Oireachtas Joint and Select Committees
Thursday, 30 November 2023
Public Accounts Committee
Business of Committee
9:30 am
Mr. Seamus McCarthy:
It is really a kind of residual thing. The Local Loans Fund was effectively for lending to local authorities before the Housing Finance Agency was established. All the loans have been repaid, so effectively there is nothing further to be transacted through that account, but it will have to be, if you like, eliminated through a legislative change. A nil account will have to be presented until such time as the legislative change is made.