Seanad debates
Tuesday, 17 December 2002
National Development Finance Agency Bill, 2002: Second Stage.
The NDFA also has powers similar to those of the Minister already described. The concept is to provide for the Minister to channel money to a company via the NDFA and provide for the NDFA, with the approval of the Minister, to use its own resources to fund a company wholly or in part. In the event of the NDFA having a surplus at some time in the future it may be appropriate to use such moneys to fund new projects. Any new company formed would require share capital. This amendment gives the Minister and the NDFA power to contribute to such share capital, which is essential.
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