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Uimhir 5 de 1965.
AN tACHT UM AN BRITISH & IRISH STEAM PACKET COMPANY LIMITED (FÁIL), 1965
[An tiontú oifigiúil]
ACHTAÍTEAR AG AN OIREACHTAS MAR A LEANAS:—
Mínithe.
1.—San Acht seo—
ciallaíonn “an comhaontú” an comhaontú a bhfuil cóip de leagtha amach sa Sceideal a ghabhann leis an Acht seo;
ciallaíonn “an Chuideachta” an British & Irish Steam Packet Company Limited;
ciallaíonn “an tAire” an tAire Iompair agus Cumhachta.
An comhaontú a fhormheas agus a fhorálacha a chur i gcrích.
2.—Tugtar formheas leis seo ar an gcomhaontú agus féadfaidh an tAire Airgeadais agus an tAire an comhaontú a chur i gcrích sa mhéid go bhfuil a fhorálacha le comhlíonadh acu.
Airgead a sholáthar as an bPríomh-Chiste le haghaidh íocaíochtaí faoin Acht.
3.—(1) Airleacfar as an bPríomh-Chiste nó a thoradh fáis an t-airgead go léir a theastóidh ón Aire Airgeadais chun gnáthscaireanna eisithe na Cuideachta a cheannach de bhun an chomhaontaithe agus chun íoctha an úis (a fhéadfaidh an tAire Airgeadais a íoc le Coast Lines Limited i leith an airgid cheannaigh is iníoctha ag an Aire Airgeadais leis an gCuideachta sin faoin gcomhaontú ar na scaireanna réamhráite go feadh cibé méid agus ar cibé ráta a mheasfaidh an tAire sin is iomchuí ón dara lá d'Fheabhra, 1965, go dtí an dáta a íocfar an t-airgead ceannaigh réamhráite le Coast Lines Limited).
(2) Féadfaidh an tAire Airgeadais, chun soláthar a dhéanamh le haghaidh airleacan suimeanna as an bPríomh-Chiste faoin alt seo, aon suimeanna is gá chuige sin a fháil ar iasacht ar urrús an Phríomh-Chiste nó a thoradh fáis, agus chun na suimeanna sin a fháil ar iasacht, féadfaidh sé urrúis a bhunú agus a eisiúint agus iad faoi cibé ráta úis, agus faoi réir cibé coinníollacha i dtaobh aisíoca, fuascailte nó eile, is cuí leis, agus íocfaidh sé isteach sa Státchiste an t-airgead go léir a gheofar ar iasacht amhlaidh.
(3) Muirearófar ar an bPríomh-Chiste nó ar a thoradh fáis príomhshuim agus ús gach urrús a eiseofar faoin alt seo agus na costais faoina rachfar i ndáil leis na hurrúis sin a eisiúint.
Sealbhú scaireanna sa Chuideachta ag an Aire Airgeadais.
4.—(1) Féadfaidh an tAire Airgeadais na scaireanna a bheidh faighte aige faoin Acht seo sa Chuideachta a shealbhú fad is cuí leis é agus, tar éis dó dul i gcomhairle leis an Aire, féadfaidh sé, mar is oiriúnach leis agus nuair is oiriúnach leis é, na scaireanna sin go léir nó aon chuid díobh a dhíol nó iad a dhiúscairt ar dhóigh eile.
(2) Íocfar isteach sa Státchiste nó cuirfear chun tairbhe don Státchiste an fáltas glan a gheobhaidh an tAire Airgeadais as scaireanna sa Chuideachta a dhíol.
Feidhmiú cirt nó cumhachta is infheidhmithe ag sealbhóir scaireanna sa Chuideachta ag an Aire Airgeadais.
5.—Féadfaidh an tAire Airgeadais feidhmiú a dhéanamh, i leith na scaireanna a shealbhóidh sé sa Chuideachta ar na cearta agus na cumhachtaí go léir is infheidhmithe ag sealbhóir scaireanna den sórt sin agus, más trí aturnae atá ceart nó cumhacht infheidhmithe, féadfaidh sé an céanna a fheidhmiú trína aturnae.
Díbhinní, etc., a íoc isteach sa Státchiste.
6.—Íocfar isteach sa Státchiste nó cuirfear chun tairbhe don Státchiste na díbhinní agus an t-airgead eile go léir a gheobhaidh an tAire Airgeadais i leith scaireanna sa Chuideachta.
Srian le scaireanna sa Chuideachta a eisiúint.
7.—Ní eiseoidh an Chuideachta scaireanna sa Chuideachta gan toiliú an Aire Airgeadais arna thabhairt tar éis dó dul i gcomhairle leis an Aire.
Stiúrthóirí na Cuideachta.
8.—(1) Is é líon stiúrthóirí a bheidh ar an gCuideachta cibé líon, nach mó ná seachtar, a chinnfidh an tAire ó am go ham, le toiliú an Aire Airgeadais, agus ceapfar iad ag an Aire (agus aigesean amháin) i scríbhinn le toiliú an Aire Airgeadais.
