Committee Reports > List of Committees > Dáil > 1990 > Committee of Public Accounts > Final Report - Appropriation Accounts 1988

APPENDIX 42

23 Bealtaine 1990.

Clerk,

Committee of Public Accounts.

A Chara,

When I appeared before the Committee on 15 March, 1990, I agreed to supply the Committee with information on a number of issues. This information is set out below:

(i)Sale of Oil Company Shares

Our records show that the Minister for Finance sold shares in seven oil companies and the names of these companies are as follows:

Aran Energy Ltd.

Atlantic Resources Ltd.

Bula Resources (Holdings) plc.

Conroy Petroleum and Natural Resources.

Ennex International plc.

Gaelic Resources plc.

Tuskar Resources Ltd.

(ii)Fees paid to An Post for managing the POSB

The agency payment for management of the POSB in 1988 was £7,946,343.

(iii)Unclaimed Prize Bond Prizes

An unclaimed prize is defined as one which remains unclaimed six months after the issue of the prize notification. A winning prize bond holder can claim his or her prize at any time. There is no restriction on the time taken to claim prizes. Unclaimed prizes are placed on deposit and, if and when claimed, the prize money and any interest earned is paid to the relevant bond holder(s).

The value of unclaimed prizes at the end of 1989 was £184,650.

Mise le meas,

SEAN P. CROMIEN,

Accounting Officer.

Department of Finance.