Michael Creed (Cork North West, Fine Gael)
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Question 175: To ask the Minister for Agriculture, Fisheries and Food when his attention was drawn to corporate governance issues at the Irish National Stud; the way in which his attention was drawn to any issues; if he will outline the specific breaches of corporate governance practices with which he has concerns; and if he will make a statement on the matter. [23835/10]

Michael Creed (Cork North West, Fine Gael)
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Question 179: To ask the Minister for Agriculture, Fisheries and Food the date he first requested that the chairperson of the board of the Irish National Stud furnish him with a report on allegations of misconduct and mismanagement at the stud; if he will make this report from the chairperson publicly available; and if he will make a statement on the matter. [23839/10]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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I propose to answer Question No. 175 and Question No. 179 together. In accordance with the provisions of the Code of Practice for the Governance of State Bodies, I received assurances annually from the Chairman of the Irish National Stud Company Limited that the Code was being adhered to. Arising from a newspaper article dated 18 September 2009, I wrote to the Chairman of the Irish National Stud Company Ltd. on that date seeking a full report on the matters raised in the article. I also wrote to the Chairman on 13 January 2010 in relation to certain other allegations which were made known to me. As the information contained in the reports provided to me may be the subject of legal proceedings and may contain commercially sensitive information, I am not in a position to make these reports publicly available.

Michael Creed (Cork North West, Fine Gael)
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Question 176: To ask the Minister for Agriculture, Fisheries and Food if he is satisfied that the board and chairperson of the Irish National Stud complied with the published cost of practice for the governance of state bodies; if the chairperson supplied his Department with a comprehensive annual report as stipulated in the code of practice; and if he will make a statement on the matter. [23836/10]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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In accordance with the provisions of the Code of Practice for the Governance of State Bodies, I received reports annually from the Chairman of the Irish National Stud Company limited, including assurances that the Code was being complied with. My Department monitors compliance of the Irish National Stud Company Limited with the terms of the Code of Practice. Specifically, my Department ensures that the annual report and audited annual accounts are submitted in a timely manner and, following presentation to Government, are laid before the Houses of the Oireachtas. It also ensures that the Chairman's annual statement of assurance contains the required information as set out in the Code. It is important to distinguish between the role of the Board, in meeting the requirements of the Code, and those of the Department, in monitoring compliance with the terms of the Code. It is not the responsibility of the Department to have in place a parallel system of management to that of the Board.

Michael Creed (Cork North West, Fine Gael)
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Question 177: To ask the Minister for Agriculture, Fisheries and Food when he first received the Flood report; when his attention was drawn to the existence of the Flood report; the way in which his attention was drawn to same; if he has read the report to date; when he read the report; and if he will make a statement on the matter. [23837/10]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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I did not receive a copy of the report referred to by the Deputy. I was informed on 29 January 2010 by the Chairman of the Irish National Stud Company Limited of the engagement by the Company of an independent party in relation to human resources matters. Human resources issues arising in the Irish National Stud Company Limited are matters for the Board of the Company.

Michael Creed (Cork North West, Fine Gael)
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Question 178: To ask the Minister for Agriculture, Fisheries and Food if he has traditionally maintained either an official or unofficial representative on the board of the Irish National Stud; if there was a person on the board who was specifically tasked with reporting to him; the parameters of any reporting procedure that was in place in that context; and if he will make a statement on the matter. [23838/10]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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In accordance with the legislation establishing the Irish National Stud Company Limited, the Minister for Agriculture, Fisheries and Food makes appointments to the Board of the Company having consulted with the Minister for Finance. The Directors are required to perform their tasks in accordance with Company law. I have made two appointments to date. The Chairman of the Board reports to the Minister for Agriculture, Fisheries and Food. Specifically, in accordance with the provisions of the Code of Practice for the Governance of State Bodies, the Chairman is required to submit an annual report, annual audited accounts and assurances that the Code was being complied with.

Michael Creed (Cork North West, Fine Gael)
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Question 180: To ask the Minister for Agriculture, Fisheries and Food when he expects to receive a report on the financial position of the Irish National Stud; if he has received this report to date; if this report will provide any further detail on the alleged failings in the area of corporate governance of the Irish National Stud; and if he will make a statement on the matter. [23840/10]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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My Department has on-going contact with the Irish National Stud Company Limited regarding its financial performance. In addition, in response to a specific request by me, the newly appointed Chief Executive Officer of the Company is preparing a report for submission by the Board to me on the manner in which the Board proposes to address the financial position of the Company.

Michael Creed (Cork North West, Fine Gael)
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Question 181: To ask the Minister for Agriculture, Fisheries and Food if, in view of the alleged corporate governance failings of the Irish National Stud, he has requested an independent investigation into these matters; and if he will make a statement on the matter. [23841/10]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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In accordance with the Code of Practice for the Governance of State Bodies, I received annual assurances from the Chairman of the Irish National Stud Company Limited confirming the Company complies with the Code.

I have also received separate assurances from the Chairman in response to specific enquiries arising from certain allegations made in relation to the Irish National Stud Company Limited.

Furthermore, I am awaiting a report which is being prepared by the newly appointed Chief Executive Officer of the Company on the manner in which the current financial position of the Company will be addressed by the Board. I have asked for a report from the National Stud on it's financial situation and I am awaiting that report.