Derek McDowell (Labour)

I move amendment No. 33:

In page 13, subsection (1), line 30, to delete "The" and substitute "After the respective appointed days the".

The amendment relates to the issuing of share capital. It intends to clarify that the share capital will not be issued until such time as the Cork and Shannon authorities are up and running. I have never understood how Departments decide on how much share capital to issue in a share company, particularly when the Minister for Finance is the sole shareholder in the company. It has never been clear to me why it was decided that 38,000 shares should be issued. I assume it could be of relevance if there were to be any disposal or part disposal of shares in the future. It might also be important if an ESOT of some kind were to be formed within the company. Perhaps those who decided on this number thought of those issues but, if not, perhaps the Minister could explain the thinking behind it because I have never understood it.