(2) Beidh stiúrthóir ar an gCuideachta i seilbh oifige go ceann cibé téarma a shonróidh an tAire, le toiliú an Aire Airgeadais, i ndoiciméad a cheaptha.
(3) Féadfar stiúrthóir ar an gCuideachta a athcheapadh ina stiúrthóir.
(4) Féadfaidh an tAire, le toiliú an Aire Airgeadais, stiúrthóir ar an gCuideachta a chur as oifig tráth ar bith.
(5) Is é an tAire, le toiliú an Aire Airgeadais, a chinnfidh ó am go ham luach saothair stiúrthóirí na Cuideachta.
(6) Ní gá do stiúrthóir ar an gCuideachta aon scaireanna a bheith aige sa Chuideachta.
(7) (a) Gach stiúrthóir ar an gCuideachta a ceapadh de bhun an chomhaontaithe, measfar, i dtosach feidhme na míre seo, é a bheith tar éis scaradh lena oifig mar stiúrthóir agus athcheapfar é don oifig sin faoi réim agus faoi réir forálacha an ailt seo.
(b) Tiocfaidh mír (a) den fho-alt seo i ngníomh an lú lá d'Aibreán, 1965.
(8) Is é is córam do chruinniú de stiúrthóirí na Cuideachta—
(a) i gcás seachtar stiúrthóir a bheith uirthi, triúr,
(b) I gcás líon is lú ná seachtar stiúrthóir a bheith uirthi, beirt.
An Cathaoirleach ar bhord stiúrthóirí na Cuideachta.
9.—(1) Beidh cathaoirleach ar bhord stiúrthóirí na Cuideachta agus is ag an Aire (agus aigesean amháin) a cheapfar é ó am go ham, le toiliú an Aire Airgeadais.
(2) Beidh an cathaoirleach réamhráite i seilbh oifige go ceann cibé téarma agus ar cibé téarmaí agus coinníollacha (lena n-áirítear téarmaí agus coinníollacha maidir le sochair aoisliúntais) a chinnfidh an tAire ó am go ham, le toiliú an Aire Airgeadais.
(3) Féadfaidh an tAire, le toiliú an Aire Airgeadais, an cathaoirleach réamhráite a chur as oifig tráth ar bith.
Stiúrthóir bainistíochta na Cuideachta.
10.—(1) Féadfar stiúrthóir bainistíochta ar an gCuideachta, más cuí leis an Aire é, a cheapadh ó am go ham as na stiúrthóirí ag an Aire (agus aigesean amháin), le toiliú an Aire Airgeadais.
(2) Beidh stiúrthóir bainistíochta ar an gCuideachta i seilbh oifige go ceann cibé téarma agus ar cibé téarmaí agus coinníollacha (lena n-áirítear téarmaí agus coinníollacha maidir le sochair aoisliúntais) a chinnfidh an tAire, le toiliú an Aire Airgeadais.
(3) Féadfaidh an tAire, le toiliú an Aire Airgeadais, stiúrthóir bainistíochta ar an gCuideachta a chur as oifig tráth ar bith.
Oibleagáid chun cláir chomhardaithe, etc., a thabhairt don Aire.
11.—(1) Tabharfaidh an Chuideachta don Aire, a luaithe is féidir tar éis deireadh gach bliana cuntasaíochta—
(a) clár comhardaithe amhail mar a bhí i ndeireadh na bliana cuntasaíochta sin agus é arna iniúchadh go cuí ag iniúchóir na Cuideachta;
(b) cuntas sochair agus dochair don bhliain chuntasaíochta chéanna, agus é arna iniúchadh ar an gcuma chéanna;
(c) tuarascáil na stiúrthóirí do na scairshealbhóirí in aghaidh na bliana cuntasaíochta sin.
(2) Déanfaidh an tAire an clár comhardaithe, an cuntas sochair agus dochair agus an tuarascáil a thabharfar dó de bhun fho-alt (1) den alt seo a leagan faoi bhráid gach Tí den Oireachtas a luaithe is féidir tar éis an clár comhardaithe, an cuntas sochair agus dochair agus an tuarascáil sin a thabhairt dó amhlaidh.
(3) Tabharfaidh an Chuideachta don Aire, má iarrann an tAire uirthi é, cibé eolas a theastóidh uaidh maidir le haon chlár comhardaithe, cuntas sochair agus dochair nó tuarascáil, nó maidir le beartas agus oibríochtaí na Cuideachta.
Iniúchóir a cheapadh.
12.—Beidh ceapadh iniúchóra ag an gCuideachta don Chuideachta faoi réir fhormheas an Aire.
Stiúrthóirí, oifigigh agus seirbhísigh de chuid na Cuideachta agus comhaltas cheachtar Tí den Oireachtas.
13.—(1) Má ainmnítear stiúrthóir ar an gCuideachta mar iarrthóir i dtoghchán do cheachtar Teach den Oireachtas nó mar chomhalta de Sheanad Éireann, scoirfidh sé air sin de bheith ina stiúrthóir ar an gCuideachta.
