Fiona O'Malley (Dún Laoghaire, Progressive Democrats)

An uncharacteristic harmony has descended on the House, which I do not wish to disrupt. I refer to two aspects of the Bill: the necessity for the rush to bring it before the House and its content in regard to provision for our industrial development agencies.

Like other speakers, I regret that Bills come before the House at short notice because hasty legislation does not always make for the best legislation. However, I accept that the Government does not have much option when issues are highlighted at short notice. In protecting the State's assets and interests, the Government must act with haste in this instance. It is commendable that we have moved so quickly and found time in the schedule of the House to deal with the Bill.

This haste begs the question as to how the House orders its business. Ground rent is an issue that everybody talks about, like draining the River Shannon. However, many other Bills have been waiting for time in the House, which operates for just three days at a time. I accept that there was an urgency to introduce particular provisions to tighten up in this area so nefarious practices would not be accommodated. However, one would wish for a system whereby all legislation is constantly monitored, and Members had time to check for loopholes in legislation, rather than having loopholes found on behalf of property developers. Members, who are on the inside, so to speak, should consider legislation as it is being drafted or debated. They would spot any loopholes fairly quickly.

We should have a programme for reform of legislation. In my short time in the House, there has been quite a good deal of emergency legislation. All Members, including those on the Government side, regret that we have to bring in such rushed and hasty legislation. Nonetheless, when the purpose of legislation is to protect State interests and assets, we cannot but act in that way. Therefore, I welcome the harmony in the House in dealing with the Bill. It is magnanimous of the House that there does not appear to be opposition to it. We are doing our duty in protecting the possessions and assets of the State.

The Minister for Finance, Deputy Cowen, this morning described the situation as a "legal lacuna". Given that this legal void exists and has been identified, it is of the utmost importance that the Bill is passed quickly. It is our duty in the House to protect the State's assets from any potential nefarious practices. We do not know whether such practices would ensue but it is likely they would. However, we need to close loopholes when they are found.

The matter only came to Cabinet yesterday, where it was agreed time was of the essence. I commend the Minister for making a genuine effort in this regard. He is no doubt grateful that Members have acknowledged that he facilitated them with relevant briefings. As stated on the Order of Business this morning, those Members of the House who have been in Government in the past will recognise that a matter such as this requires an urgent response from all sides of the House, in particular when it serves to protect the interests of the House. Unfortunately, the House must act in haste at times.

On the specific content of the Bill, the industrial development agencies listed — IDA Ireland, Shannon Development and Údarás na Gaeltachta — play a necessary and valuable role in promotion and development in their respective areas of concern. I am sure all Members will join me in commending the work they have done over the years. They deserve and are entitled to expect the protection of the State.

The settlement to which the Minister referred earlier has serious implications for the IDA in terms of the execution of its statutory functions and the possible loss of value to the State in any sale of its land assets. There are implications for Shannon Development and Údarás na Gaeltachta in the operation of their property functions related to their industrial development. We have a duty to safeguard the ability of these valuable agencies to control the activities on their industrial estates and we must also ensure that the State's assets will be used for the purposes for which the agencies have been mandated. We must allow the agencies the ability to enforce other covenants and requirements while not being hampered in any way.

I welcome the Bill, but rather than have bits and pieces of amended legislation we must try to take a holistic approach to Bills and legislative reform.

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