Alan Kelly (Labour)

I move amendment No. 22:

In page 3, between lines 29 and 30 to insert the following new subsection:

"(6) It shall be a condition of an application under this section that an applicant shall agree that in the event of financial support under this Act being availed of from State resources, the applicant (if a limited company) shall issue shares to the Minister for Finance to a value equivalent to the amount paid by the State under the financial support.".

This is a simple amendment with a major impact. Effectively, if an institution applies under this scheme it will issue shares equivalent to the amount paid by the State so there is some come back for the taxpayer, showing some faith for the role the State is pursuing.