(2) I gcás duine is oifigeach nó seirbhíseach i bhfostaíocht na Cuideachta a theacht chun bheith ina chomhalta de cheachtar Teach den Oireachtas—
(a) beidh sé, ar feadh na tréimhse dar tosach an dáta a thiocfaidh sé i dteideal, faoi Bhuan-Orduithe an Tí sin, suí sa Teach sin agus dar críoch an dáta a scoirfidh sé de bheith ina chomhalta den Teach sin nó, más rud é go dtarlódh sin roimhe sin, an dáta a éireoidh sé as an bhfostaíocht sin ag an gCuideachta nó a scoirfidh sé den fhostaíocht sin, ar iasacht ón bhfostaíocht sin.
(b) ní íocfaidh an Chuideachta leis, ná ní bheidh teideal aige chun go bhfaighidh sé ón gCuideachta, aon tuarastal nó pá, cibé acu é, i leith na tréimhse sin.
(3) I gcás duine atá nó a bhí ina oifigeach nó ina sheirbhíseach don Chuideachta a theacht i dteideal pinsin faoi na hAchtanna um Oifigí Aireachta agus Parlaiminte, 1938 to 1960, ní bheidh sé i dteideal an t-iomlán ná aon chuid dá thréimhse sheirbhíse inphinsin, de réir bhrí na nAchtanna sin, a áireamh le haghaidh aon sochar aoisliúntais is iníoctha faoi scéim arna déanamh ag an gCuideachta chun sochair aoisliúntais a íoc le hoifigigh nó seirbhísigh na Cuideachta nó ina leith.
(4) Aon duine a bheidh de thuras na huaire i dteideal, faoi Bhuan-Orduithe cheachtar Tí den Oireachtas, suí sa Teach sin, beidh sé, fad a bheidh sé i dteideal amhlaidh, dícháilithe chun teacht chun bheith ina stiúrthóir ar an gCuideachta nó ina oifigeach nó ina sheirbhíseach don Chuideachta.
Meabhrán agus airteagail chomhlachais na cuideachta a athrú.
14.—Déanfaidh an Chuideachta cibé bearta is gá faoi Acht na gCuideachtaí, 1963, chun meabhrán agus airteagail chomhlachais na Cuideachta a athrú ionas go mbeidh siad i gcomhréir leis an Acht seo.
Srian le meabhrán agus airteagail chomhlachais na Cuideachta a athrú. 1963, Uimh. 33.
15.—D'ainneoin aon ní in Acht na gCuideachtaí, 1963, nó i meabhrán nó airteagail chomhlachais na Cuideachta, ní bheidh athrú ar an meabhrán nó na hairteagail sin bailí ná éifeachtúil mura le formheas roimh ré ón Aire, arna thabhairt le toiliú an Aire Airgeadais, a dhéanfar é.
Caiteachas an Aire.
16.—Déanfar an caiteachas faoina rachaidh an tAire ag riaradh an Achta seo a íoc, a mhéid a cheadóidh an tAire Airgeadais é, as airgead a sholáthróidh an tOireachtas.
Gearrtheideal.
17.—Féadfar an tAcht um an British & Irish Steam Packet Company Limited (Fáil), 1965, a ghairm den Acht seo.
AN SCEIDEAL
COMHAONTÚ É SEO a rinneadh an Dara lá d'Fheabhra Míle naoi gcéad seasca a cúig IDIR COAST LINES LIMITED a bhfuil a n-oifig chláraithe i Reliance House Water Street Liverpool 2 (dá ngairtear “Coast Lines” anseo feasta) den chéad pháirt AIRE AIRGEADAIS Rialtas na hÉireann (dá ngairtear “an tAire Airgeadais” anseo feasta) den dara páirt agus AIRE IOMPAIR AGUS CUMHACHTA Rialtas na hÉireann (dá ngairtear “an tAire Iompair agus Cumhachta” anseo feasta) den tríú páirt
DE BHRÍ:—
(A) Gur corpraíodh an British & Irish Steam Packet Co. Limited (dá ngairtear “B & I” anseo feasta) an 22ú lá de Nollaig 1936 mar Chuideachta faoi theorainn Scaireanna faoi na Companies Acts, 1908 go 1917 agus ar a dháta seo go bhfuil ag an gCuideachta sin scairchaipiteal údaraithe £2,000,000 agus é roinnte i 2,000,000 Gnáthscair de £1 an ceann a bhfuil 1,600,000 Gnáthscair díobh eisithe agus láníoctha
(B) Gurb é Coast Lines úinéir tairbhiúil an 1,600,000 Gnáthscair eisithe sin
(C) Go bhfuil Coast Lines tar éis comhaontú an 1,600,000 Gnáthscair eisithe sin ar fad a dhíol agus an tAire Airgeadais (le haghaidh agus thar ceann Rialtas na hÉireann) tar éis comhaontú iad a cheannach faoi réir agus de réir na dtéarmaí agus na gcoinníollacha atá anseo ina dhiaidh seo
