Ms Shirley Groarke:

I do not have very much to add to Mr. Ó Coigligh’s comments as he has got it covered there. It is also helpful to make the distinction of what is in the current share structure of Irish Water, where the shares were divided up between Ervia and the Ministers. There is no division of the shares in the proposed structure. The Ministers will hold all of the rights to the shares and there is no split between economic and voting rights and nobody else holds those rights. Mr Ó Coigligh is right in that subclause (g) refers to the Ministers not being able to alienate the shares they have. I have nothing further to add.