Results 3,341-3,360 of 11,242 for speaker:Noel Dempsey

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: Once people are given shares, one cannot tell them what they can do with them. The Deputy referred to Eircom where the ESOP has made a substantial amount of money. Despite what I hear at various times about workers' interests during takeovers, when the workers had the shares, they did not seem to mind how they were bought and sold, or to whom they were sold, as long as they made a profit.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: My understanding is that the ESOP applies to full-time employees. Deputy Broughan covered the point I wished to make in regard to ESOPs in general and I will not labour it. Shares are bought and sold in the internal market within the ESOP. In regard to Deputy Durkan's concerns, there is no danger of the company taking its eye off the ball in terms of being more concerned about trading in...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: I move amendment No. 2: In page 3, line 9, before "AND" to insert the following: ", TO PROVIDE FOR THE AMENDMENT OF THE TURF DEVELOPMENT ACT 1998,". The substantive amendment, No. 101, is to raise Bord na Móna's borrowing limit to €400 million. The upper limit of €100 million has remained unchanged since the passing of the Turf Development Act 1998. The core business of Bord na Móna...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: I thank Deputies for their contributions and their support of this amendment. Give or take a few years, peat contracts with the ESB are due to expire in approximately 15 years, by 2020. The peat supply business is still Bord na Móna's main business with the ESB. If Deputies look at the strategic plan, the company can remain in its current position until 2020 or 2025 and then go out of...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: Questions were asked about the difference between Bord na Móna, the plcs and the semi-State companies that are not plcs. The major difference is one of reporting and due diligence that must be pursued. There is not much difference in regard to governance but there is some. Whether a company is a plc or not, in the context of what Deputy Broughan asked, if it wants to expend a significant...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: It depends on the valuation of the company. Too high a gearing would not be allowed because the shareholders would have to have final approval and if the gearing was too high, it would be refused. That is the safeguard that is in place and, in addition, the directorate would have responsibility. The norm in these matters is roughly a 50% to 60% gearing.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: I move amendment No. 3: In page 3, line 9, before "AND" to insert the following: ", TO MAKE PROVISION AS RESPECTS THE EFFECT OF CERTAIN AMENDMENTS OF THE PLANNING AND DEVELOPMENT ACT 2000 MADE BY THE PLANNING AND DEVELOPMENT (STRATEGIC INFRASTRUCTURE) ACT 2006". This amendment is being made to remove any doubt about the status of existing consents granted for certain large scale...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: Some people have a funny idea of what constitutes local democracy. I heard a former Fine Gael councillor in the area refer to 100 people in the area opposing this project from a total population of 10,000.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: I do not want to get into a confrontation with the Deputy. If that is a definition of democracy, unfortunately, we will get nothing done in this country. We cannot get 100% approval from everybody, everywhere to everything.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: The Deputy, as a sensible man, knows it is not feasible. With regard to sitting down face to face, Shell gave its word it would not go onto the site for 18 months and it left the site for 18 months to try to facilitate the safety review, which was carried out by an independent organisation recognised by everybody except the Shell to Sea campaign as being independent and one of the top...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: The sequence of consents and planning is included and clearly laid out in section 182(c) of the Planning and Development (Strategic Infrastructure) Act. As I have said in the Department and as one of the Deputies mentioned, there is a need, although it is not something that will be done this side of an election, to have a review of the different Acts, which include the Continental Shelf Act,...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: Glen Campbell.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: I do not want to rehash the points I made in my previous contribution. Deputy Cowley accused me of trying to make out I am an innocent bystander but I do not know where he gets that from.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: Just because I do not row in behind the Deputy does not mean I am sitting on my hands. I have statutory functions which I have discharged. I have gone beyond them to try to meet the concerns that people had locally.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: The Deputy is entitled to disagree but I am also entitled to put on record that he is wrong. I went out of my way to listen to the concerns people had and to meet those concerns.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: The fact that Members on the Opposition benches do not acknowledge it is something I cannot do anything about. Deputy Cowley can make all sorts of allegations inside and outside the House but I have a statutory function over the consents and statutory duties to discharge as a Minister, which I have done. I have gone beyond that to try to meet people's concerns. There was no need for me to...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: Nevertheless, we paid CPI the courtesy of allowing Advantica to analyse its report in detail. The response is at the back of the Advantica report, which Deputy Cowley appears not to have seen. He might read it and see why I did not, and still do not, think much of the CPI report.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: Mr. Moore's report was on the initial planning application to An Bord Pleanála, which considered it very carefully and decided not to accept its recommendation. It was fully considered. The only people who seem to think the CPI view should be considered are those who constantly say "No" to everybody else. Deputy Durkan and Deputy Broughan raised a question, which Deputy Broughan tried to...

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: I understand Millward Brown IMS carried out that poll. It showed that 70% of the people are in favour of Shell recommencing work on the project immediately.

Energy (Miscellaneous Provisions) Bill 2006: Report Stage (18 Oct 2006)

Noel Dempsey: It was a scientifically conducted poll.