Shannon Free Airport Development Company Limited (Amendment) Act, 1970
Acts of the Oireachtas
Source: Acts of the Oireachtas

num: 1
paragraphs: —(1) In this Act—
“the Act of 1961” means the Shannon Free Airport Development Company Limited (Amendment) Act, 1961 ;
“the Act of 1963” means the Shannon Free Airport Development Company Limited (Amendment) Act, 1963 ;
“the Act of 1968” means the Shannon Free Airport Development Company Limited (Amendment) Act, 1968 ;
“the airport” has the meaning assigned to it by the Principal Act;
“the Authority” means the Industrial Development Authority;
“the Company” means the Shannon Free Airport Development Company Limited;
“industrial undertaking” includes an undertaking ancillary to industry;
“the Principal Act” means the Shannon Free Airport Development Company Limited Act, 1959 .
(2) The Shannon Free Airport Development Company Limited Acts, 1959 to 1968, and this Act shall be construed as one.
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paragraphs: —(1) The Minister for Industry and Commerce, with the consent of the Minister for Finance, may, out of moneys provided by the Oireachtas, make grants to the Company to enable it to meet the running expenses of the Company in respect of its functions in relation to industrial development in the counties of Limerick, Clare (excluding the airport) and Tipperary (North Riding) and the county borough of Limerick.
(2) The Company in any expenditure of moneys paid to it under this section shall have regard to the general functions assigned to the Authority.
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paragraphs: —The Company shall not, in respect of an industrial undertaking other than at the airport, make grants or guarantee repayments of the principal of, or the payment of interest on, moneys borrowed by or for an industrial undertaking or provide any subsidy or other financial assistance.
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paragraphs: —(1) Notwithstanding section 3 of this Act, the Authority may delegate to the Company some or all of such powers as the Authority may have to provide financial assistance to or in respect of an industrial undertaking or in respect of housing for employees in industry in the counties of Limerick, Clare, Tipperary (North Riding) and the county borough of Limerick, and the Company may exercise any such powers so delegated.
(2) The cost of financial assistance under this section shall be defrayed from moneys at the disposal of the Authority.
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paragraphs: —The Company may let to persons who are not employed on the industrial estate at the airport dwellings which have been provided before the passing of this Act with the assistance of moneys made available under section 4 of the Act of 1961.
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paragraphs: —Section 4 of the Act of 1963 is hereby amended by—
(a) the substitution in subsection (3) of “the Housing Acts, 1966 and 1969, or any Act amending or extending those Acts,” for “the Housing (Financial and Miscellaneous) Acts, 1932 to 1962,” and
(b) the insertion after subsection (5) of the following subsection:
“(6) The Company may let to persons who are not employed on the said industrial estate, houses provided whether wholly or partly) out of moneys which have been or will be made available under subsection (1) of this section.”.
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paragraphs: —Section 5 of the Act of 1963 is hereby amended by—
(a) the insertion after subsection (1) of the following subsection:
“(1A) A grant under subsection (1) of this section may be paid in respect of a house whether or not it is occupied by a person who is employed on the said industrial estate.”,
(b) the substitution in subsection (2) for “section 2 of the Housing (Loans and Grants) Act, 1962,” of “the Housing Acts, 1966 and 1969, or any Act amending or extending those Acts,”,
(c) the substitution in subsection (2) for “that Act” of “the Housing Acts, 1966 and 1969, or any Act amending or extending those Acts,”, and
(d) the substitution in subsection (2) for “the said section 2” of “the Housing Acts, 1966 and 1969, or any Act amending or extending those Acts.”.
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paragraphs: —So much of section 2 of the Principal Act (as amended by section 2 of the Act of 1968) 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 eight million pounds is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate of the amounts so subscribed shall not exceed seventeen million pounds.
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paragraphs: —Section 3 of the Act of 1968 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 and section 2 of this Act shall not exceed ten million pounds.
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paragraphs: —Section 4 of the Act of 1968 is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate amount of advances under section 4 (1) of the Act of 1963 and advances under section 4 of the Act of 1961 shall not exceed ten million pounds.
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paragraphs: —The Schedule to the Principal Act is hereby amended—
(a) by the substitution of the following for paragraph 2:—
“2. (1) The Company shall keep, in such form as may be approved by the Minister for Industry and Commerce and the Minister for Transport and Power with the concurrence of the Minister for Finance, all proper and usual accounts of all moneys received and expended by it and, in particular, shall keep in such form as aforesaid such special accounts as the Minister for Industry and Commerce (or, in regard to tourism and aviation, the Minister for Transport and Power) shall direct.
(2) Accounts kept in pursuance of this section shall be submitted annually by the Company to an auditor for audit at such time as the Minister for Industry and Commerce, with the concurrence of the Minister for Finance, directs and the Company shall furnish a copy of the accounts as so audited, together with a copy of the auditor's report thereon, to the Minister for Industry and Commerce and to the Minister for Transport and Power and the Minister for Industry and Commerce shall, as soon as may be thereafter and after consultation with the Minister for Transport and Power, cause copies thereof to be laid before each House of the Oireachtas.”,
(b) by the substitution of the following for paragraph 3 (1):—
“3. (1) The Company shall, in each year, at such date as the Minister for Industry and Commerce directs, make a report to the Minister for Industry and Commerce and to the Minister for Transport and Power of its activities during the preceding year and the Minister for Industry and Commerce shall, as soon as may be thereafter and after consultation with the Minister for Transport and Power, cause copies of the report to be laid before each House of the Oireachtas.”, and
(c) by the substitution in paragraph 5 for “with the consent of the Minister” of “with the consent of the Minister for Industry and Commerce”.
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paragraphs: —This Act shall come into operation on such date as the Minister for Industry and Commerce appoints by order.
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paragraphs: —The expenses incurred by the Minister for Industry and Commerce in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas.
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paragraphs: —(1) This Act may be cited as the Shannon Free Airport Development Company Limited (Amendment) Act, 1970.
(2) The Shannon Free Airport Development Company Limited Acts, 1959 to 1968, and this Act may be cited together as the Shannon Free Airport Development Company Limited Acts, 1959 to 1970.