asked the Minister for Agriculture and Food if his attention has been drawn to the closure of Balla Co-operative Marts Ltd. in County Mayo; to the widespread concern in the area due to the closure; to the hardship and possible financial ruin of many small farmers; and if he will make a statement on the matter.

I am aware that Balla Co-operative Mart Limited has ceased trading and is on offer for sale. I recognise that it is a matter of concern for everybody involved that this has occured.

I understand that all parties involved in the matter are fully conscious of the difficulties which the closure has created and that every effort is being made to achieve a satisfactory solution.

Given the extraordinary set of circumstances prior to the closure of this mart, would the Minister institute an inquiry to find out why the mart was operating when management knew it was insolvent for a considerable period, depriving now a large number of small farmers in the area of income from the sale of cattle which were bought under what I would describe as false pretences by the management of that institution?

It is not the function of the Minister, nor does he have the authority, to institute an inquiry of the nature referred to by the Deputy, but I can tell him that I understand discussions are under way with the farmer creditors and other creditors and that proposals are being considered which may mean that the losses of the creditors concerned will be reduced.

Let us now deal with other questions. Question No. 6.

May I ask a brief supplementary?

Very good, Deputy, but be brief, please.

Would the Minister consider making it a requirement in the future that marts have insurance or bonding to ensure that this problem will not arise again?

That raises a separate matter.

I would agree that it is absolutely essential that marts have insurance to protect themselves, their customers and creditors. I will consider making strong recommendations and, if necessary, introducing regulations to ensure that this is the case.