State Payments to Bula Shareholders
The Minister reported £7.155 million paid to Bula shareholders under the acquisition legislation and said the final payment would not change. Dr. Browne challenged the arrangement, arguing the State could not compel development even if planning permission were granted.
asked the Minister for Industry, Commerce and Energy the total amounts of State money paid so far to Bula Limited or its directors; and if it is intended to alter the amount of the further payments, if any.
Comment on this
A total amount of £7,155,000 has so far been paid to the shareholders of Bula Limited in respect of the acquisition of shares in Bula Limited under the provisions of the Bula Limited (Acquisition of Shares) Act, 1977. It is not intended to alter the amount of the final payment.
Comment on this
Is it a fact that, arising out of this agreement, £10 million was paid and that under this agreement, even if planning permission is given for the mining of this orebody, nothing can be done by the State unless Roche decides to go ahead, that he can take his £10 million and do nothing?
Comment on this
If the Deputy insists on using private names in the House I will have to ask him to withdraw.