No. 11/1967:

AIR COMPANIES (AMENDMENT) ACT, 1967

ARRANGEMENT OF SECTIONS

1 Definitions .

2 Increase of limit on guarantees by Minister for Finance of borrowing by Aerlinte.

3 Short title and collective citation.

AN ACT TO INCREASE THE LIMIT ON THE GUARANTEES OF BORROWING BY AERLINTE EIREANN, TEORANTA, WHICH MAY BE GIVEN BY THE MINISTER FOR FINANCE.

[16th May, 1967.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

1.—In this Act—

"the Act of 1966" means the Air Companies Act, 1966 ;

"Aerlinte" means Aerlinte Eireann, Teoranta.

2.—The Minister for Finance shall not so exercise the powers conferred by section 5 (1) (which provides for the guarantee by the Minister for Finance of borrowings by Aer Lingus, Teoranta, and Aerlinte) of the Act of 1966 and section 4 (2) (which provides for the making of advances to Aerlinte by the Minister for Finance) of the Act of 1966 that advances to Aerlinte under the latter subsection together with the amount, or the aggregate amount, of principal which he may at any one time be liable to pay in respect of any guarantees under the said section 5 (1) for the time being in force in relation to moneys borrowed by Aerlinte together with the amount of principal (if any) which the Minister for Finance has previously paid in respect of any such guarantees and has not been repaid by that company exceeds eighteen million pounds and accordingly section 5 (3) of the Act of 1966 is hereby amended by the substitution of "eighteen" for "six".

3.—(1) This Act may be cited as the Air Companies (Amendment) Act, 1967 .

(2) The Act of 1966 and this Act may be cited together as the Air Companies Acts, 1966 and 1967.