Seanad debates
Tuesday, 17 December 2002
National Development Finance Agency Bill, 2002: Second Stage.
The Minister for Finance will have powers to make advances from the central fund to the new agency or a special purpose company. In addition, NDFA may advance money to an SPC. State authorities will also have powers to convey, assign or transfer land or other property, not including equity holdings, to a special purpose company formed by NDFA. The purpose of these powers is to ensure that there is sufficient latitude in the arrangements to allow NDFA as wide a range of financing options as possible, including the option of exploiting the potential of land and other State assets to generate resources to finance priority infrastructural projects.
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