ANOIS FIANAÍTEAR LEIS AN gCOMHAONTÚ SEO AGUS COMHAONTAÍTEAR LEIS SEO mar a leanas:—
1. DÍOLFAIDH Coast Lines agus ceannóidh an tAire Airgeadais amhail ón lú lá d'Eanáir 1965 an 1,600,000 Gnáthscair eisithe sin ar fad saor ó gach lian muirear agus eire agus ó gach ceart codarsna agus faoi réir agus de réir na dtéarmaí agus na gcoinníollacha atá anseo ina dhiaidh seo
2. IS é praghas is iníoctha ag an Aire Airgeadais le Coast Lines ar na Scaireanna sin suim £3,606,922 (faoi réir an choinníll i gcónaí go gcomhlíonfaidh Coast Lines a oibleagáidí faoi Chlásal 4 (c) agus (d) thíos)
3. DÉANFAR an díol agus ceannach a chomhlánú an 15ú lá de Mhárta 1965 nó cibé dáta eile ar a gcomhaontóidh na páirtithe agus in áit ar a gcomhaontófar
4. AR an díol agus ceannach a bheith comhlánaithe:—
(a) ÍOCFAIDH an tAire Airgeadais an praghas a dúradh le Coast Lines faoi choinne iad seo a leanas a sheachadadh don Aire Airgeadais:—
(i) Aistrithe arna bhforghníomhú go cuí a chuimseoidh na Scaireanna go léir a gcomhaontaítear leis seo iad a dhíol i bhfabhar an Aire Airgeadais nó daoine a ainmneoidh an tAire Airgeadais maraon leis na Deimhnithe cinntitheacha a bhaineann leo
(ii) Aon chumhacht nó cumhachtaí aturnae ar dá bun nó dá mbun a forghníomhaíodh aon aistrithe den sórt sin
(b) Tabharfaidh Coast Lines chun críche go gceapfar ina Stiúrthóirí ar B & I cibé daoine a ainmneoidh an tAire Airgeadais (le comhaontú an Aire Iompair agus Cumhachta) agus go scoirfidh Stiúrthóirí uile B & I, seachas na stiúrthóirí a ainmneoidh an tAire Airgeadais (le comhaontú an Aire Iompair agus Cumhachta) mar atá ráite, láithreach gan chúiteamh d'oifig Stiúrthóra B & I agus go ligfidh uathu le héifeacht ó dháta an scortha sin a gcearta faoi seach faoi aon chomhaontú nó conradh fostaíochta de bhriathra béil nó i scríbhinn nó intuigthe le B & I
(c) Aisíocfaidh Coast Lines le B & I méid iomlán aon iasachta a bheidh an uair sin amuigh ag B & I ar Coast Lines agus dlite dó ó Coast Lines
(d) Ceannóidh Coast Lines ó B & I na sócmhainní sin le B & I a thuairiscítear sa Sceideal a ghabhann leis an gComhaontú seo (dá ngairtear “na Sócmhainní Eiscthe” anseo thíos) agus íocfaidh Coast Lines astu agus tabharfaidh na páirtithe sa Chomhaontú seo chun críche go ndéanfaidh B & I iad a dhíol le Coast Lines agus a aistriú chucu (nó de réir mar a ordóidh Coast Lines). Is é praghas a íocfaidh Coast Lines as na Sócmhainní Eiscthe suim £202,277
(e) Forghníomhóidh Coast Lines agus tabharfaidh na páirtithe sa Chomhaontú seo chun críche go bhforghníomhóidh B & I Comhaontú Gníomhaireachta i bhfoirm an dréachta ar ar comhaontaíodh cheana idir na páirtithe sa Chomhaontú seo agus ar cuireadh tús litreacha leis thar a gceann chun é a aithint (faoi réir aon leasuithe ar a gcomhaontófar go frithpháirteach)
5. TAR ÉIS díol agus ceannach an 1,600,000 Gnáthscair sin a bheith comhlánaithe leanfaidh B & I de ghníomhú mar ghníomhairí do na seirbhísí línéir leis an Coast Lines Group a ghabhann idir an Ríocht Aontaithe agus Poblacht na hÉireann agus tabharfaidh na páirtithe sa Chomhaontú seo chun críche go bhforghníomhóidh na páirtithe cuí comhaontuithe foirmiúla ar théarmaí a bheidh le réiteach maidir leis na gníomhaireachtaí sin
