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Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Is it €200 billion now?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: I am not going to dwell on this but I am right that there is an investment committee that advises on investments?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Yes.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Does that investment committee have external members?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: I am reading in the document that one of them is Ms Julie Sinnamon, CEO of Enterprise Ireland. Then we have Mr. Mark Ryan, company director and former manager-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: It is on page 56 of the annual report. Mr. Ryan is former managing director of Accenture Ireland. That is not the same company - perhaps the Chair can correct me - that came up in respect of IT, is it? I do not want to get a company's name wrong. I may have mixed this company up with the company for the IT for the Garda station. It is a different company, is it?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Is that spelled A-C-C-E-N-T-U-R-E?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Is that one and the same company about which questions have been raised in respect of IT and the Garda Síochána?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: That was the responsibility of the Garda Síochána in respect of procurement, but did it happen to be the company that benefited and got the roll-on contracts without procurement?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: That is the same company. Okay. I just wanted to clarify that. Then we have a member of the investment committee connected with Grant Thornton. Who chooses the external members?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Who chooses them initially?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: I got distracted because I am due to speak in the Dáil. I apologise. Will the Chair allow me to defer the rest of my time until after I come back?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: We will have to leave the questions to the Chairman.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: I was in the middle of-----

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: I refer back to the State Claims Agency. I raised the issue of rents this morning and I asked for a note on it. I am not blaming the witnesses as it is Government policy.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: I will come back to that. I want to stick to the rent first, then the investment committee and then the SCA. Is it Government policy that the NTMA must rent its headquarters?

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: I am failing to grasp this. I do not blame the witnesses. However, every week I sit here looking at rents for, say, Caranua at the Department of Education and Skills. Foras na Gaeilge did a business case which pointed out it was cheaper to buy a building and have a mortgage. There is something seriously wrong with the Government's policy in this regard. It is actively colluding in...

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Yes, up to five external people can be appointed. Only three external people have been appointed. Who appoints them? I was interrupted.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: They are appointed by the board of the NTMA.

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts (Resumed)
Chapter 23: Accounts of the National Treasury Management Agency (Resumed)
National Treasury Management Agency: Financial Statements 2017 (Resumed)
(12 Jul 2018)

Catherine Connolly: Those appointments are subject to approval by the Minister.

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