No. 3/1978:

SHANNON FREE AIRPORT DEVELOPMENT COMPANY LIMITED (AMENDMENT) ACT, 1978

ARRANGEMENT OF SECTIONS

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.

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:

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.

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for Finance may subscribe under that section in taking up shares of the Company shall not exceed £25,000,000 is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate of the amounts so subscribed shall not exceed £45,000,000.

3.—Section 3 of the Act of 1974 is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate amount of grants to be made to the Company under section 8 of the Principal Act and section 2 of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.

4.—Section 4 of the Act of 1974 is hereby repealed and, in lieu thereof, it is hereby enacted that the aggregate amount of advances under section 4 (1) of the Shannon Free Airport Development Company Limited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.

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.

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