Michael Moynihan (Cork North West, Fianna Fail) | Oireachtas source

I move amendment No. 2:

In page 16, to delete lines 12 to 15 and substitute the following:“29. Any disposal by BGÉ of its shares in an energy company shall not result in an increase of the ratio of net debt to shareholder's equity of BGÉ.”.

I previously tabled this amendment on Committee Stage. It deals with the question of where the debt will lie after the sale of Bord Gáis Energy and ensures the legislation divides the debt up properly, taking into consideration whether the bodies concerned will be able to sustain it. While we oppose the Bill, I ask the Minister to reflect on this issue because if the Government is determined to proceed with the sale, it is vital that the part of the company remaining in State ownership is not left with the debt burden.

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