Oireachtas Joint and Select Committees

Thursday, 6 April 2017

Public Accounts Committee

2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Waterford Institute of Technology: Financial Statements 2013-2014

9:00 am

Professor Willie Donnelly:

Yes. That was declared in the first engagement with the institute. The institute knew who the shareholders were. We were attempting to create a campus company. The institute knew the majority of the shareholders were members of the institute. The funding originated from Enterprise Ireland, which had to sign off on the transfer, and it also knew who the sponsors were. It knew they were members of the institute. All of that information was openly declared to both Enterprise Ireland, which had funded the research, and to the institute which was negotiating with the company.

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