Enda Kenny (Mayo, Fine Gael) | Oireachtas source

Furthermore, some uncertainty could arise for privately owned group water schemes, which receive considerable State funding, as to whether their status is changed or not.

The Water Services Act 2013 provides for the establishment of Irish Water as a subsidiary of Bord Gáis Éireann and specifies that it should conform to the conditions set out in the Act and be registered under the Companies Acts. Section 4 of the Act provides that Irish Water be registered as a private company limited by shares under the Companies Acts. Section 5 provides that one share of Irish Water shall be issued to Bord Gáis Éireann, which is now Ervia, with the remaining shares allocated equally between the Minister for the Environment, Community and Local Government and the Minister for Finance. As Ervia is a fully State-owned company, Irish Water is accordingly in full State ownership. Section 5(6) prohibits each of the three shareholders from disposing of its shareholding in Irish Water and thus places a statutory prohibition on the privatisation of Irish Water. It will never be privatised and no party in this House would ever put that down as part of its programme. These are the reasons that we will not support the Sinn Féin Bill.

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