Fergus O'Dowd (Louth, Fine Gael) | Oireachtas source

That amendment makes it clear that one share shall be owned by Irish Water and the remaining shares shall be divided between the Departments of the Environment, Community and Local Government, and Communications, Energy and Natural Resources. Neither Minister can dispose of his or her share. We addressed this on Second Stage and I made it clear in a previous debate that there will not be privatisation of Irish Water. The sale of any asset is already prohibited in existing law, but we are putting this into the Bill to copperfasten the view we all hold - Sinn Féin, Fianna Fáil, Fine Gael and Labour - that it cannot and will not be privatised. I would have no worries on that. On that basis I urge the Senator to support our later amendment.