Corporate governance (original) (raw)
Corporate governance
Corporate governance deals with the ownership structure and procedures by which Gas Networks Ireland is directed and controlled.
Gas Networks Ireland was formerly a subsidiary of Ervia (formerly Bord Gais Éireann), a statutory corporation established by the Gas Act 1976 (as amended).
The Government decided on 20th October 2020 that, following the separation of Uisce Éireann (formerly Irish Water) from the Ervia Group, Ervia would integrate into Gas Networks Ireland so as to become a single entity. Uisce Éireann was legally separated from the Ervia Group on 1 January 2023. Ervia Integration took place on 1 June 2024 pursuant to the Gas (Amendment) and Miscellaneous Provisions Act 2024, such that all functions, assets and liabilities of Ervia on that date transferred to Gas Networks Ireland and Ervia was dissolved.
As a Designated Activity Company (limited by shares), Gas Networks Ireland's objects and powers are set out in its constitution, consisting of a memorandum and articles of association, which can be accessed below:
Gas Networks Ireland is also subject to the provisions of the Gas Acts 1976 to 2009 and associated legislation, and the Code of Practice for the Governance of State Bodies with respect to its corporate governance.
While day to day responsibility for management, operations and financial control is delegated on a defined basis, to the Chief Executive Officer, the Board of Gas Networks Ireland is ultimately accountable for the strategic direction and performance of Gas Networks Ireland.
Gas Networks Ireland is committed at all times to achieving the highest standards of corporate governance and ethical business conduct.