Oireachtas Joint and Select Committees
Thursday, 26 February 2015
Public Accounts Committee
Business of Committee
10:00 am
Mr. Seamus McCarthy:
Yes. I just draw attention to an unsanctioned loan taken by one of Horse Racing Ireland's subsidiaries. It is a relatively small sum. Horse Racing Ireland has the sanction of the Department to borrow up to €40 million on condition that any specific element of borrowing is subject to departmental approval and it did not seek that approval. We note this as an irregularity.
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