In short
This law, the Irish Steel Holdings Limited (Amendment) Act, 1963, modifies the original Irish Steel Holdings Limited Act of 1960. It primarily increases the financial limits related to Irish Steel Holdings Limited.
What it regulates
- The share capital of Irish Steel Holdings Limited.
- The amount of shares the Minister for Finance can acquire in the Company.
- The limit on the Minister's guarantee for borrowed money by the Company.
Who it concerns
- Irish Steel Holdings Limited.
- The Minister for Finance.
Key points
- The share capital of the Company is increased from £4,000,000 to £6,000,000.
- The limit on the Minister for Finance's acquisition of shares in the Company is raised from £4,000,000 to £6,000,000.
- The limit on the Minister's guarantee for the Company's borrowed money is increased from £500,000 to £1,000,000.
- This Act and the Irish Steel Holdings Limited Act, 1960, can be cited together as the Irish Steel Holdings Limited Acts, 1960 and 1963.
📄 Legal text
Irish Steel Holdings Limited (Amendment) Act, 1963
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Irish Steel Holdings Limited (Amendment) Act, 1963
Irish Steel Holdings Limited (Amendment) Act, 1963
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Number 11 of 1963.
IRISH STEEL HOLDINGS LIMITED (AMENDMENT) ACT, 1963.
ARRANGEMENT OF SECTIONS
Section
1.
Interpretation and construction.
2.
Amendment of section 2 of the Principal Act.
3.
Amendment of section 3 of the Principal Act.
4.
Amendment of section 9 of the Principal Act.
5.
Short title, and collective citation.
Acts Referred to
Irish Steel Holdings Limited Act, 1960
1960, No. 32
Number 11 of 1963.
IRISH STEEL HOLDINGS LIMITED (AMENDMENT) ACT, 1963.
AN ACT TO AMEND AND EXTEND THE
IRISH STEEL HOLDINGS LIMITED ACT, 1960
. [9th April, 1963.]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—
Interpretation and construction.
1.—(1) In this Act “the Principal Act” means the
Irish Steel Holdings Limited Act, 1960
.
(2) This Act shall be construed as one with the Principal Act.
Amendment of section 2 of the Principal Act.
2.—Section 2 of the Principal Act (which provides that the share capital of the Company shall be £4,000,000) is hereby amended by the substitution of “£6,000,000” for “four million pounds”.
Amendment of section 3 of the Principal Act.
3.—Section 3 of the Principal Act (which imposes a limit of £4,000,000 on the acquisition of shares of the Company by the Minister for Finance) is hereby amended by the substitution of “£6,000,000” for “£4,000,000” in subsection (1).
Amendment of section 9 of the Principal Act.
4.—Section 9 of the Principal Act (which imposes a limit of £500,000 on the guarantee by the Minister of the repayment of moneys borrowed by the Company) is hereby amended by the substitution of “£1,000,000” for “£500,000” in subsection (3).
Short title and collective citation.
5.—(1) This Act may be cited as the Irish Steel Holdings Limited (Amendment) Act, 1963.
(2) The Principal Act and this Act may be cited together as the Irish Steel Holdings Limited Acts, 1960 and 1963.
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AI explanation based on the official legal text. Indicative, not a substitute for legal advice.