Oireachtas Joint and Select Committees

Thursday, 18 May 2017

Public Accounts Committee

Bord na gCon: Financial Statements 2015 (Resumed)

9:00 am

Mr. Michael Murnane:

There is another matter. When I joined the board the overdraft had to be secured because we needed the cash to survive. The bank imposed an upper limit on prize money of €5.7 million. Even if the board was to win the lottery the bank would not allow us to increase prize money beyond that €5.7 million.

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