Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I assure Senator Walsh that section 9(1)(c) requires the consent by resolution of the elected council which is in line with the powers local authority members have in other financial matters. It is entirely consistent. On the point that Senator O'Neill put to me, the valuation of the shares would have to take place via expert advice that would have to be procured at that time. Anything that would happen to the shares would require the consent of the local authority but also the consent of the Minister. Any concerns people might have on the disposal or valuation of shares or any of the rights that could be conferred can be addressed not only through the scrutiny of the local authority, but also by virtue of the fact that the Minister's consent would also be required. That would happen in consultation with the Minister for the Environment, Community and Local Government and the Minister for Public Expenditure and Reform, thereby dealing with any issues of valuation that might arise in the future.