John McGuinness (Carlow-Kilkenny, Fianna Fail)
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Question 283: To ask the Minister for Agriculture and Food if the appropriate corporate entity has signed the legal agreement between Punchestown and his Department to protect the State's investment in the project; if she is satisfied with the progress being made in this regard relative to the financial accounts available; and if she will make a statement on the matter. [2943/05]

Mary Coughlan (Donegal South West, Fianna Fail)
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I can confirm to the Deputy that a revised legal agreement between the Department of Agriculture and Food and the three Punchestown trading companies was completed on 8 April 2004. I am satisfied with the progress made on this matter.

The corporate restructuring arrangement between Horse Racing Ireland and the Kildare Hunt Club is being progressed by the parties concerned. I am anxious that this corporate restructuring arrangement be implemented as soon as possible. I understand that it cannot be finalised until the question of the existence of a taxation liability is resolved. This is a matter which is outside my control.