Air Navigation and Transport Act, 1961

Air Navigation and Transport Act, 1961 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.ie) Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.ie) Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(s) or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1961 Air Navigation and Transport Act, 1961 Air Navigation and Transport Act, 1961 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Print Full ActPriontáil an tAcht Iomlán Number 25 of 1961. AIR NAVIGATION AND TRANSPORT ACT, 1961. ARRANGEMENT OF SECTIONS Section 1. Interpretation. 2. Increase of capital of the Company. 3. Advances to the Company out of the Central Fund. 4. Provision of money for advances to the Company out of the Central Fund. 5. Payment of interest on repayable advances. 6. Repayment of repayable advances. 7. Short title and collective citation. Acts Referred to Air Navigation and Transport Act, 1936 1936, No. 40 Air Navigation and Transport Act, 1946 1946, No. 23 Air Navigation and Transport (No. 2) Act, 1959 1959, No. 29 Number 25 of 1961. AIR NAVIGATION AND TRANSPORT ACT, 1961. AN ACT TO AMEND AND EXTEND THE AIR NAVIGATION AND TRANSPORT ACTS, 1936 TO 1959. [3rd August, 1961.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— Interpretation. 1.—In this Act— “the Company” means Aer Rianta, Teoranta, being the Company formed in pursuance of section 68 of the Air Navigation and Transport Act, 1936 ; “the Minister” means the Minister for Transport and Power. Increase of capital of the Company. 2.—Subsection (1) of section 21 of the Air Navigation and Transport Act, 1946 , is hereby amended by the substitution of “£13,000,000 (thirteen million pounds) divided into thirteen million shares of one pound each” for “£10,000,000 (ten million pounds) divided into ten million shares of one pound each” (inserted by the Air Navigation and Transport (No. 2) Act, 1959 , and any reference in Part IV of that Act to the said section 21 shall be construed as including a reference to that section as amended by this section. Advances to the Company out of the Central Fund. 3.—(1) For the purpose of enabling the Company to perform its functions, the Minister for Finance may, on the recommendation of the Minister, advance from time to time to the Company, out of the Central Fund or the growing produce thereof, such sums (not exceeding in the aggregate one million pounds) as the Company may from time to time request. (2) The sums advanced under this section shall be expended by the Company solely for the purpose of the functions of the Company. (3) The sums advanced under this section shall be repayable with interest in accordance with the subsequent provisions of this Act. Provision of money for advances to the Company out of the Central Fund. 4.—(1) The Minister for Finance may, for the purpose of providing for the advance of sums out of the Central Fund under section 3 of this Act borrow on the security of the Central Fund or the growing produce thereof such sums as shall be required for that purpose, and the Minister for Finance may, for the purposes of such borrowing, create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption, or otherwise as he thinks fit, and shall pay all moneys so borrowed into the Exchequer. (2) The principal of and interest on all securities issued under this section and the expenses incurred in connection with the issue of the securities shall be charged on and payable out of the Central Fund or the growing produce thereof. Payment of interest on repayable advances. 5.—(1) The Company shall pay to the Minister for Finance on every sum advanced to the Company out of the Central Fund under section 3 of this Act interest from the date of the advance of the sum until the sum is repaid at such rate as shall from time to time be appointed by the Minister for Finance in respect of the sum, and the interest shall be paid by half-yearly payments on such days in every year as the Minister for Finance shall from time to time appoint. (2) If the Company fails to pay to the Minister for Finance any interest payable by it under this section at the time appointed in that behalf under this section, the Company shall pay to the Minister for Finance interest at the rate appointed by the said Minister on the interest so unpaid from the time appointed as aforesaid until the unpaid interest is paid. (3) All interest paid to the Minister for Finance by the Company under this section shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct. Repayment of repayable advances. 6.—(1) For the purpose of providing for the repayment by the Company of the advances made to it out of the Central Fund under section 3 of this Act, the Company shall make to the Minister for Finance half-yearly payments commencing on such date, and continuing for such number of years and being of such amounts and payable at such times as the Minister for Finance, after consultation with the Minister, shall appoint, and different dates, numbers of years, amounts, and times may be so appointed in respect of different portions of the advances. (2) The several half-yearly payments to be made to the Minister for Finance by the Company under this section shall be applied by the said Minister as sinking funds for the repayment of the several portions of the advances in respect of which the half-yearly payments are made and when the Company has paid to the said Minister the full number of half-yearly payments appointed under this section in respect of any portion of the advances (together with any interest which may have become payable under this section in respect of any of the half-yearly payments) that portion of the advances shall be deemed to be fully repaid by the Company, without prejudice to the liability of the Company for any interest then unpaid in respect of that portion of the advances. (3) If the Company fails to pay to the Minister for Finance any half-yearly payment or portion of a half-yearly payment payable by it to the said Minister under this section at the time appointed in that behalf under this section, the Company shall pay to the said Minister on the half-yearly payment or portion of a half-yearly payment interest at such rate as shall from time to time be appointed by the said Minister in respect thereof from the time appointed as aforesaid until the payment or portion is paid. (4) All moneys paid by the Company to the Minister for Finance under this section in repayment of advances shall be paid into the Exchequer. (5) All sums paid by the Company to the Minister for Finance under this section on foot of interest shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct. Short title and collective citation. 7.—(1) This Act may be cited as the Air Navigation and Transport Act, 1961. (2) The Air Navigation and Transport Acts, 1936 to 1959, and this Act may be cited together as the Air Navigation and Transport Acts, 1936 to 1961. Privacy Statement Accessibility European Legislation Identifier (PDF) Open Data License Ráiteas Príobháideachais Inrochtaineacht Aitheantóir Eorpach Reachtaíochta (ELI) Ceadúnas Sonraí Oscailte Liosta Fianán © Government of Ireland. Oireachtas Copyright Material is reproduced with the permission of the Houses of the Oireachtas © Rialtas na hÉireann. Atáirgtear ábhar faoi Chóipcheart le cead ó Thithe an Oireachtais