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Uimhir 8 de 1941.
ACHT FORBAIRTE GUAL-LÁTHRACH SHLIABH ARDACHADH, 1941.
[An tionntódh oifigeamhail.]
[10adh Abrán, 1941.]
Mínithe.
1. San Acht so—
cialluíonn an abairt “an tAire” an tAire Tionnscail agus Tráchtála;
cialluíonn an abairt “Acht 1940” an tAcht Forbairte Minearál, 1940 (Uimh. 31 de 1940);
cialluíonn an abairt “na hAchtanna Cuideachtan” na hAchtanna Cuideachtan, 1908 go 1924;
cialluíonn an abairt “Gual-Láthair Shliabh Ardachadh” na mianaigh agus na féitheanna agus na sreathanna guail, maraon leis na mianraí, do tháinig chun bheith dílsithe san Aire de bhuadh an Orduithe um Mianraí do Shealbhú (Gual-Láthair Shliabh Ardachadh), 1941, ar n-a dhéanamh ag an Aire fé Acht 1940, agus atá, le linn an Achta so do rith, dílsithe ann dá bhuadh san;
nuair a húsáidtear an focal “oibriú” maidir le mianraí, foluíonn sé tochailt, cuardach, baint, gabháil, árdú, tógaint, breith chun siúil, cóireáil agus atharú do dhéanamh alos na mianraí gur ina dtaobh a húsáidtear an focal san, agus léireofar focail ghaolmhara dá réir sin;
cialluíonn an abairt “ceadúnas lorgaireachta” ceadúnas lorgaireachta do réir bhrí Achta 1940;
cialluíonn an abairt “léas mianadóireachta Stáit” léas mianadóireachta Stáit do réir bhrí Achta 1940.
An Chuideachta do bhunú agus do chlárú.
2.—Déanfaidh an tAire, chó luath agus is féidir é tar éis an Achta so do rith agus tar éis dó dul i gcomhairle leis an Aire Airgeadais, gach ní a chífear dó is gá no is inmhianuithe chun a thabhairt go ndéanfar cuideachta theoranta (dá ngairmtear “an Chuideachta” san Acht so) a bheidh do réir na gcoinníoll atá leagtha amach san Acht so do bhunú agus do chlárú fé sna hAchtanna Cuideachtan.
Ainm agus caipital na Cuideachtan.
3.—(1) Isé is ainm don Chuideachtain ná “Comhlucht Gual-Láthrach Shliabh Ardachadh, Teoranta”.
(2) Isé is scair-chaipital na Cuideachtan ná céad punt ar n-a roinnt ina chéad scair lán-íoctha de phunt an ceann agus, d'ainneoin éinní atá sna hAchtanna Cuideachtan, ní dleathach don Chuideachtain an caipital san do mhéadú ná do laghdú.
(3) Déanfar aon scair amháin de scair-chaipital na Cuideachtan do dháiliú agus do thabhairt amach do gach duine fé leith de shuibscríobhaithe Memorandum Chomhlachais na Cuideachtan agus déanfar an chuid eile den scair-chaipital san do dháiliú agus do thabhairt amach don Aire Airgeadais.
(4) An t-airgead is iníoctha ag suibscríobhaithe Memorandum Chomhlachais na Cuideachtan agus ag an Aire Airgeadais fé seach, i gcomaoin scaireanna de scair-chaipital na Cuideachtan do dháiliú agus do thabhairt amach dóibh de bhun an fho-ailt deiridh sin roimhe seo den alt so, íocfar as an bPrímh-Chiste no as toradh fáis an Phrímh-Chiste é agus beidh sé ina mhuirear ar an gcéanna.
Memorandum Comhlachais na Cuideachtan.
4.—(1) Is sa bhfuirm sin, ná beidh buiniscionn leis an Acht so, a cheadóidh an tAire, tar éis dó dul i gcomhairle leis an Aire Airgeadais, a bheidh Memorandum Comhlachais na Cuideachtan.
