Derek Nolan (Galway West, Labour) | Oireachtas source

The Minister discussed the pensions policy and how it will come through the board. Irish Water is being set up so that it will be off-balance sheet so it can borrow. As a result, it is a private company with a majority public shareholding. It is publicly owned, although it is governed by private company law rules. I cannot think of any precedent where a private company would have its pension or pay structures legislated for in the House. It does not seem to make any sense whatsoever.

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