Ruairi Quinn (Dublin South East, Labour)
Link to this: Individually | In context

Question 211: To ask the Minister for Finance his plans to request banks (details supplied) to hand over their substantial art collection to the Arts Council for public display on a permanent basis in view of the guarantees he has put in place; and if he will make a statement on the matter. [36732/09]

Ruairi Quinn (Dublin South East, Labour)
Link to this: Individually | In context

Question 212: To ask the Minister for Finance if, in view of the fact that the Anglo Irish Bank is now State controlled, he will take the necessary steps to have their art collection of the bank handed over to the Arts Council with a view to having the various paintings and sculptures handed over to the municipal and country art galleries here; and if he will make a statement on the matter. [36733/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
Link to this: Individually | In context

I propose to take Questions Nos. 211 and 212 together.

The terms of the Government's guarantee are laid down in the Credit Institutions (Financial Support) Scheme 2008, pursuant to the Credit Institutions (Financial Support) Act 2008. There is no provision under the terms of the Scheme for the action suggested by the Deputy in relation to art collections of covered institutions. Under the terms of the Scheme, covered institutions pay a quarterly charge to the Exchequer in respect of the guarantee provided under the Scheme.

In the case of Anglo Irish Bank, the bank is being run on an arms length commercial basis by the Board of Anglo. Consequently, the management of assets of the bank, including the holding or display of art works, is a matter for the Board of the bank. This is in line with the position on such matters for other commercial State companies.