Results 7,401-7,420 of 18,851 for speaker:Fergus O'Dowd

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: I believe "via" comes from the Latin word for "way". I think "Er" comes from Éire, it may be the Irish way. It is a name that was decided.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: The legislation recognises the change. The statutory instrument was signed on 20 June 2014.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: The Deputy need not tell me he likes something.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: I stand to be corrected, but I think it comes from "via", meaning "way", and that the Er comes from Éire and that it represents "the Irish way". It is better to leave this to the people who deal with names.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: My response will cover all the amendments in the grouping. The common theme for these amendments is the involvement of NewERA in the acquisition or sale of State assets. Amendments Nos. 14, 15 and 16 relate to the larger commercial semi-State bodies within NewERA's remit, while amendment No. 18 relates to other State bodies. A State body is a body established under law and controlled...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: Does the Deputy want me to read it all again?

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: First, NewERA is not being given any executive functions. These are a matter for Government. It is appropriate that Ministers should have the best possible commercial and financial advice available to them on all issues, including the acquisition or sale of assets. Once the decision to acquire or sell is made, Ministers should equally be able to use available expertise, so that would be a...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: The amendment would require the Houses of the Oireachtas to approve a request to NewERA to be involved. In other words, it would place an extra burden on the Minister or the Government to ask NewERA for an opinion on issues.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: The Government has a majority when elected so I presume a decision would be a matter for the Government in the first place. I presume that because it would be such a significant issue, the Oireachtas would have a view. I presume there would be a debate in the Dáil but it would be a matter for the Government or the Dáil to decide.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: It requires approval of the Government and it must have the support of the Dáil. If it did not have such support and made such a decision, I am quite sure a motion would be put down to contrary effect. Implicit in every Government decision is that it can be debated in the Oireachtas; the Minister is accountable to the Oireachtas, so there is no question of avoiding Oireachtas...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: When the Government is elected by the Oireachtas, it has the power-----

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: It is in two pieces of legislation. It was expressly included in the Irish Water Bill.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: The question was about other State assets and I am not quite clear on them.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: Not at all.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: NewERA advises but it has no executive authority. It acts on the request of the responsible Minister, and within the Irish Water legislation these are the Minister for the Environment, Community and Local Government and the Minister for Communications, Energy and Natural Resources, as Bord Gáis is an energy company. NewERA cannot do anything per se, other than respond to the requests...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: With respect, the question I was asked concerned Irish Water.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: The point is that NewERA is not a holding company. The shares are held in all the companies mentioned by the Deputy by the line Minister in each case. NewERA advises the line Minister as to the outcome of a Government proposal. There is no question of NewERA doing anything other than giving advice. The shares are owned by the Minister in each case. With Irish Water, there are three...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: It is implicit in the fact that the shares in those companies are owned by Ministers and not NewERA.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: The Bill states: The Agency shall, if a Minister of the Government who is a relevant Minister in relation to a designated body requests it to do so, provide project management services in relation to, or services consisting of overseeing— (a) any acquisition or disposal of any interest in, or any assets of, the designated body, or (b) any winding upThe ownership lies with the Minister,...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: National Treasury Management Agency (Amendment) Bill 2014: Committee Stage (1 Jul 2014)

Fergus O'Dowd: I will leave it at this, as we have laboured the point. The question is who owns the shares. The Minister owns the shares and not any of these advisory bodies. It is the Minister who decides. Obviously, it would have to be a Government decision, so there is no question of anything other than accountability, ownership and line responsibility resting with the Minister and, through the...