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Ireland

Nitrigin Eireann Teoranta Act, 2001

What is this act about?

This law allows the Minister for Finance to pay off certain debts of Nítrigin Éireann Teoranta and repeals previous laws related to this company.

Who it applies to: Nítrigin Éireann Teoranta (the "Company"); The Minister for Finance and the Minister for Enterprise, Trade and Employment.

At a glance

Country
Ireland
Area of law
Commercial and corporate law
Articles
8
Source
irishstatutebook.ie
Text retrieved
Explanation updated

What does this act regulate?

  • The discharge of Nítrigin Éireann Teoranta's financial obligations by the Minister for Finance.
  • The amendment of the National Treasury Management Agency Act, 1990.
  • The funding source for payments made under this Act.
  • The repeal of several Nítrigin Éireann Teoranta Acts from 1963 to 1993.

Who does this act apply to?

  • Nítrigin Éireann Teoranta (the "Company").
  • The Minister for Finance and the Minister for Enterprise, Trade and Employment.

What are the key points?

  • The Minister for Finance can enter into agreements to discharge the Company's obligations to financial institutions.
  • Total payments by the Minister for Finance for these obligations cannot exceed £200,000,000.
  • The Company will not be liable to the Minister for Finance for these discharged obligations.
  • The Worker Participation (State Enterprises) Acts, 1977 and 1988, will cease to apply to the Company on a day appointed by the Minister.

Commercial and corporate law

8
Registry of Friendly Societies Act, 1936
Transport Act, 1966
Shannon Free Airport Development Company Limited (Amendment) Act, 1989
Industrial and Commercial Property (Protection) (Neuchatel Agreement) Act, 1947
Irish Shipping Limited (Amendment) Act, 1984
Industrial Development Act 2009
European Communities and Swiss Confederation Act, 2001
Industrial Grants (Amendment) Act, 1964

Commercial and corporate law

Legal text

Legal text
Contents (8)
  1. Section 1
  2. Section 2
  3. Section 3
  4. Section 4
  5. Section 5
  6. Section 6
  7. Section 7
  8. Section 8

Nitrigin Eireann Teoranta Act, 2001 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 2001 Nitrigin Eireann Teoranta Act, 2001 Nitrigin Eireann Teoranta Act, 2001 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 Open PDFOscail PDF Print Full ActPriontáil an tAcht Iomlán Number 21 of 2001 NITRIGIN EIREANN TEORANTA ACT, 2001 ARRANGEMENT OF SECTIONS Section

Section 1

Interpretation.

Section 2

Discharge by Minister for Finance of certain obligations of Company.

Section 3

Amendment of First Schedule to National Treasury Management Agency Act, 1990.

Section 4

Provision of moneys out of Central Fund for payments under or by virtue of this Act.

Section 5

Non-application.

Section 6

Repeals.

Section 7

Expenses.

Section 8

Short title.

Acts Referred to Finance Act, 2000 2000, No. 3 National Treasury Management Agency Act, 1990 1990, No. 18 Nítrigin Éireann Teoranta Act, 1963 1963, No. 2 Nítrigin Éireann Teoranta Act, 1970 1970, No. 4 Nítrigin Éireann Teoranta Act, 1975 1975, No. 24 Nítrigin Éireann Teoranta Act, 1977 1977, No. 35 Nítrigin Éireann Teoranta Act, 1981 1981, No. 12 Nítrigin Éireann Teoranta Act, 1987 1987, No. 22 Nítrigin Éireann Teoranta Act, 1993 1993, No. 3 Nítrigin Éireann Teoranta Acts, 1963 to 1993 Worker Participation (State Enterprises) Act, 1977 1977, No. 6 Worker Participation (State Enterprises) Acts, 1977 and 1988 Number 21 of 2001 NÍTRIGIN ÉIREANN TEORANTA ACT, 2001 AN ACT TO ENABLE THE MINISTER FOR FINANCE TO DISCHARGE CERTAIN OBLIGATIONS OF NÍTRIGIN ÉIREANN TEORANTA, TO REPEAL THE NÍTRIGIN ÉIREANN TEORANTA ACTS, 1963 TO 1993, AND TO PROVIDE FOR CONNECTED MATTERS. [3rd July, 2001] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Interpretation.

1.—(1) In this Act— “Company” means Nítrigin Éireann Teoranta; “Minister” means Minister for Enterprise, Trade and Employment.

(2)In this Act— (a) a reference to a subsection is a reference to the subsection of the section in which the reference occurs, unless it is indicated that reference to some other section is intended, and (b) a reference to any other enactment shall, unless the context otherwise requires, be construed as a reference to that enactment as amended or adapted by or under any other enactment, including this Act.

Discharge by Minister for Finance of certain obligations of Company.

2.—(1) The Minister for Finance may, after consultation with the Minister, enter into agreements, containing such terms and conditions as the Minister for Finance considers appropriate, for the discharge by the Minister for Finance of the Company's obligations to financial institutions incurred by the Company under financial contracts.

(2)Payments by the Minister for Finance under agreements entered into pursuant to subsection (1) shall not in total exceed £200,000,000.
(3)Subject to subsection (2), the Minister for Finance may discharge the obligations referred to in subsection (1) that are the subject of agreements under that subsection on the terms and conditions specified in the agreements.
(4)Neither the entering into an agreement by the Minister for Finance under subsection (1) nor the discharge by him or her of an obligation under subsection (3) shall impose any liability on the Company to the Minister for Finance in respect of the agreement or discharge.
(5)In this section, “financial contract” means a contract made between a financial institution and the Company providing for— (a) the raising of money by the Company by means of loans or debt instruments, or (b) any transaction of a normal banking nature.

Amendment of First Schedule to National Treasury Management Agency Act, 1990.

3.—The First Schedule to the National Treasury Management Agency Act, 1990 , is amended by the insertion after paragraph (p) (inserted by section 157

(6)of the Finance Act, 2000 ), of the following paragraph: “(q) section 2 of the Nítrigin Éireann Teoranta Act, 2001.”.

Provision of moneys out of Central Fund for payments under or by virtue of this Act.

4.—All moneys required by the Minister for Finance to meet amounts payable by him or her under or by virtue of this Act shall be advanced out of the Central Fund or the growing produce thereof.

Non-application.

5.—(1) Notwithstanding any provision of the Worker Participation (State Enterprises) Acts, 1977 and 1988, those Acts shall cease to apply to the Company and accordingly the directors of the Company appointed under section 15 of the Worker Participation (State Enterprises) Act, 1977 , shall cease to hold office.

(2)This section shall come into operation on such day as the Minister may by order appoint.

Repeals.

6.—(1) The following are repealed— (a) the Nítrigin Éireann Teoranta Act, 1963 , (b) the Nítrigin Éireann Teoranta Act, 1970 , (c) the Nítrigin Éireann Teoranta Act, 1975 , (d) the Nítrigin Éireann Teoranta Act, 1977 , (e) the Nítrigin Éireann Teoranta Act, 1981 , (f) the Nítrigin Éireann Teoranta Act, 1987 , and (g) the Nítrigin Éireann Teoranta Act, 1993 .

(2)This section shall come into operation on such day as the Minister may by order appoint.

Expenses.

7.—(1) The expenses incurred by the Minister 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.

(2)The expenses incurred by the Minister for Finance in the administration of this Act shall be paid out of moneys provided by the Oireachtas.

Short title.

8.—This Act may be cited as the Nítrigin Éireann Teoranta Act, 2001.

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