Seán Power (Kildare South, Fianna Fail)

I thank Deputies from all sides of the House for their help and support in advancing the Gas (Amendment) Bill, which proposes to increase the statutory borrowing limit of Bord Gáis Éireann from €1.7 billion to €3 billion. When the Bill was introduced it was pointed out that its enactment would give Bord Gáis Éireann the ability to legally amass funds to develop the strategic direction set out in its five year corporate plan to 2012 and beyond. The Bill proposes to amend section 23 of the Gas Act 1976 which provides for borrowings by Bord Gáis Éireann for capital purposes. There were no amendments to the provisions of the Bill on Committee Stage. There was broad discussion of the Bill on Second Stage and on Committee Stage there was approval from all Members. Again, I thank Members for their co-operation in the safe passage of the Bill through the House.

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