S.I. No. 265/1969:

TRANSPORT ACT, 1950 (ADDITIONAL POWERS) ORDER, 1969.

TRANSPORT ACT, 1950 (ADDITIONAL POWERS) ORDER, 1969.

I, BRIAN LENIHAN, Minister for Transport and Power, in exercise of the powers conferred on me by section 14 of the Transport Act, 1950 (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), with the consent of the Minister for Finance, hereby order as follows :

1. This Order may be cited as the Transport Act, 1950 (Additional Powers) Order, 1969.

2. Córas Iompair Éireann may subscribe for, take up, or otherwise acquire and hold, or sell or otherwise dispose of shares, debentures or other securities of a company incorporated or to be incorporated in the State of New York having as its principal objects the promotion and sale and the acting, as agent for Córas Iompair Éireann, in the promotion and sale, of contracts for rail, sea, air or coach tours provided by Córas Iompair Éireann, either alone or in conjunction with other transport companies, and may lend and advance money or give credit to such company and may guarantee the performance of any contracts or obligations of, and the payment of money by, such company.

GIVEN under my Official Seal, this 20th day of August, 1969.

BRIAN LENIHAN,

Minister for Transport and Power.

The Minister for Finance hereby consents to the making of the foregoing Order.

GIVEN under the Official Seal of the Minister for Finance, this 20th day of August, 1969.

CHARLES J. HAUGHEY.

EXPLANATORY NOTE.

The Order confers on C.I.E. the power to establish a subsidiary company in the U.S.A. to deal with passenger travel.