Vol. 510 No. 3
133 Mr. Currie asked the Minister for Public Enterprise the reason an application for shares in Telecom Éireann plc from a couple (details supplied) resident in Northern Ireland was refused; and if she will make a statement on the matter. [22407/99]
The security laws of other countries, including the UK, restricted our ability to send information on the share offer, including registration material, prospectus and mini-prospectus and application forms, into their jurisdictions. This was an issue on which we took extensive legal advice. The procedure we adopted was in line with the practices in other similar European share offers.
People in other EU countries could, of course, apply for shares provided the funds involved, whether cheque, banker's draft or direct debit, were drawn in Irish pounds or euros on a bank or building society account in Ireland. In the case of the application from the couple referred to by the Deputy, payment was by means of a cheque drawn on a bank outside the jurisdiction and the application was, therefore, rejected.