(2) Déanfar cuspóirí na Cuideachtan do chur síos sa Mhemorandum Chomhlachais i slí gur léir gurb iad prímh-fheidhmeanna na Cuideachtan ná—
(a) an léas mianadóireachta Stáit sin fé Acht 1940, ar Ghual-Láthair Shliabh Ardachadh, is gá don Aire do réir an Achta so do thabhairt don Chuideachtain, d'iarraidh ar an Aire agus do ghlacadh uaidh, agus
(b) Gual-Láthair Shliabh Ardachadh d'fhorbairt agus d'oibriú fén léas mianadóireachta Stáit sin agus an gual agus na mianraí eile do gheobhfar de bharr an oibrithe sin do dhéanamh ionmhargaidh agus do dhíol, agus
(c) na ceadúnais lorgaireachta san agus na ceadúnais eile sin agus na léasanna san fé Acht 1940, alos guail (le n-a n-áirmhítear mianraí eile do gheibhtear in éineacht le gual de ghnáth) in áit ar bith seachas Gual-Láthair Shliabh Ardachadh, is ceart dar leis an gCuideachtain agus a dheonfaidh an tAire fén Acht san d'iarraidh agus do ghlacadh, agus na comhachta do bhéarfar leis na ceadúnais sin agus leis na léasanna san fé seach d'fheidhmiú agus an gual agus na mianraí eile bheidh á bhfáil de bharr na gcomhacht san do bheith á bhfeidhmiú do dhéanamh ionmhargaidh agus do dhíol.
(3) Is dleathach na cuspóirí agus na comhachta san uile (ná beidh buiniscionn leis an Acht so) a bheidh riachtanach do réir réasúin, no ceart, chun na gcuspóirí dá ngairmtear prímh-fheidhmeanna na Cuideachtan sa bhfo-alt deiridh sin roimhe seo den alt so do chólíonadh go cuibhe, no bheidh ag baint no ag gabháil le n-a gcólíonadh san go cuibhe, do bheith ar chuspóirí na Cuideachtan ar n-a luadh sa Mhemorandum Chomhlachais.
(4) Ní bheidh ar chuspóirí na Cuideachtan, ar n-a luadh sa Mhemorandum Chomhlachais, aon chuspóir ná deintear leis na forálacha san roimhe seo den alt so a cheangal no a údarú é luadh amhlaidh.
Airteagail Chomhlachais na Cuideachtan.
5.—(1) Is sa bhfuirm sin, ná beidh buiniscionn leis an Acht so, a cheadóidh an tAire, tar éis dó dul i gcomhairle leis an Aire Airgeadais, a bheidh Airteagail Chomhlachais na Cuideachtan.
(2) Beidh feidhm agus éifeacht ag na forálacha so leanas maidir le hAirteagail Chomhlachais na Cuideachtan, sé sin le rá:—
(a) ceapfar leis na hAirteagail sin an uimhir stiúrthóirí bheidh ar an gCuideachtain, ach ní mó ná seacht, agus an cathaoirleach agus an stiúrthóir bainistighe d'áireamh, an uimhir a ceapfar amhlaidh,
(b) forálfar leis na hAirteagail sin gurb é cáilíocht is gá chun duine bheith ina stiúrthóir don Chuideachtain ná scair amháin ar a laighead sa Chuideachtain do bheith aige;
(c) forálfar leis na hAirteagail sin gurb é dhéanfaidh i gcomhnaidhe an cathaoirleach agus an stiúrthóir bainistighe agus gach stiúrthóir eile do cheapadh ná an tAire Airgeadais agus gur tar éis dó dul i gcomhairle leis an Aire a dhéanfaidh san;
(d) ní déanfar aon chomhacht chun caipital na Cuideachtan do mhéadú no do laigheadú, ná aon chomhacht chun bintiúirí do thabhairt amach, do thabhairt don Chuideachtain leis na hAirteagail sin.
Memorandum Comhlachais agus Airteagail Chomhlachais na Cuideachtan d'atharú.