6. A luaithe is féidir tar éis díol agus ceannach an 1,600,000 Gnáthscair sin a bheith comhlánaithe tabharfaidh an tAire Airgeadais agus an tAire Iompair agus Cumhachta chun críche go ndéanfar cuntais B & I don bhliain dar críoch an 31 Nollaig 1964 a ullmhú agus a iniúchadh ag Stokes Bros. & Pim, Cuntasóirí Cairte, Iniúchóirí B & I faoi láthair; agus go ndéanfar na cuntais sin a ullmhú a mhéad is féidir é san fhoirm chéanna agus ar an mbonn céanna le cuntais iniúchta B & I don bhliain dar críoch 31 Nollaig 1963. Tabharfaidh an tAire Airgeadais agus an tAire Iompair agus Cumhachta chun críche a luaithe agus is féidir ina dhiaidh sin go ndearbhóidh agus go n-íocfaidh B & I díbhinn ar a scairchaipiteal faoi mar a bhí an 31 Nollaig 1964 agus go mbeidh méid iomlán na díbhinne sin (tar éis cáin a asbhaint) comhionann
(i) le méid iomlán an bhrabúis ar chuntas trádála B & I don bhliain dar críoch an 31 Nollaig 1964 agus na ndíbhinní (comhlána) a fuair B & I i leith na bliana sin ó infheistíochtaí trádála agus ó fhochuideachtaí
tar éis an méid seo a bhaint as
(ii) méid iomlán an dímheasa (de réir na rátaí céanna a úsáideadh i leith na bliana dar críoch an 31 Nollaig 1963) agus táillí Stiúrthóirí agus luach saothair iniúchóirí don bhliain dar críoch an 31 Nollaig 1964 agus cánachais ar bhrabúis na bliana sin agus aon ghannsoláthair i leith cánachais do bhlianta roimhe sin
mar a thaispeántar gach ní díobh sin sna cuntais iniúchta sin don bhliain sin. Ní fholóidh díol na Scaireanna sin a chomhaontaítear leis seo a dhiol an ceart chun an díbhinn sin a fháil agus coinneoidh Coast Lines í ach taobh amuigh de sin folóidh an díol sin gach ceart a ghabhann leis na Scaireanna sin faoi mar a bhí i dtosach gnó an lú lá d'Eanáir 1965
7. GO DTÍ go mbeidh díol agus ceannach an 1,600,000 Gnáthscair sin comhlánaithe tabharfaidh Coast Lines chun críche nach ndéanfaidh B & I aon scairchaipiteal breise a eisiúint ná a chur faoi rogha agus go ndéanfaidh sé gach dícheall chun a thabhairt chun críche go leanfaidh B & I dá ghnó a oibriú mar a bhí sé á oibriú go dtí seo
8. FAISNÉISEANN agus barántaíonn Coast Lines:—
(i) nach bhfuil srianadh ar bith air bheith páirteach sa Chomhaontú seo
(ii) go bhfuil gach maoin gníomhas ionstraim agus deimhniú is le B & I saor ó gach lian muirear agus eire mura bhfuil a leithéid curtha in iúl
DÁ FHIANÚ SIN rinneadh Gnáthshéala Coast Lines agus séalaí oifigiúla an Aire Airgeadais agus an Aire Iompair agus Cumhachta faoi seach a ghreamú den Chomhaontú seo
AN SCEIDEAL dá dtagraítear thuas
Na Sócmhainní Eiscthe
1. Scairchaipiteal eisithe iomlán Carrollstown Estates Limited arb é atá ann 75,000 Scair de £1 an ceann.
2. Scairchaipiteal eisithe iomlán Ernest Cullen & Sons Limited arb é atá ann 34,028 Scair “A” agus 5,972 Scair “B” iad uile ina scaireanna de £1 an ceann.
3. 9,000 Gnáthscair de £1 an ceann sa Liffey Dockyard Limited.
4. 250 Bintiúr Infhuascailte £1 a d'eisigh Cork Opera House Limited.
GREAMAÍODH GNÁTHSHÉALA COAST
LINES LIMITED de seo ina láthair seo:—
M. ARNET ROBINSON | |
Stiúrthóir | |
I.M. MacLAREN | |
Rúnaí |
I LÁTHAIR nuair a greamaíodh séala | |
oifigiúil an Aire Airgeadais de seo agus | |
a fíordheimhníodh é le síniú | |
|
|
T. K. WHITAKER | |
duine le húdarás séala an Aire sin a fhíordheimhniú: | |
T. K. WHITAKER |
Maureen Stuart, An Roinn Airgeadais, Baile Átha Cliath. Státseirbhíseach. | duine le húdarás faoi alt 15 (3) den Acht Airí agus Rúnaithe, 1924, séala an Aire Airgeadais a fhíordheimhniú |
I LÁTHAIR nuair a greamaíodh séala oifigiúil an Aire Iompair agus Cumhachta de seo agus a fíordheimhníodh é le síniú | |
|
|
T. J. Beere | |
duine le húdarás séala an Aire sin a fhíordheimhniú: |
I. Howard, | T. J. BEERE |
An Roinn Iompair agus Cumhachta, 23/28 Sráid Chill Dara, Baile Átha Cliath 2. Státseirbhíseach | duine le húdarás faoi Alt 15 (3) den Acht Airí agus Rúnaithe, 1924, séala an Aire Iompair agus Cumhachta a fhíordheimhniú. |
Number 5 of 1965.
