Dáil debates
Wednesday, 8 November 2006
National Oil Reserves Agency Bill 2006: Report Stage
1:00 pm
Noel Dempsey (Meath, Fianna Fail)
Amendments Nos. 34, 39, 44, 45, 48, 51, 53 to 59, inclusive, and 64 refer to day-to-day operational matters, which need to be looked after by the agency, not the Oireachtas. The issues raised are addressed in the Bill. For example, amendment No. 58 deals with superannuation schemes. The Bill provides that approved schemes be laid before the Houses of the Oireachtas and we have our own procedures after that to deal with them, which is correct. It is not up to the Dáil to approve such a scheme or to approve a pension for an employee to which he or she is entitled, which is suggested by amendment No. 59.
The Houses should not get involved in temporary borrowings because that is an internal matter for the company. Deputy Broughan tabled amendment No. 68, which is valid. Its intent is to make sure the collection and expenditure of the levy and revenue generating activities of NORA are reportable to, and investigable by, the Committee of Public Accounts but that is covered by the legislation. It provides that NORA must prepare annual accounts, which should include details of revenue earned and expenditure. The format of the accounts must be in accordance with company law and the Minister has a right to make additional requirements. All this is subject to scrutiny by the PAC and the Joint Committee on Communications, Marine and Natural Resources.
The Deputies are correct that a number of the amendments do not make sense from a commercial point of view and, perhaps, they could have been grouped together. Others do not make sense from the point of view of the internal workings of the agency, as Deputy Broughan stated. The remainder are covered by the Bill and I do not propose to accept any amendment.
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