In short
This law amends previous acts related to the Shannon Free Airport Development Company Limited, primarily by increasing the financial limits for share subscriptions, grants, and advances to the Company.
What it regulates
- The maximum amount the Minister for Finance can subscribe in shares of the Company.
- The total amount of grants that can be given to the Company.
- The total amount of advances the Minister for Finance can provide to the Company.
- The remuneration and allowances for the chief officer of the Company.
Who it concerns
- The Shannon Free Airport Development Company Limited.
- The Minister for Finance.
- The Minister for Industry, Commerce and Energy.
- The Minister for the Public Service.
Key points
- The aggregate amount the Minister for Finance may subscribe in shares of the Company is increased to £45,000,000.
- The aggregate amount of grants to the Company shall not exceed £22,000,000.
- The aggregate amount of advances to the Company shall not exceed £22,000,000.
- The chief officer's remuneration and allowances are determined by the Company with the approval of the Minister for Industry, Commerce and Energy and the consent of the Minister for the Public Service.
📄 Legal text
Shannon Free Airport Development Company Limited (Amendment) Act, 1978
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1978
Shannon Free Airport Development Company Limited (Amendment) Act, 1978
Shannon Free Airport Development Company Limited (Amendment) Act, 1978
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Number 3 of 1978
SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED (AMENDMENT) ACT, 1978
ARRANGEMENT OF SECTIONS
Section
1.
Interpretation.
2.
Amendment of section 2 of the Principal Act.
3.
Amendment of section 8 of the Principal Act and section 2 of the Shannon Free Airport Development Company Limited (Amendment) Act, 1970.
4.
Advances to the Company by the Minister for Finance.
5.
Remuneration etc. of chief officer of the Company.
6.
Short title and collective citation.
Number 3 of 1978
SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED (AMENDMENT) ACT, 1978
AN ACT TO AMEND AND EXTEND THE SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED ACTS, 1959 TO 1974. [7th March, 1978]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
Interpretation.
1.—(1) In this Act—
“the Act of 1974” means the
Shannon Free Airport Development Company Limited (Amendment) Act, 1974
;
“the Company” means the Shannon Free Airport Development Company Limited;
“the Principal Act” means the
Shannon Free Airport Development Company Limited Act, 1959
.
(2) The Shannon Free Airport Development Company Limited Acts, 1959 to 1974, and this Act shall be construed as one.
Amendment of section 2 of the Principal Act.
2.—So much of section 2 of the Principal Act (as amended by section 2 of the Act of 1974) 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 £25,000,000 is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate of the amounts so subscribed shall not exceed £45,000,000.
Amendment of section 8 of the Principal Act and section 2 of the Shannon Free Airport Development Company Limited (Amendment) Act, 1970.
3.—Section 3 of the Act of 1974 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 the
Shannon Free Airport Development Company Limited (Amendment) Act, 1970
, shall not exceed £22,000,000.
Advances to the Company by the Minister for Finance.
4.—Section 4 of the Act of 1974 is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate amount of advances under
section 4
(1) of the
Shannon Free Airport Development Company Limited (Amendment) Act, 1963
, and advances under
section 4
of the
Shannon Free Airport Development Company Limited (Amendment) Act, 1961
, shall not exceed £22,000,000.
Remuneration etc. of chief officer of the Company.
5.—There shall be paid by the Company to its chief officer such remuneration and allowances as the Company, with the approval of the Minister for Industry, Commerce and Energy given with the consent of the Minister for the Public Service, shall determine.
Short title and collective citation.
6.—(1) This Act may be cited as the Shannon Free Airport Development Company Limited (Amendment) Act, 1978.
(2) The Shannon Free Airport Development Company Limited Acts, 1959 to 1974, and this Act may be cited together as the Shannon Free Airport Development Company Limited Acts, 1959 to 1978.
Acts Referred to
Shannon Free Airport Development Company Limited Act, 1959
1959, No. 36.
Shannon Free Airport Development Company Limited (Amendment) Act, 1961
1961, No. 31.
Shannon Free Airport Development Company Limited (Amendment) Act, 1963
1963, No. 27.
Shannon Free Airport Development Company Limited (Amendment) Act, 1970
1970, No. 9.
Shannon Free Airport Development Company Limited (Amendment) Act, 1974
1974, No. 21.
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AI explanation based on the official legal text. Indicative, not a substitute for legal advice.