S.I. No. 86/1950:

SUBSIDY (AER-RIANTA, TEORANTA) ORDER, 1950.

SUBSIDY (AER-RIANTA, TEORANTA) ORDER, 1950.

The Minister for Finance, in exercise of the powers conferred on him by the Air Navigation and Transport Acts, 1936 to 1950, hereby orders as follows :--

1. This Order may be cited as the Subsidy (Aer-Rianta, Teoranta) Order, 1950.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this Order.

3. In this Order--

the expression " the Company " means Aer-Rianta, Teoranta ; the expression " losses of the Company " means the aggregate of--

(a) the loss sustained by the Company,

(b) the loss sustained by Aerlínte Éireann, Teoranta, and

(c) the part, falling to be borne by the Company, of the loss sustained by Aer Lingus, Teoranta,

in any activities in connection with aviation (other than the management by the Company of the Dublin Airport on behalf of the Minister for Industry and Commerce) undertaken in accordance with the policy from time to time approved of by the Minister for Industry and Commerce ;

the expression " the Subsidy (Aer-Rianta, Teoranta) Orders, 1946 to 1948," means--

(a) the Subsidy (Aer-Rianta, Teoranta) Order, 1946 ( S. R. & O. No. 146 of 1946 ),

(b) the Subsidy (Aer-Rianta, Teoranta) (No. 1) Order, 1947 ( S. R. & O. No. 101 of 1947 ),

(c) the Subsidy (Aer-Rianta, Teoranta) (No. 2) Order, 1947 ( S. R. & O. No. 145 of 1947 ), and

(d) the Subsidy (Aer-Rianta, Teoranta (No. 1) Order, 1948 ( S.I. No. 86 of 1948 )

4.--(1) The Minister for Industry and Commerce is hereby authorised to pay to the Company a subsidy (in this Order referred to as the subsidy) equal to the lesser of the following :--

(a) four hundred and seventy-three thousand one hundred and sixty-two pounds ;

(b) the aggregate of--

(i) the sum which the Minister for Finance and the Minister for Industry and Commerce estimate will be the losses of the Company in the year ending on the 31st day of March, 1950,

(ii) the sum of two hundred and five thousand and sixty-seven pounds, being the losses of the Company in the year which ended on the 31st day of March, 1949, and

(iii) the sum of one hundred and sixty-three thousand five hundred and ninety-five pounds, being the sum by which the subsidies paid under the Subsidy (Aer-Rianta, Teoranta) Orders, 1946 to 1948, fell short of the actual losses determined in accordance with those Orders.

(2) The subsidy shall be paid to the Company before the 1st day of April, 1950.

5. For the purposes of this Order--

(a) actual losses of the Company in the year ending on the 31st day of March, 1950, shall, as far as possible, be ascertained by reference to the accounts, as audited under section 81 of the Air Navigation and Transport Act, 1936 (No. 40 of 1936), of the Company, of Aerlinte Eireann, Teoranta, and of Aer Lingus, Teóranta ;

(b) the determination by the Minister for Finance and the Minister for Industry and Commerce of the amount of the said actual losses of the Company shall be final.

6. If the actual losses of the Company in the year ending on the 31st day of March, 1950, as so determined, plus the sums of two hundred and five thousand and sixty-seven pounds and one hundred and sixty-three thousand five hundred and ninety-five pounds referred to in subparagraph (b) of paragraph (1) of Article 4 of this Order, are less than the subsidy, the Company shall repay the difference to the Minister for Industry and Commerce before the 1st day of September, 1950.

7. The Company shall supply to the Minister for Industry and Commerce, on being so requested, such information as that Minister may require for the purposes of this Order.

GIVEN under the Official Seal of the Minister for Finance, this 28th day of March, 1950.

(Signed) J. J. McELLIGOTT