Martin Ferris (Kerry North, Sinn Fein)
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Question 850: To ask the Minister for Agriculture, Fisheries and Food if the report of the special group on public service numbers on expenditure, in recommending that the Department of Agriculture, Fisheries and Food review the operations of Coillte with a view to realising optimal return through rationalisation, asset disposal and, possibly, privatisation, was contravening Coillte's status as a private company, and if he or his colleague the Minister for Finance have the power to act as recommended by the report [48548/10]

Brendan Smith (Cavan-Monaghan, Fianna Fail)
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Pursuant to Section 9 (1) of the Forestry Act 1988, Coillte Teoranta was incorporated on 8 December 1988 as a private company under the Companies Act 1963, that is to say, a company limited by shares. The shares are held by the Minister for Finance and myself as Minister for Agriculture, Fisheries and Food.

As a Shareholder, and in view of the fact that Coillte is the State forestry company, I have no difficulty with a recommendation to review the operations of Coillte. As the Deputy is aware, a Review Group on State Assets and Liabilities was established by the Minister for Finance last year to examine and provide advice on the proper stewardship of state assets and on opportunities for the better use of those assets. The outcome of that review is awaited.