Results 81-100 of 4,465 for speaker:Jim Walsh

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: It seems from sections 18(1) and 18(2) that a harbour company that wants to borrow will be required to get the approval of the county manager. Can the Minister clarify whether the county manager will be a director ex officio? I do not believe he will be. If he is not a director, this section of the Bill will make him a shadow director. I would like to know whether the fact that a...

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: Yes, a large amount of money. It is very difficult to value the assets of some of the port companies because they are in the form of fixed assets such as jetties. It is a bit like having a property: anybody valuing those assets would have to look at the income they were generating. I am wondering if that could become a hindrance to the development of the port. Very strict statutory...

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: I thank the Minister. He has clarified some of my questions. The assets of these companies would be difficult to value. We saw the balance sheets of the banks before the crash; they had no connection whatever with reality. I would have thought it prudent, if the State is taking over - even in the case of a semi-state company - to have at least a couple of valuations done on the assets as...

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: I know there will be a very substantial deficit in at least one of the companies. How is it proposed to deal with that?

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: I am sorry for pursuing this point. In the event of a decision to integrate the assets, so that the pension liability becomes the responsibility of the local authority, will the Minister recompense the local authority for that deficit?

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: It is a point of principle that people should not automatically be excluded from a board simply because they are councillors. There is no justification for that. People who go forward for councils are generally people who are interested in participation and making a contribution to various aspects of life in their localities. The Minister can correct me if I am wrong on the following....

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: What is the Minister's opinion not only on the acquisition of Dundalk Port by Dublin Port Company but also the prior acquisition of Greenore Port from the O'Rahilly family by Dublin Port Company and One51? Has this acquisition helped Greenore Port? The context of my questions is that Greenore Port is one of four deep-water ports we rely on to accommodate many of the panamax-type vessels...

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: It is a strategic port.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: I understand One51 is no longer involved in the port. I presume it is completely owned by Dublin Port. Is that correct?

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: Can the Minister clarify the ownership?

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: Dublin Port is no longer involved.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: With regard to the section, the reference to excluding elected or co-opted members of local authorities from serving on the board of the port company is an anomaly. If the Minister or I served on a local authority and it took over the assets of a port company, we would have a direct say on the port activities through debating in the council chamber. However, if the local authority takes...

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: That is not the case. For example, if Drogheda Port is taken over by Louth County Council and the ministerial order signs the assets over to the council, the corporate veil is removed and the port is no longer a legal entity separately. The assets are now owned by Louth County Council. The port continues to function in every respect as if it were a company and the elected members of Louth...

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: They will be. Wexford is doing it. It will be a shareholding by the local authority like any asset held by the local authority.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: It will be subject to debate on it at council level. If the council takes over shares of the company, however, the Bill does not allow the members to have similar input at board level. I do not see logic in that.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: Effectively it is the same operation.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: Of course it is.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: I am talking about the operation of it. The Minister is talking about the corporate structure, which I agree with.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: Yes.

Seanad: Harbours Bill 2015: Committee Stage (16 Dec 2015)

Jim Walsh: Why?