Bernard Durkan (Kildare North, Fine Gael)

I move amendment No. 47:

In page 13, line 3, after "Finance" to insert "subject to conditions pertaining at that time".

This amendment might be useful. The Bill states: "A direction that relates to the disposal of any assets or surpluses of a subsidiary may only be given with the consent of the Minister for Finance", subject to conditions pertaining at the time. We discussed this amendment earlier and my colleague, Deputy Broughan, felt that might interfere too much in the internal affairs of the agency.

I tabled the amendment to add another tier of safety, so to speak, and to try to ensure the conditions pertaining at the time are borne in mind. In 1987, another State agency, the IDA as it was then called, was given instructions to dispose of property throughout the country. I felt that decision was wrong and that the property would have to be bought back at some later stage. That decision was taken for cogent reasons, just as another decision had to be taken in 1981 to ensure the solvency of the country. That is the reason my amendment states "subject to conditions pertaining at that time" and because an evaluation of the conditions prevailing at any given time can have two possible outcomes. First, one could read the situation incorrectly and, second, one could read it by anticipating conditions in three to five years, or in the short to medium term. Without wishing to get involved in the day-to-day running of the authority, I must say I can remember a number of instances during my time in this House in which assets were disposed of by subsidiaries. This did not always work out as desired.

Notwithstanding that we are only ordinary legislators and have no expertise in any particular area, we learned from the hard school of life and saw many decisions taken at certain times that may have had regard for some of the relevant circumstances pertaining but which may have missed a vital clue. This happens regularly and this is the sole reason I tabled my amendment. It merits consideration and I am interested in hearing the Minister's response.

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