Peter Burke (Longford-Westmeath, Fine Gael)
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The Department of Public Expenditure and Reform will remain the decision maker. MARA is carrying out the administration of the function. Existing provisions under the Department of Public Expenditure and Reform will remain in place and that Department will have the ultimate say on the disposal. We are not changing that. We are not giving the power to sell to MARA but the power to administer. The power to sell and dispose of the asset remains with the State and the Department of Public Expenditure and Reform. We are not changing any of those existing functions. It has happened, I am told, maybe five times in the last decade, in very rare instances. The State is the 100% interest here and that is critical.

To answer Deputy Cian O'Callaghan, it is the seabed that is referred to.