Seanad debates

Tuesday, 29 June 2004

Dormant Accounts (Amendment) Bill 2004: Second Stage.

 

6:00 pm

Photo of Labhrás Ó MurchúLabhrás Ó Murchú (Fianna Fail)

Their job will be to draw up a disbursement plan. We are talking about almost €0.25 billion, and I am prepared to accept the results of the Senator's research which suggests that it might be €0.5 billion. I hope that is the case. I would much prefer to see it going into the dormant accounts fund than resting in any of the financial institutions which have not always covered themselves in glory when it came to the interests of the community. If there is that amount of money, there is all the more reason to stabilise and structure it, and for having a more accountable process. I believe there will be a more accountable process. I do not see how any board which is not composed of full-time members, which is not served by full-time officials and which does not have a full-time chairman can possibly handle €500 million. It is evident that it should be integrated into present structures. One might ask why the change.

Comments

No comments

Log in or join to post a public comment.