In short
This law amends previous acts related to the Shannon Free Airport Development Company Limited, primarily by adjusting the financial limits for share subscriptions, grants, and advances. It updates the maximum amounts of money that can be provided to the Company.
What it regulates
- The maximum amount the Minister for Finance can subscribe for shares in the Company.
- The total amount of grants that can be given to the Company.
- The total amount of advances that can be made to the Company.
Who it concerns
- The Shannon Free Airport Development Company Limited.
- The Minister for Finance.
Key points
- The aggregate amount the Minister for Finance can subscribe for shares in the Company is increased to twenty-five million pounds.
- The aggregate amount of grants to the Company shall not exceed seventeen million pounds.
- The aggregate amount of advances to the Company shall not exceed seventeen million pounds.
đ Legal text
Shannon Free Airport Development Company Limited (Amendment) Act, 1974
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Shannon Free Airport Development Company Limited (Amendment) Act, 1974
Shannon Free Airport Development Company Limited (Amendment) Act, 1974
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Number 21 of 1974
SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED (AMENDMENT) ACT, 1974
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 Act of 1970.
4.
Advances to the Company by Minister for Finance.
5.
Short title and collective citation.
Acts Referred to
Shannon Free Airport Development Company Limited (Amendment) Act, 1970
1970, No. 9
Shannon Free Airport Development Company Limited Act, 1959
1959, No. 36
Shannon Free Airport Development Company Limited (Amendment) Act, 1963
1963, No. 27
Shannon Free Airport Development Company Limited (Amendment) Act, 1961
1961, No. 31
Number 21 of 1974
SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED (AMENDMENT) ACT, 1974
AN ACT TO AMEND AND EXTEND THE SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED ACTS, 1959 TO 1970. [16th July, 1974]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
Interpretation.
1.â(1) In this Actâ
âthe Act of 1970â means the
Shannon Free Airport Development Company Limited (Amendment) Act, 1970
;
âthe Companyâ means the Shannon Free Airport Development Company Limited;
âthe Principal Actâ means the
Shannon Free Airport Development Company Limited Act, 1959
.
(2) The Shannon Free Airport Development Company Limited Acts, 1959 to 1970 and this Act shall be construed as one.
Amendment of section 2 of the Principal Act.
2.âSo much of section 2 of the Principal Act (as amended by section 8 of the Act of 1970) 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 seventeen million pounds is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate of the amounts so subscribed shall not exceed twenty-five million pounds.
Amendment of section 8 of the Principal Act and section 2 of the Act of 1970.
3.âSection 9 of the Act of 1970 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 Act of 1970 shall not exceed seventeen million pounds.
Advances to the Company by Minister for Finance.
4.âSection 10 of the Act of 1970 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 seventeen million pounds.
Short title and collective citation.
5.â(1) This Act may be cited as the Shannon Free Airport Development Company Limited (Amendment) Act, 1974.
(2) The Shannon Free Airport Development Company Limited Acts, 1959 to 1970, and this Act may be cited together as the Shannon Free Airport Development Company Limited Acts, 1959 to 1974.
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