Committee Reports > List of Committees > Dáil > 1966 > Committee of Public Accounts > Interim and Final Report - Appropriation Accounts 1964 - 1965

APPENDIX XIXa.

AN FORAS TIONSCAL: REPAYMENT OF GRANTS.

Cléireach,

An Choiste um Chuntais Phoiblí.

With reference to your further enquiries arising from my note of 8 Lúnasa, 1966, in regard to the repayment of grants made by An Foras Tionscal there have been four cases to date which ought to have resulted in the repayment of grant moneys. These were cases in which the grantee Companies failed and went out of business before payment of the grants had been completed. Claims for repayment of the grants were made on the Liquidator or Receiver. In two cases no funds were available to meet the claims by An Foras Tionscal; in one case the Liquidation is not yet completed and in the fourth case, already mentioned in my previous note, an amount of £125 was recovered. The total amount which was recoverable in respect of grants paid to the four firms was £55,396.

Conditions which continue after payment of a grant has been completed provide that the fixed assets or shareholdings may not be sold or disposed of within specified periods without the consent of An Foras Tionscal. An Foras Tionscal may make it a condition of the giving of such consent that the grant will be repaid. This condition would not be made where the grant-assisted Company is taken over by another firm for an approved industry.

(Signed) J. C. B. MacCARTHY,

Department of Industry and Commerce.

30 Lúnasa, 1966.