Results 6,341-6,360 of 18,851 for speaker:Fergus O'Dowd
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: I move amendment No. 21:In page 10, to delete lines 31 to 54 and in page 11, to delete lines 1 and 2 and substitute the following:13.—(1) (a) In relation to borrowings by the Board under section 12, the Minister for Finance, after consultation with the Minister, may guarantee, in such formand manner and in such money (including money in a currency other than the currency of the State)...
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: I apologise. I had the wrong page open. Amendment No. 21 provides that the Minister for Finance may guarantee the borrowings made by Irish Water or Bord Gáis for the purposes of the Bill. The provision of a guarantee of the borrowings of a semi-State company is a common provision included in legislation establishing many other State bodies and companies. This provision provides that...
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: The figure of €500 million is in the legislation.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: It is all the costs to the company. I presume it is everything. I understand that the maximum it can borrow at any one time will be €500 million.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: No, there is no problem.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: This is the maximum borrowing that the company can actually make. Regardless of where it borrows from or in whatever currency, that is the maximum it can borrow. Clearly, however, it will be trying to borrow in the best market for taxpayers.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: In the UK, the regulator fixed the price of water for a five-year period but it was varied within that period because of inflation.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: Yes. It was therefore tied into it. To answer Deputy Stanley's question, the troika agreement states that it must commence by 2014. However, the Government has made no decision as to when charging will commence. That is what is in the troika's timetable.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: Not necessarily.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: The Bill gives the regulator power to commence the work and to consult on all these issues. As regards the point raised earlier by Deputies Catherine Murphy and Stanley, when a report is laid before the House, it is up to Members to read it should they wish to do so. For example, when I was on the committee dealing with transport, we brought in CIE representatives 12 times over a two or...
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: Sure.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: Yes.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: The regulator will have a responsibility in legislation to have consumers' interests at the very heart of it. I could not imagine, therefore, that it would be a runaway train of cost increases. Everything will have to be tested properly, publicly and transparently. This Bill allows the regulator to start because it has no statutory powers at the moment. I wish to reassure Deputies that...
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: I move amendment No. 23:In page 11, between lines 2 and 3, to insert the following:14.—(1) All money from time to time required by the Minister for Finance to meet sums which may become payable by him or her under section 13 shall be advanced out of the Central Fund or the growing produce thereof. (2) The Minister for Finance may, for the purpose of providing for advances out of the...
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: The purpose of the amendment is to delete section 16. This section is a standard corporate governance provision included in legislation for establishing State bodies. Accordingly, I cannot accept this amendment. It is a standard corporate governance provision providing that Uisce Éireann will keep accounts in a form to be approved by the Minister, with the consent of the Ministers for...
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: We oppose the amendment.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: I cannot accept the amendment.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: If it is helpful to the Deputy, the Government does not have any role in decisions regarding amendments. This is a procedural matter for officials of the House.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: Some 42%.
- Water Services Bill 2013 [Seanad]: Report and Final Stages (7 Mar 2013)
Fergus O'Dowd: If I could be helpful-----