Oireachtas Joint and Select Committees
Thursday, 10 February 2022
Public Accounts Committee
2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 29 - Environment, Climate and Communications
National Broadband Plan Expenditure and Related Matters
9:30 am
Mr. Peter Hendrick:
There are two forms of security around those investor funds. There are the shareholder agreements between the shareholders, which stipulate the shareholders are wholly and severally liable for the funds, and then there is the project agreement with the Minister, whereby the shareholders are contractually bound to invest the money.