Irish Steel Holdings Limited (Amendment) Act, 1971
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No. 4/1971: IRISH STEEL HOLDINGS LIMITED (AMENDMENT) ACT, 1971 |
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ARRANGEMENT OF SECTIONS |
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AN ACT TO AMEND AND EXTEND THE IRISH STEEL HOLDINGS LIMITED ACTS, 1960 AND 1963. |
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[16th March, 1971.] |
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BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— |
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| Interpretation and construction. |
1.—(1) In this Act "the Principal Act" means the Irish Steel Holdings Limited Act, 1960 . |
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(2) This Act shall be construed as one with the Principal Act. |
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| Amendment of section 9 of Principal Act. |
2.—Section 9 of the Principal Act, which imposes a limit on the guarantee by the Minister of the repayment of moneys borrowed by the Company, is hereby amended— |
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( a ) by the substitution in subsection (3) of "£3,000,000" for "£1,000,000" (inserted by the Irish Steel Holdings Limited (Amendment) Act, 1963 ), |
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and |
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( b ) by the insertion in subsection (1) after "to the Company" and in subsection (2) after "and the payment of such interest" of "or the due payment by the Company of instalments of moneys owed by the Company and outstanding under a contract entered into by the Company or the interest on any such moneys outstanding or both the payment of such instalments and such interest." |
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| Construction of section 9 of Principal Act. |
3.—(1) For the purposes of section 9 of the Principal Act, the amounts guaranteed by the Minister for Finance under the State Guarantees Act, 1954 , in respect of moneys borrowed by the Company shall be deemed to be amounts guaranteed by the Minister under the Principal Act. |
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(2) In section 9 (5) (c) of the Principal Act "principal" shall be construed as including moneys owed by the Company and outstanding under a contract entered into by the Company, and in sections 12 (b) and 12 (c) of the Principal Act "moneys borrowed" shall be construed as including moneys owed by the Company and outstanding under a contract entered into by the Company. |
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| Short title and collective citation. |
4.—(1) This Act may be cited as the Irish Steel Holdings Limited (Amendment) Act, 1971 . |
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(2) The Irish Steel Holdings Limited Acts, 1960 and 1963, and this Act may be cited together as the Irish Steel Holdings Limited Acts, 1960 to 1971. |
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