In short
This law amends previous acts related to electricity, specifically concerning financial provisions for electricity projects and supply. It adjusts the financial obligations and limits set out in the Shannon Electricity Act, 1925, and the Electricity (Supply) Act, 1927.
What it regulates
- Amendments to financial limits for advances under the Shannon Electricity Act, 1925.
- Adjustments to the total amount of sums advanced to the Electricity Supply Board for interest and operational expenses.
- Relief from repayment liability for certain expenditures on navigation improvement.
- Clarification on what constitutes "the said advances" in relation to repayment obligations.
Who it concerns
- The Minister for Finance.
- The Electricity Supply Board.
Key points
- The maximum amount for advances expended on navigation improvement, for which there is an exception, is one hundred and thirty-two thousand, four hundred and fifty pounds.
- The total amount for advances under section 11 of the Shannon Electricity Act, 1925, is increased to five millions, eight hundred and thirty-five thousand pounds.
- The total amount of sums advanced to the Board for interest and operational expenses shall not exceed one hundred and fifty-six thousand pounds.
- The Electricity Supply Board is not liable to repay up to one hundred and thirty-two thousand, four hundred and fifty pounds of sums advanced for navigation improvement.
đ Legal text
Electricity (Finance) Act, 1929
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Electricity (Finance) Act, 1929
Electricity (Finance) Act, 1929
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Number 26 of 1929.
ELECTRICITY (FINANCE) ACT, 1929.
ARRANGEMENT OF SECTIONS
Section
1.
Amendment of section 11 of the Shannon Electricity Act, 1925.
2.
Amendment of section 12 of the Electricity (Supply) Act, 1927.
3.
Amendment of section 15 of the Electricity (Supply) Act, 1927.
4.
Short title.
Acts Referred to
Shannon Electricity Act, 1925
No. 26 of 1925
Electricity (Supply) Act, 1927
No. 27 of 1927
Number 26 of 1929.
ELECTRICITY (FINANCE) ACT, 1929.
AN ACT TO AMEND SUB-SECTIONS (4) AND (5) OF
SECTION 11
OF THE
SHANNON ELECTRICITY ACT, 1925
, AND
SECTIONS 12
AND
15
OF THE
ELECTRICITY (SUPPLY) ACT, 1927
. [24th July, 1929.]
BE IT ENACTED BY THE OIREACHTAS OF SAORSTĂT EIREANN AS FOLLOWS:â
Amendment of section 11 of the Shannon Electricity Act, 1925.
1.â(1) Sub-section (4) of
section 11
of the
Shannon Electricity Act, 1925
(No. 26 of 1925), is hereby amended by the insertion at the end of the said sub-section of the wordsâexcept on so much of such advances (but not exceeding the sum of one hundred and thirty-two thousand, four hundred and fifty pounds) as is expended on the improvement of navigation under the powers in that behalf conferred on the Minister by this Act.â
(2) Sub-section (5) of
section 11
of the
Shannon Electricity Act, 1925
, is hereby amended by the deletion of the words âfive millions, two hundred and ten thousand poundsâ now contained therein and the insertion in lieu of the words so deleted of the words âfive millions, eight hundred and thirty-five thousand pounds.â
Amendment of section 12 of the Electricity (Supply) Act, 1927.
2.â
Section 12
of the
Electricity (Supply) Act, 1927
(No. 27 of 1927), shall be construed and have effect as if the following sub-section were inserted therein in lieu of sub-section (2) now contained therein, that is to say:â
â(2) The total amount of the sums advanced to the Board under this section to meet the liability of the Board under this Act in respect of interest and arrears of interest on sums advanced out of the Central Fund under the
Shannon Electricity Act, 1925
(No. 26 of 1925), to the separate fund established under
section 11
of that Act and the expenses incurred by the Board in the operation, maintenance, and repair of the Shannon works under this Act shall not exceed the sum of one hundred and fifty-six thousand pounds.â
Amendment of section 15 of the Electricity (Supply) Act, 1927.
3.â(1) Notwithstanding anything contained in
section 15
of the
Electricity (Supply) Act, 1927
(No. 27 of 1927), the Electricity Supply Board shall not be under any liability to repay to the Minister for Finance so much (not exceeding the sum of one hundred and thirty-two thousand, four hundred and fifty pounds) of the sums advanced at any time out of the Central Fund under the
Shannon Electricity Act, 1925
(No. 26 of 1925), to the separate fund established under
section 11
of that Act as is expended on the improvement of navigation under the powers in that behalf conferred on the Minister for Industry and Commerce by the last-mentioned Act or to pay interest to the Minister for Finance on so much as aforesaid of the said sums so advanced.
(2) The expression âthe said advancesâ where the same occurs in
section 15
of the
Electricity (Supply) Act, 1927
, shall be construed as not including any sums for the repayment of which the Electricity Supply Board is relieved of liability by this section.
Short title.
4.âThis Act may be cited as the Electricity (Finance) Act, 1929.
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