6.—D'ainneoin éinní atá sna hAchtanna Cuideachtan, ní bheidh aon atharú déanfar ar Mhemorandum Chomhlachais no ar Airteagail Chomhlachais na Cuideachtan bailidhe ná éifeachtach mara mbeidh an tAire tar éis dul i gcomhairle leis an Aire Airgeadais i dtaobh an atharuithe sin a dhéanamh agus a cheadú go ndéanfaí é.
Iasacht do thabhairt don Chuideachtain chun costaisí a mbunuithe d'íoc.
7.—(1) Féadfaidh an tAire suim nach mó ná dhá chéad agus caoga punt do thabhairt ar iasacht, amach as airgead ar n-a sholáthar ag an Oireachtas, don Chuideachtain ar na téarmaí agus na coinníollacha san, maidir le ham agus slí aisíoca agus le ráta úis agus le hurrús agus le nithe ar bith eile, is ceart dar leis.
(2) Déanfaidh an Chuideachta airgead do bhéarfar ar iasacht don Chuideachtain fén alt so d'úsáid chun no mar chabhair chun íoctha na gcostas a bhainfidh le n-a thabhairt go mbunófar an Chuideachta agus le n-a bunú agus le n-a clárú maraon le réamh-chostaisí eile na Cuideachtan agus chuige sin amháin.
(3) Na suimeanna uile íocfaidh an Chuideachta leis an Aire chun no mar chabhair chun airgead a bheidh tugtha ar iasacht don Chuideachtain fén alt so d'aisíoc no chun an úis ar an airgead san d'íoc, déanfar é íoc isteach sa Stát-Chiste no é chur chun tairbhe don Stát-Chiste sa tslí sin ordóidh an tAire Airgeadais.
(4) Na forálacha ina dhiaidh seo den Acht so i dtaobh airgead do roimh-íoc leis an gCuideachtain agus an t-airgead san d'aisíoc, agus i dtaobh an úis air, ní bhainfid le airgead do bhéarfar ar iasacht don Chuideachtain fén alt so.
An tAire do dheonadh léasa mhianadóireachta Stáit don Chuideachtain ar Ghual-Láthair Shliabh Ardachadh.
8.—(1) Chó luath agus is féidir é tar éis an Chuideachta do bhunú agus í theacht i dteideal tosnú ar ghnó dhéanamh, déanfaidh an Chuideachta léas mianadóireachta Stáit fé Acht 1940, ar Ghual-Láthair Shliabh Ardachadh, d'iarraidh ar an Aire fén Acht san.
(2) Déanfaidh an tAire, chó luath agus is féidir é tar éis dó an t-iarratas a luaidhtear sa bhfo-alt deiridh sin roimhe seo den alt so d'fháil, léas mianadóireachta Stáit, ar Ghual-Láthair Shliabh Ardachadh, do dheonadh don Chuideachtain fé Acht 1940.
An tAire do thabhairt roimhíocanna don Chuideachtain.
9.—(1) Is dleathach don Aire na suimeanna san (nach mó san iomlán ná céad míle punt) a theastóidh ón gCuideachtain chun crícheanna a ngnótha do roimh-íoc leis an gCuideachtain o am go ham, le toiliú an Aire Airgeadais, amach as airgead ar n-a sholáthar ag an Oireachtas.
(2) Déanfaidh an Chuideachta (lasmuich de chás dá bhforáltar a mhalairt leis an Acht so) na suimeanna roimh-íocfaidh an tAire leo fén alt so d'aisíoc do réir na bhforálacha ina dhiaidh seo den Acht so.
Us d'íoc ar roimh-íocanna do bhéarfar don Chuideachtain.
10.—(1) Gach suim a roimh-íocfar leis an gCuideachtain fén Acht so, íocfaidh an Chuideachta ús uirthi leis an Aire, o dháta roimh-íoctha na suime sin go dtí go mbeidh sí aisíoctha, do réir an ráta san a cheapfaidh an tAire Airgeadais o am go ham alos na suime sin, agus is ina n-íocaíochtaí leath-bhliantúla, agus ar na laetheanta san i ngach bliain a cheapfaidh an tAire Airgeadais o am go ham, a híocfar an t-ús san amhlaidh.
