Oireachtas Joint and Select Committees

Thursday, 30 March 2017

Public Accounts Committee

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

9:00 am

Mr. Diarmuid Collins:

As I mentioned, we acquired the IMI company at no cost. UCC became the sole member, the other members having discharged themselves. As a subsidiary of UCC, the IMI sold its campus to UCC and then UCC as the parent company leased the campus back to the IMI. There was an inter-company transaction post the acquisition of IMI.