National Development Finance Agency (Amendment) Act 2007

Prescribing of State authority, etc.

9.— The Principal Act is amended by substituting the following for section 22:

“22.— (1) Where the Minister, following consultation with any appropriate Minister, is of the opinion that—

(a) having regard to the purposes of this Act, the functions of the Agency and the functions of the public authority concerned, it would be appropriate for a public authority, not being a State authority, to be so prescribed by order under this section, then he or she may, by order, prescribe the public authority for the purposes of paragraph 17 of the Schedule, or

(b) having regard to the amalgamation, dissolution or change of name of a State authority, a reference to a State authority specified in the Schedule ought to cease to have effect, then he or she may, by order, declare that it shall cease to have effect and, where appropriate, prescribe a public authority under paragraph (a) in lieu of such State authority.

(2) Where an order is proposed to be made under this section, a draft of it shall be laid before each House of the Oireachtas.

(3) The order shall not be made if a resolution disapproving of the draft is passed by either such House within the next subsequent 21 days on which it has sat after the draft is laid before it.

(4) In this section ‘public authority’ means—

(a) a person or body which at any time stood specified in the Schedule or was prescribed by order under this section for the purposes of paragraph 17 of the Schedule,

(b) a board, authority or other body (other than a company) established by or under statute,

(c) a company in which all the shares are held—

(i) by or on behalf of a Minister of the Government, or

(ii) by directors appointed by a Minister of the Government,

or

(d) a company in which all the shares are held by a board, authority or body referred to in paragraph (b) or by a company referred to in paragraph (c).”.