George Lawlor (Wexford, Labour)
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303. To ask the Minister for Public Expenditure and Reform if he will set out the name, location and extent of all lands currently vested in him, pursuant to Section 28 of the State Property Act 1954, in tabular form; the plans for the future utilisation of any of these lands; the specific powers he has under the State Property Act 1954; and if he will make a statement on the matter. [31377/25]

Kevin Moran (Longford-Westmeath, Independent)
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I am informed by the Office of Public Works (OPW) that Section 28 of the State Property Act 1954 (the Act) provides that land held by a company at the time of its dissolution becomes property of the State in the name of the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation (the Minister), subject to any encumbrances or charges affecting the land immediately before such dissolution. Property held by the company on trust for another does not devolve to the State. The OPW deals with the real property of dissolved companies on behalf of the Minister.

When a company that held land dissolves, the transfer of any interest in that property to the Minister is seamless by virtue of Section 28 of the Act. There are no changes to recorded registrations of ownership in Tailte Éireann. A company can be restored to the Companies Register up to twenty years after dissolution, and if restored the property reverts to it as if it had never been dissolved. This 'reverse transfer' is also seamless, and if one looked at the ownership records of such a registered property it would not be obvious that a property transferred in and out of State ownership due to the dissolution and restoration of the owning company.

The Minister's interest in property of dissolved companies is therefore often referred to as 'defeasible' as it is defeasible by company restoration for up to twenty years post dissolution. In reality, a very small percentage of companies that are dissolved are subsequently restored but the restoration option is there, and this is very relevant where land has a positive value.

There is no register of dissolved company land vested in the Minister by virtue of Section 28 of the State Property Act. The majority of the land that falls into this category is of very low value and mainly comprises common areas of housing developments and very small parcels of land that have little potential use on their own. If a property or piece of land that has a value, or a potential use, comes to the attention of the OPW it is usually held by a company that is capable of being restored, or there is a charge on the land which means it is possible that a bank will exercise its rights to recover money owed by the dissolved company.

A specific power the Minister has in these situations is to waive his interest, as provided by Section 31 of the Act, if it is considered appropriate in all of the circumstances. A small number of waivers are granted and these are more often in favour of a Local Authority.