(2) Is dleathach don Aire tráth ar bith, ach toiliú an Aire Airgeadais do bheith aige chuige sin, déanamh in éamais aon íocaíochta leath-bhliantúla áirithe úis is iníoctha ag an gCuideachtain fén alt so no a híoc do chur siar go ceann na haimsire sin is ceart dar leis.
(3) I gcás an Chuideachta d'fhágaint aon íocaíochta leathbhliantúla úis áirithe is iníoctha ag an gCuideachtain fén alt so gan íoc (agus nach de bhuadh an Aire do dhéanamh in éamais íocaíochta fén bhfo-alt deiridh sin roimhe seo den alt so thárlóidh san) déanfaidh an Chuideachta (pé aca cur siar fén bhfo-alt deiridh sin roimhe seo ba thrúig leis an bhfágaint gan íoc san no nach eadh) ús d'íoc leis an Aire, do réir an ráta cheapfaidh an tAire Airgeadais, ar an íocaíocht leath-bhliantúil úis sin go dtí go mbeidh an tsuim íoctha.
(4) An t-ús uile íocfaidh an Chuideachta leis an Aire fén alt so, déanfar é íoc isteach sa Stát-Chiste no é chur chun tairbhe don Stát-Chiste sa tslí sin ordóidh an tAire Airgeadais.
Roimh-íocanna do bhéarfar don Chuideachtain d'aisíoc.
11.—(1) Na suimeanna uile roimh-íocfar leis an gCuideachtain fén Acht so, aisíocfaidh an Chuideachta leis an Aire iad ina dtráthchoda leath-bhliantúla ina mbeidh na méideanna san agus a thosnóidh ar bheith iníoctha ar an dáta san agus a leanfaidh de bheith iníoctha ar feadh na huimhreach san blian agus a híocfar na trátha san a cheapfaidh an tAire Airgeadais tar éis dó dul i gcomhairle leis an Aire, agus féadfar méideanna, dátaí, uimhreacha, agus trátha deifriúla den tsórt san do cheapadh amhlaidh maidir le suimeanna deifriúla roimh-íocfar amhlaidh.
(2) Na tráthchoda leath-bhliantúla uile agus fé seach is iníoctha ag an gCuideachtain leis an Aire fén alt so alos aon tsuime áirithe roimh-íocfar leis an gCuideachtain fén Acht so, úsáidfear iad ar nós ciste fhiach-laigheaduithe chun na suime sin d'aisíoc.
(3) Is dleathach don Aire tráth ar bith, ach toiliú an Aire Airgeadais do bheith aige chuige sin, déanamh in éamais íoca aon tráthchoda leath-bhliantúla áirithe is iníoctha ag an gCuideachtain fén alt so no a híoc do chur siar go ceann na haimsire sin is ceart dar leis.
(4) I gcás an Chuideachta d'fhágaint aon tráthchoda leathbhliantúla áirithe is iníoctha ag an gCuideachtain fén alt so gan íoc (agus nach de bhuadh an Aire do dhéanamh in éamais íocaíochta fén bhfo-alt deiridh sin roimhe seo den alt so thárlóidh san) déanfaidh an Chuideachta (pé aca cur siar fén bhfo-alt deiridh sin roimhe seo ba thrúig leis an bhfágaint gan íoc san no nach eadh) ús d'íoc leis an Aire, do réir an ráta cheapfaidh an tAire Airgeadais, ar an tráthchuid leath-bhliantúil sin go dtí go mbeidh an céanna íoctha.
(5) Gach tráthchuid leath-bhliantúil agus an t-ús uile (más ann dó) íocfaidh an Chuideachta leis an Aire fén alt so, déanfar é íoc isteach sa Stát-Chiste no é chur chun tairbhe don Stát-Chiste sa tslí sin ordóidh an tAire Airgeadais.
