Brendan Howlin (Wexford, Labour)

I move amendment No. 42:

In page 13, before section 21, to insert the following new section:

28.—The Local Loans Fund Act 1935 is amended—

(a) in subsection (3) (amended by section 7 of the Local Loans Fund (Amendment) Act 1940) of section 3, by the insertion of ", with the approval of the Minister for Public Expenditure and Reform," after "the Minister shall",

(b) in subsection (2) of section 5, by the substitution of "the Minister may, as and when he thinks proper and having consulted with the Minister for Public Expenditure and Reform" for "the Minister may, as and when he thinks proper",

(c) in subsection (5) of section 5, by—

(i) the insertion of ", after consultation with the Minister for Public Expenditure and Reform," after "the Minister shall", and

(ii) by the insertion of "the Minister for Public Expenditure and Reform and" before "such other Minister.",

(d) in subsection (1) of section 8, by the insertion of ", and shall, from time to time, consult with the Minister for Public Expenditure and Reform in relation to the form of such accounts" after "in relation to the fund",

(e) in subsection (1) of section 17, by the insertion of ", after consultation with the Minister for Public Expenditure and Reform," after "The Minister may", and

(f) in subsection (2) of section 17, by the insertion of ", after consultation with the Minister for Public Expenditure and Reform," after "the Minister shall".

These amendments relate to the borrowing function of State bodies and the role of the Minister for Finance in consenting to such borrowing. This function is being transferred to the Minister for Public Expenditure and Reform. Similarly, if the Minister for Finance requires to be consulted about such borrowing, that function is transferred to the Minister for Public Expenditure and Reform. Where in any enactment previously the Minister for Finance was the person whose consent was required for a State body to borrow, it will henceforth be a matter for the Minister for Public Expenditure and Reform.

The reason for the long list of amendments is to list all the places where such borrowings would occur. The list covers everything from the Local Loans Fund Act to the District of Fergus Drainage Act, the Universities (Local Government) Acts and the Kilkenny Design Workshop Limited Act. That is why the recital is so long but in general the Minister for Public Expenditure and Reform will have the policy responsibilities for these bodies so it is important that Minister has the role of granting of consent for such bodies to borrow money.

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