Committee Reports > List of Committees > Joint > 1981 > Committee on Commercial State-Sponsored Bodies > Report No. 17 - Fóir Teoranta

IMEACHTAÍ AN CHOMHCHOISTE

PROCEEDINGS OF THE JOINT COMMITTEE

Dé Céadaoin, 8 Aibreán, 1981

Wednesday, 8 April, 1981

1. The Joint Committee met at 7.30 p.m.

2. Members Present.

The following Members were present:

Senator Eoin Ryan (in the Chair); Deputies Barry Desmond, James N. Fitzsimons, William Kenneally and Liam Lawlor; and Senators Patrick M. Cooney and Brian Hillery.

4. Draft Report on Fóir Teoranta.

The Chairman brought forward a Draft Report which was read as follows:—

(i) Paragraphs 1 to 10, inclusive, agreed to.

(ii) Paragraph 11 amended and agreed to, as amended.

(iii) Paragraph 12 amended and agreed to, as amended.

(iv) Paragraph 13 amended and agreed to, as amended.

(v) Paragraphs 14, 15 and 16 agreed to.

(vi) Paragraph 17 amended and agreed to, as amended.

(vii) Paragraphs 18 to 22, inclusive, agreed to.

(viii) Paragraph 23 amended and agreed to, as amended.

(ix) Paragraphs 24 to 27, inclusive, agreed to.

(x) Paragraph 28 amended and agreed to, as amended.

(xi) Paragraph 29 amended and agreed to, as amended.

(xii) Paragraph 30 agreed to.

(xiii) Paragraph 31 amended and agreed to, as amended.

(xiv) Paragraph 32 agreed to.

(xv) Paragraph 33 amended and agreed to, as amended.

(xvi) Paragraph 34 agreed to.

(xvii) Paragraph 35 amended and agreed to, as amended.

(xviii) Paragraphs 36 to 39, inclusive, agreed to.

(xix) Paragraph 40 amended and agreed to, as amended.

(xx) Paragraphs 41, 42 and 43 agreed to.

(xxi) Paragraph 44 amended and agreed to, as amended.

(xxii) Paragraph 45 agreed to.

(xxiii) Paragraph 46 amended and agreed to, as amended.

(xxiv) Paragraph 47 agreed to.

(xxv) Paragraph 48 amended and agreed to, as amended.

(xxvi) Paragraph 49 amended and agreed to, as amended.

(xxvii) Paragraph 50 amended and agreed to, as amended.

(xxviii) New Paragraphs

Following new paragraphs inserted after paragraph 50.

“51. In the course of a submission to the Committee, the Department of Finance stated, ‘In summary, Fóir Teoranta performs a most valuable function, on the basis of rational criteria, by helping industrial firms in temporary difficulties to survive and recover profitability. Its services are of particular value in times of exceptional economic difficulties.’ As a result of its review of the operations of Fóir, the Committee has come to the conclusion that the Department’s statement is fully justified.

52. For this inquiry the Committee appointed Mr. Edward Cahill, Senior Lecturer in Accounting and Finance at Trinity College, Dublin, as specialist adviser. The assistance he gave proved invaluable.”

(xxix) Appendices 1 and 2 agreed to.

Draft Report, as amended, agreed to.

Ordered: To report accordingly.

5. Adjournment.

The Joint Committee adjourned at 8.15 p.m.