Comhacht don Aire chun a cheangal ar an gCuideachtain lorgaireacht do dhéanamh.
12.—(1) Is dleathach don Aire a cheangal ar an gCuideachtain, aon tráth no trátha, ceachtar ní aca so leanas do dhéanamh, sé sin le rá:—
(a) lorgaireacht agus scrúdú do dhéanamh ar aon chuid áirithe de Ghual-Láthair Shliabh Ardachadh d'fhonn a fháil amach cadé an saghas agus cadé an méid guail agus mianraí eile atá inti agus ar mhaith an rud na mianraí sin d'oibriú tré chur leis na hoibrithe atá ann cheana no tré oibrithe nua d'oscailt;
(b) a iarraidh ar an Aire ceadúnas lorgaireachta do dheonadh dhóibh fé Acht 1940 alos aon tailimh áirithe nach cuid de Ghual-Láthair Shliabh Ardachadh agus, ar fháil an cheadúnais lorgaireachta san dóibh, lorgaireacht agus scrúdú do dhéanamh ar an talamh san d'fhonn a fháil amach cadé an saghas agus cadé an méid guail (le n-a n-áirmhítear mianraí eile do gheibhtear in éineacht le gual de ghnáth) atá sa talamh san agus ar mhaith an rud an gual san agus na mianraí eile sin d'oibriú.
(2) Beidh sé de dhualgas ar an gCuideachtain ceangaltas ar bith, ar n-a dhéanamh ag an Aire fén bhfo-alt san roimhe seo den alt so, do chólíonadh.
(3) Is dleathach don Aire, ach toiliú an Aire Airgeadais do bheith aige chuige sin, íoc do dhéanamh leis an gCuideachtain o am go ham, amach as airgead ar n-a sholáthar ag an Oireachtas, sna suimeanna san is ceart dar leis an Aire d'íoc leo chun go bhféadfaidís ceangaltais, ar n-a ndéanamh ag an Aire fén alt so, do chólíonadh.
(4) Ní dhéanfaidh an tAire níos mó ná trí mhíle punt d'íoc leis an gCuideachtain fén alt so in aon bhliain airgeadais áirithe agus is chun íoc na gcostas fé n-a raghaid de dhruim ceangaltais ar n-a ndéanamh ag an Aire fén alt so do chólíonadh, agus chuige sin amháin, a chaithfidh an Chuideachta na suimeanna uile a híocfar leo amhlaidh.
Comhachta an Aire Airgeadais mar scaireánach.
13.—Féadfaidh an tAire Airegeadais, maidir leis na scaireanna de chuid na Cuideachtan a bheidh aige de thurus na huaire, feidhmiú do dhéanamh ar gach ceann no aon cheann no cinn de sna cirt agus na comhachta is infheidhmithe o am go ham ag sealbhóir na scaireanna san agus, i gcás na cirt no na comhachta san do bheith infeidhmithe tré atúrnae, féadfaidh an tAire sin na cirt no na comhachta san d'fheidhmiú tré n-a atúrnae más ceart san dar leis.
E d'oblagáid scaireanna do shealbhú ar iontaobhas don Aire Airgeadais.
14.—(1) Is ar iontaobhas don Aire Airgeadais a shealbhóidh gach ball den Chuideachtain (agus suibscríobhaithe Memorandum Chomhlachais na Cuideachtan d'áireamh ach gan an tAire Airgeadais d'áireamh) a chuid scaireanna sa Chuideachtain, agus dá réir sin beidh sé de cheangal ar gach ball den tsórt san gach díbhinn agus bonus agus airgead eile do gheobhaidh ar na scaireanna san no dá mbarr d'íoc leis an Aire Airgeadais chun tairbhe don Stát-Chiste agus fós gach ceann no aon cheann no cinn de sna scaireanna san d'aistriú, fé mar agus nuair a cheanglóidh an tAire sin air san do dhéanamh, chun an Aire sin no chun duine ar n-a ainmniú ag an Aire sin chuige sin.
