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

The amendment states that the funds will transfer, with a full and comprehensive table of all moneys transferred. I understand there will not be any money actually transferred, that any balance will be offset against other charges. Cash transfers will not take place. On the question of transparency, I do not believe that this needs to be included in the legislation because the local authority will be clear on the assets being transferred and the Minister will be required to sign a memorandum for each of the assets. A total of €11 billion of assets will be transferred and I am assured by Irish Water that this information will be available on its website. The process will be transparent because the Minister will be required to sign the order; the county councils will know what they are transferring; the information will be available on the Irish Water website. Therefore, I see no issue about transparency and I ask the Senator to consider what I have said.