BRITISH & IRISH STEAM PACKET COMPANY LIMITED (ACQUISITION) ACT, 1965
ARRANGEMENT OF SECTIONS
Act Referred to | |
1963, No. 33 | |
Number 5 of 1965.
BRITISH & IRISH STEAM PACKET COMPANY LIMITED (ACQUISITION) ACT, 1965
Definitions.
1.—In this Act—
“the agreement” means the agreement a copy of which is set out in the Schedule to this Act;
“the Company” means the British & Irish Steam Packet Company Limited;
“the Minister” means the Minister for Transport and Power.
Approval of agreement and carrying out of its provisions.
2.—The agreement is hereby approved of and the Minister for Finance and the Minister may carry out the agreement so far as the provisions thereof are to be performed by them.
Provision of money for payments under the Act out of the Central Fund.
3.—(1) All moneys required by the Minister for Finance for the purchase, pursuant to the agreement, of the issued ordinary shares of the Company and for the payment of interest (which may be paid by the Minister for Finance to Coast Lines Limited in respect of the purchase moneys payable by the Minister for Finance to that Company under the agreement for the shares aforesaid to such extent and at such rate as that Minister may deem appropriate from the 2nd day of February, 1965, to the date on which the purchase moneys aforesaid are paid to Coast Lines Limited) shall be advanced out of the Central Fund or the growing produce thereof.
(2) The Minister for Finance may, for the purpose of providing for the advance of sums out of the Central Fund under this section, borrow on the security of the Central Fund or the growing produce thereof any sums required for that purpose, and for the purposes of such borrowing, he may create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as he thinks fit, and shall pay all moneys so borrowed into the Exchequer.
(3) The principal of and interest on all securities issued under this section and the expenses incurred in connection with the issue of such securities shall be charged on and payable out of the Central Fund or the growing produce thereof.
Holding by Minister for Finance of shares of Company.
4.—(1) The Minister for Finance may hold for so long as he thinks fit the shares of the Company acquired by him under this Act and, after consultation with the Minister, may, as and when he thinks fit, sell or otherwise dispose of all or any of such shares.
(2) The net proceeds of a sale by the Minister for Finance of shares of the Company shall be paid into or disposed of for the benefit of the Exchequer.
Exercise by Minister for Finance of right or power exercisable by holder of shares of Company.
5.—The Minister for Finance may exercise in respect of the shares of the Company held by him all the rights and powers of a holder of such shares and, where a right or power is exercisable by attorney, exercise it by his attorney.
Payment of dividends, etc., into Exchequer.
6.—All dividends and other moneys received by the Minister for Finance in respect of shares of the Company shall be paid into or disposed of for the benefit of the Exchequer.
Restriction on issue of shares of Company.
7.—Shares of the Company shall not be issued by the Company without the consent of the Minister for Finance given after consultation with the Minister.
Directors of Company.
8.—(1) The number of directors of the Company shall be such number not exceeding seven as the Minister may, with the consent of the Minister for Finance, from time to time determine and they shall be appointed by (but only by) the Minister in writing with the consent of the Minister for Finance.
(2) A director of the Company shall hold office for such term as the Minister may, with the consent of the Minister for Finance, specify in the document of his appointment.
(3) A director of the Company may be re-appointed a director.
(4) The Minister may, with the consent of the Minister for Finance, remove a director of the Company from office at any time.
(5) The remuneration of directors of the Company shall be determined from time to time by the Minister with the consent of the Minister for Finance.
(6) It shall not be necessary for a director of the Company to hold any shares of the Company.
(7) (a) Each director of the Company who was appointed pursuant to the agreement shall, upon the commencement of this paragraph, be deemed to have vacated his office as director and shall be re-appointed to such office under and subject to the provisions of this section.
(b) Paragraph (a) of this subsection shall come into operation on the 1st day of April, 1965.
(8) The quorum for a meeting of the directors of the Company shall be—
(a) in case there are seven directors, three,
(b) in case there are less than seven directors, two.
Chairman of board of directors of Company.
9.—(1) There shall be a chairman of the board of directors of the Company who shall be appointed from time to time by (but only by) the Minister with the consent of the Minister for Finance.
(2) The chairman aforesaid shall hold office for such term and upon such terms and conditions (including terms and conditions relating to superannuation benefits) as the Minister may, with the consent of the Minister for Finance, from time to time determine.
(3) The Minister may, with the consent of the Minister for Finance, remove the chairman aforesaid from office at any time.
Managing director of Company.
10.—(1) A managing director of the Company may, if the Minister so thinks fit, be appointed from time to time from amongst the directors by (but only by) that Minister with the consent of the Minister for Finance.
(2) A managing director of the Company shall hold office for such term and upon such terms and conditions (including terms and conditions relating to superannuation benefits) as may be determined by the Minister with the consent of the Minister for Finance.
(3) The Minister may, with the consent of the Minister for Finance, remove a managing director of the Company from office at any time.
Obligation to furnish balance sheets, etc., to Minister.
