No. 27/1963:

SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED (AMENDMENT) ACT, 1963

ARRANGEMENT OF SECTIONS

1 Interpretation.

2 Amendment of section 2 of the Principal Act.

3 Amendment of 8 of the Principal Act.

4 Advances to the Company by Minister for Finance.

5 Payments in respect of houses provided by the Company.

6 Provision of moneys for advances out of the Central Fund.

7 Short title and collective citation.

AN ACT TO AMEND AND EXTEND THE SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED ACTS, 1959 AND 1961.

[3rd August, 1963.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

1.—(1) In this Act—

"the Act of 1961" means the Shannon Free Airport Development Company Limited (Amendment) Act, 1961 ;

"the airport" has the meaning assigned to it by the Principal Act;

"the Company" means the Shannon Free Airport Development Company Limited;

"house" includes any part of a building suitable for occupation as a dwelling;

"the Minister" means the Minister for Transport and Power;

"the Principal Act" means the Shannon Free Airport Development Company Limited Act, 1959 .

(2) The Shannon Free Airport Development Company Limited Acts, 1959 and 1961, and this Act shall be construed as one.

2.—So much of section 2 of the Principal Act, as amended by section 2 of the Act of 1961, as provides that the aggregate of the amounts which the Minister for Finance may subscribe under that section in taking up shares of the Company shall not exceed three million pounds is hereby repealed, and in lieu thereof, it is hereby enacted that the aggregate of the amounts so subscribed shall not exceed four million pounds.

3.—Section 3 of the Act of 1961 is hereby repealed, and in lieu thereof, it is hereby enacted that the aggregate amount of grants to be made to the Company under section 8 of the Principal Act shall not exceed two million pounds.

4.—(1) The Minister for Finance may from time to time, subject to the provisions of this section, make advances to the Company out of the Central Fund or the growing produce thereof to meet expenditure incurred by the Company (whether before or after the passing of this Act) in relation to the provision of houses and community services for the purposes of the industrial estate at the airport.

(2) The aggregate amount of advances under subsection (1) of this section and advances under section 4 of the Act of 1961 shall not exceed two million pounds.

(3) For the purposes of this section, the amount of the expenditure of the Company in relation to the provision of houses and community services shall be reduced by the amount of any grants received by the Company under subsection (2) of section 5 of this Act or the Housing (Financial and Miscellaneous) Acts, 1932 to 1962, in relation to the provision of houses.

(4) Advances under subsection (1) of this section shall be made on such terms as to repayment, interest and other matters as may be determined by the Minister for Finance.

(5) All sums paid by the Company in repayment of an advance under subsection (1) of this section or in pursuance of any term or condition subject to which an advance was made under the section shall be paid into or disposed of for the benefit of the Exchequer.

5.—(1) The Minister may, in any year, if he considers it necessary to do so, with the consent of the Minister for Finance, pay to the Company, out of moneys provided by the Oireachtas, a grant of such amount as the Minister, with the consent of the Minister for Finance may from time to time determine in respect of each house provided by the Company as part of a scheme for the provision of houses and community services for the purposes of the industrial estate at the airport.

(2) Where, in the case of a house provided by the Company, a grant would be payable under section 2 of the Housing (Loans and Grants) Act, 1962 , in respect of the house to a person or public utility society if the house were provided by the person or public utility society, the Minister may, subject to the provisions of that Act and with the consent of the Minister for Finance and the Minister for Local Government, pay to the Company, out of moneys provided by the Oireachtas, a grant not exceeding the amount of the grant which would be payable in the circumstances aforesaid under the said section 2.

(3) A grant under subsections (1) and (2) of this section may be paid in respect of the same house.

6.—Subsections (2) and (3) of section 3 of the Principal Act shall apply to the provision of moneys for the sums advanced out of the Central Fund under section 4 of this Act as they apply to the provision of moneys for the sums advanced out of the Central Fund under subsection (1) of the said section 3 of the Principal Act.

7.—(1) This Act may be cited as the Shannon Free Airport Development Company Limited (Amendment) Act, 1963 .

(2) The Shannon Free Airport Development Company Limited Acts, 1959 and 1961, and this Act may be cited together as the Shannon Free Airport Development Company Limited Acts, 1959 to 1963.