Seanad debates

Tuesday, 17 December 2002

National Development Finance Agency Bill, 2002: Second Stage.

 

Section 10 provides that the Minister can advance money from the Central Fund to the agency or a company formed under section 5, subject to such terms and conditions as the Minister may determine. The aggregate of advances outstanding at any time cannot exceed €250 million. The agency can advance money to a company formed under section 5 subject to such terms and conditions as it may determine. The money advanced either by the agency or the Minister can be used to make an equity investment in such a company.

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