Michael Ring (Mayo, Fine Gael) | Oireachtas source

I thank Deputies for their contributions. As they acknowledged, the Bill has been before the Oireachtas joint committee, a process that has been of considerable help. Deputies have raised a number of issues that I will bring to the attention of the Minister, Deputy Donohoe, but I will reflect on a couple of them now.

The transfer order to be made under the Bill will be a short and straightforward one nominating the day of transfer. The detail is in the Bill. I have heard Deputies' opinions about the Oireachtas joint committee engagement. They were pleased with it.

Due diligence is under way. This will provide a complete picture of the financial position. In terms of consultation, there have been detailed discussions with the companies and council executives. As regards capital expenditure, Government policy is clear that no funding is available for a commercial company, irrespective of the shareholder. Regarding the corporate governance of a transferred company, the Bill spells out the role of the elected members, the local authority chief executive and the company.

Deputy Ellis referred to the need for democratic oversight and highlighted the OECD reports on the matter. He also referred to the commercial importance of the ports. Therein lies the balance when a company transfers. We will try to balance commercial needs with democratic oversight. The Bill provides a number of important new powers to elected members. Under the other transfer model, everything is run like any other council function. All accounts must be submitted to elected members who may call in chairpersons and CEOs to discuss administration generally.

Deputies queried the lateral model of transfer in respect of particular ports. The Minister and I welcome their views on what model is most appropriate. I assure them that we are in listening mode. Regarding public ownership of our ports, there is no question of the national ports policy moving away from the current model. However, that does not rule out increased private investment if elected members so decide.

Deputy O'Dowd raised a number of important and positive points about ports' potential. I thank him for his comments on Drogheda. Deputy Doyle rightly referred to the importance of our ports. The Minister and I share his views.

I wish to address Deputy Ó Cuív's question on why Drogheda and Galway were not considered as ports of national significance.

See this speech in context