Oireachtas Joint and Select Committees

Tuesday, 15 October 2019

Joint Oireachtas Committee on Housing, Planning and Local Government

General Scheme of the Land Development Agency Bill 2019: Discussion (Resumed)

Mr. Tom Dunne:

I may be out of my depth on this because it is a long time since I have studied accounts but my understanding is that land can be left on the account at the historic cost. Accounting conventions require that to be revalued periodically and, in any event, if it is going to be disposed of or transferred out, that would have to be done at market value. That is my understanding.