11.—(1) The Company shall as soon as may be after the end of every accounting year furnish to the Minister—
(a) a balance sheet as at the end of such accounting year duly audited by the auditor of the Company;
(b) a profit and loss account for the same accounting year similarly audited; and
(c) the report of the directors to the shareholders for such accounting year.
(2) The balance sheet and profit and loss account and report furnished to the Minister pursuant to subsection (1) of this section shall be laid by him before each House of the Oireachtas as soon as may be after such balance sheet, profit and loss account and report are so furnished to him.
(3) The Company shall, if so required by the Minister, furnish to him such information as he may require in respect of any balance sheet, profit and loss account or report, or in relation to the policy and operations of the Company.
Appointment of Auditor.
12.—The appointment by the Company of an auditor to the Company shall be subject to the approval of the Minister.
Membership of either House of the Oireachtas by directors, officers and servants of Company.
13.—(1) Where a director of the Company is nominated either as a candidate for election to either House of the Oireachtas or as a member of Seanad Éireann, he shall thereupon cease to be a director of the Company.
(2) Where a person who is either an officer or a servant in the employment of the Company becomes a member of either House of the Oireachtas—
(a) he shall, during the period commencing upon his becoming entitled under the Standing Orders of that House to sit therein and ending either when he ceases to be a member of that House or, if it should sooner happen, upon his resignation or retirement from such employment by the Company, stand seconded from such employment,
(b) he shall not be paid by, or entitled to receive from the Company any salary or wages, as the case may be, in respect of that period.
(3) If a person who is or was an officer or servant of the Company becomes entitled to a pension under the Ministerial and Parliamentary Offices Acts, 1938 to 1960, he shall not be entitled to reckon the whole or any part of his period of pensionable service, within the meaning of those Acts, for any superannuation benefits payable under a scheme made by the Company for the payment of superannuation benefits to or in respect of the officers or servants of the Company.
(4) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein shall, while so entitled, be disqualified from becoming a director of the Company or an officer or servant of the Company.
Alteration of memorandum and articles of association of Company.
14.—The Company shall take such steps as may be necessary under the Companies Act, 1963, to alter the memorandum and articles of association of the Company to make them consistent with this Act.
Restriction on alteration of memorandum and articles of association of Company.
15.—Notwithstanding anything contained in the Companies Act, 1963, or in the memorandum or articles of association of the Company, an alteration in the said memorandum or articles shall not be valid or effectual unless made with the previous approval of the Minister given with the consent of the Minister for Finance.
Expenses of Minister.
16.—The expenses incurred by the Minister in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas.
Short title.
17.—This Act may be cited as the British & Irish Steam Packet Company Limited (Acquisition) Act, 1965.
SCHEDULE
THIS AGREEMENT is made the Second day of February One thousand nine hundred and sixty five BETWEEN COAST LINES LIMITED whose registered office is at Reliance House Water Street Liverpool 2 (hereinafter called “Coast Lines”) of the first part the MINISTER FOR FINANCE of the Government of Ireland (hereinafter called “the Minister for Finance”) of the second part and the MINISTER FOR TRANSPORT AND POWER of the Government of Ireland (hereinafter called “the Minister for Transport and Power”) of the third part
WHEREAS:—
(A) British & Irish Steam Packet Co. Limited (hereinafter called “B & I”) was incorporated on the 22nd day of December 1936 as a Company limited by Shares under the Companies Acts, 1908 to 1917 and at the date hereof has an authorised share capital of £2,000,000 divided into 2,000,000 Ordinary Shares of £1 each of which 1,600,000 Ordinary Shares have been issued and are fully paid
(B) Coast Lines is the beneficial owner of all of the said 1,600,000 issued Ordinary Shares
(C) Coast Lines has agreed to sell and the Minister for Finance (for and on behalf of the Government of Ireland) has agreed to purchase all of the said 1,600,000 issued Ordinary Shares subject to and upon the terms and conditions hereinafter appearing
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED as follows:—
1. COAST LINES shall sell and the Minister for Finance shall purchase as from the 1st day of January 1965 all of the said 1,600,000 issued Ordinary Shares free from all liens charges encumbrances and adverse rights and subject to and upon terms and conditions hereinafter contained
2. THE price payable by the Minister for Finance to Coast Lines for the said Shares shall be the sum of £3,606,922 (subject always to compliance by Coast Lines with its obligations under Clause 4 (c) and (d) below)
3. THE sale and purchase shall be completed on the 15th day of March 1965 or on such other date as the parties may agree at a place to be agreed
4. ON completion of the sale and purchase:—
(a) THE Minister for Finance shall pay the said price to Coast Lines against delivery to the Minister for Finance of the following:—
(i) Duly executed transfers comprising all of the Shares hereby agreed to be sold in favour of the Minister for Finance or persons nominated by the Minister for Finance together with the definitive Certificates relating thereto
