Dáil Éireann - Volume 390 - 23 May, 1989

Written Answers. - State Holdings in Non-Public Sector Companies.

68. Mr. Bell asked the Minister for Industry and Commerce, in respect of non-public sector companies in which he holds either directly or indirectly shares or debenture stock as at 30 April 1989: (a) the names of such companies (b) the extent of State investment in such companies and (c) the amount of dividends received in respect of each such company in the years 1987 and 1989.

Minister for Industry and Commerce (Mr. R. Burke): The Minister for Industry and Commerce holds the entire issued share capital of the Insurance Corporation of Ireland plc (ICI) (under administration) through a non-trading holding company called Sealuchais Arachais Teóranta which was established specifically to acquire ICI before it was placed under administration. No State funds have been invested in ICI and no dividends have been paid by ICI since it was placed under administration in 1985.

In 1976 the Minister was presented with ten ordinary shares in Ivernia South Limited, a mineral exploration company. There has been no State investment in [778] this company and no dividends were received in respect of this company in 1987 or 1989.