies mentioned by the Deputy by the line Minister in each case. NewERA advises the line Minister as to the outcome of a Government proposal. There is no question of NewERA doing anything other than giving advice. The shares are owned by the Minister in each case. With Irish Water, there are three shareholders, including the company and the two Ministers. The Bill prohibits the sale of those shares and they cannot be disposed of. There is no question of Irish Water ever being privatised under existing legislation.