(ii) Any power or powers of attorney pursuant to which any such transfers shall have been executed
(b) Coast Lines shall procure that such persons are appointed Directors of B & I as the Minister for Finance (with the agreement of the Minister for Transport and Power) shall nominate and that all of the Directors of B & I, other than those nominated by the Minister for Finance (with the agreement of the Minister for Transport and Power) as aforesaid shall retire forthwith without compensation from the office of Director of B & I and relinquish with effect from the date of such retirement their respective rights under any oral written or implied agreement or contract of employment with B & I
(c) Coast Lines shall repay to B & I the whole amount of any loan then outstanding and owing by Coast Lines to B & I
(d) Coast Lines shall purchase from B & I and pay for and the parties hereto shall procure B & I to sell and transfer to Coast Lines (or as Coast Lines may direct) those assets of B & I which are described in the Schedule to this Agreement (below called “the Excepted Assets”). The price to be paid by Coast Lines for the Excepted Assets shall be the sum of £202,277
(e) Coast Lines shall execute and the parties hereto shall procure B & I to execute an Agency Agreement in the form of the draft which has already been agreed between the parties hereto and has been initialled on their behalf for the purpose of identification (subject to any amendments which may be mutually agreed)
5. AFTER completion of the sale and purchase of the said 1,600,000 Ordinary Shares B & I shall continue to act as agents for the liner services of the Coast Lines Group operating between the United Kingdom and the Republic of Ireland and the parties hereto will procure formal agreements to be executed by the proper parties upon terms to be negotiated in relation to such agencies
6. AS soon as practicable after completion of the sale and purchase of the said 1,600,000 Ordinary Shares the Minister for Finance and the Minister for Transport and Power shall procure that the accounts of B & I for the year ended 31st December 1964 shall be prepared and audited by Stokes Bros. & Pim, Chartered Accountants, the present Auditors of B & I; and that such accounts shall be prepared so far as practicable in the same form and upon the same bases as the audited accounts of B & I for the year ended 31st December 1963. The Minister for Finance and the Minister for Transport and Power shall procure that as soon as possible thereafter B & I shall declare and pay a dividend on its share capital as existing on the 31st December 1964 and that the aggregate amount of such dividend (after deduction of tax) shall be equal to
(i) the aggregate amount of the profit on trading account of B & I for the year ended 31st December 1964 and of the dividends (gross) received by B & I in respect of that year from trade investments and from subsidiaries
after deducting therefrom
(ii) the aggregate amount of depreciation (at similar rates to those used in respect of the year ended 31st December 1963) and of Directors' fees and auditors' remuneration for the year ended 31st December 1964 and of taxation on the profits of that year and of any under-provision of taxation of earlier years
all as shown by the said audited accounts for such year. The sale of the said Shares hereby agreed to be made shall not include the right to receive the said dividend which shall be retained by Coast Lines but the said sale shall otherwise include all rights attached to the said Shares as existing at the opening of business on the 1st day of January 1965
7. PENDING completion of the sale and purchase of the said 1,600,000 Ordinary Shares Coast Lines shall procure that B & I shall not issue or put under option any additional share capital and shall use its best endeavours to procure that B & I shall continue to operate its business in the same manner as heretofore
8. COAST LINES represents and warrants:—
(i) that it is not restricted in any way from entering into this Agreement
(ii) that all property deeds instruments and certificates belonging to B & I are free from all liens charges and encumbrances unless disclosed
IN WITNESS WHEREOF the Common Seal of Coast Lines and the respective official seals of the Minister for Finance and the Minister for Transport and Power have been hereunto affixed
THE SCHEDULE above referred to
The Excepted Assets
1. The whole of the issued share capital of Carrollstown Estates Limited comprising 75,000 Shares of £1 each.
2. The whole of the issued share capital of Ernest Cullen & Sons Limited comprising 34,028 “A” Shares and 5,972 “B” Shares all of £1 each.
3. 9,000 Ordinary Shares of £1 each in Liffey Dockyard Limited.
4. 250 Redeemable £1 Debentures issued by Cork Opera House Limited.
THE COMMON SEAL of COAST LINES LIMITED was affixed hereto in the presence of:—
M. ARNET ROBINSON
Director
I. M. MacLAREN
Secretary
PRESENT when the official seal of the Minister for Finance was affixed hereto and was authenticated by the signature of | |
T. K. Whitaker | |
a person authorised to authenticate the seal of the said Minister: | |
T. K. WHITAKER | |
Maureen Stuart, Department of Finance, Dublin. Civil Servant. | a person authorised under Section 15 (3) of the Ministers and Secretaries Act, 1924 to authenticate the seal of the Minister for Finance |
PRESENT when the official seal of the Minister for Transport and Power was affixed hereto and was authenticated by the signature of | |
T. J. Beere | |
a person authorised to authenticate the seal of the said Minister: | |
I. Howard, | T. J. BEERE |
Department of Transport and Power, 23/28 Kildare St., Dublin 2. Civil Servant. | a person authorised under Section 15 (3) of the Ministers and Secretaries Act, 1924 to authenticate the seal of the Minister for Transport and Power |