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Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Let us address that. The deficit in the pension in 2013 was €6.8 million and in 2014 it was €10.4 million.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Why?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: We understand that. How do you address it?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Where are you getting the funds from?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Part of this €10 million to €14 million increase in funding will go directly to the pension fund.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: How much will go to the pension fund?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: How much is going to the pension fund?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Can I ask the Comptroller and Auditor General whether that is an adequate amount to put in to address this gap?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Are you satisfied with that as an accounting strategy?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: If you had a liability of €10.8 million and you decided to put €500,000 into it this year, is that enough?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: I think he is saying it is not enough.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: You have an actuary-----

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: What is the projection for 2015 on this figure?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Yes.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: How did that occur?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: That causes-----

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: You reckon €500,000 from the allocation will go to that.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: On page 37 of the accounts there are details of the shareholding of Bord na gCon, the sub-companies. Mullingar is 51% minority interest. Who owns the other share?

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: I know you have a lot to do and you are rebuilding and so on but surely you have to know who the shareholders are.

Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)

John McGuinness: Can you send that in to us?

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