(2) Chun na bhforálacha san de sna hAchtanna Cuideachtan gur gá dá réir seacht mbaill ar a laighead do bheith sa Chuideachtain i gcomhnaidhe do chólíonadh no i dtreo go mbeidh ag duine ceapfar no bheidh le ceapadh chun bheith ina stiúrthóir don Chuideachtain na cáilíochta is gá, is dleathach don Aire Airgeadais ceachtar ní no an dá ní aca so leanas do dhéanamh o am go ham fé mar is gá, sé sin le rá:—
(a) ceann no cinn de sna scaireanna sa Chuideachtain a bheidh ag an Aire sin de thurus na huaire d'aistriú (fé réir an tsriain a forchuirtear leis an gcéad fho-alt ina dhiaidh seo den alt so) chun duine ar bith;
(b) a cheangal ar aon bhall áirithe den Chuideachtain gach ceann no aon cheann no cinn de sna scaireanna sa Chuideachtain a bheidh aige d'aistriú chun an Aire sin no chun duine ar bith eile.
(3) Lasmuich de chás dá n-údaruítear a mhalairt leis an bhfo-alt deiridh sin roimhe seo den alt so, ní aistreoidh an tAire Airgeadais ná ní leigfidh uaidh ar shlí eile aon scair no scaireanna sa Chuideachtain a bheidh aige de thurus na huaire ná ní dhéanfaidh na comhachta do bheirtear dó leis an bhfo-alt deiridh sin roimhe seo d'fheidhmiú i slí gur lugha ná aon agus caoga tráth ar bith an uimhir scaireanna sa Chuideachtain a bheidh aige.
Díbhinní, etc,. d'íoc isteach sa Stát-Chiste.
15.—Gach díbhinn agus bonus agus airgead eile do gheobhaidh an tAire Airgeadais, alos scaireanna de chuid na Cuideachtan a bheidh aige no ar iontaobhas dó, déanfar é íoc isteach sa Stát-Chiste no é chur chun tairbhe don Stát-Chiste sa tslí sin ordóidh an tAire sin.
E d'oblagáid cuntaisí cothromaíochta, etc., do thabhairt don Aire.
16.—(1) Bhéarfaidh an Chuideachta don Aire, fé cheann nócha lá tar éis deireadh gach bliana cuntasaíochta fé leith, cuntas cothromaíochta don bhliain chuntasaíochta san agus an cuntas san iniúchta go cuibhe ag iniúchóir na Cuideachtan agus fós cuntas sochair agus dochair don bhliain chuntasaíochta chéanna agus é iniúchta amhlaidh.
(2) An cuntas cothromaíochta agus an cuntas sochair agus dochair a bheidh le tabhairt don Aire mar adubhradh, is sa bhfuirm sin ordóidh an tAire, tar éis dó dul i gcomhairle leis an Aire Airgeadais, a déanfar amach iad, agus beidh sa chuntas chothromaíochta san (i dteanta éinní is gá do réir an orduithe sin do bheith ann) cuimre ar chaipital agus ar shócmhainní agus ar fhiachaisí na Cuideachtan maraon leis na mion-innste sin a nochtfaidh cadé saghas na sócmhainní agus na fiachaisí sin agus conus a háirmhíodh luach na sócmhainní.
(3) Ar an Aire dá iarraidh sin ortha, bhéarfaidh an Chuideachta dhó na mínithe sin a theastóidh uaidh alos aon chuntais choth romaíochta áirithe no aon chuntais sochair agus dochair áirithe bheidh tugtha dhó de bhun an ailt seo.
(4) Déanfaidh an tAire cóip de gach cuntas cothromaíochta agu de gach cuntas sochair agus dochair do bhéarfar dó de bhun an ailt seo do leagadh fé bhráid gach Tighe den Oireachtas fé cheann mí tar éis an cuntas cothromaíochta agus an cuntas sochair agus dochair sin do thabhairt dó amhlaidh.
(5) Má fhágann an Chuideachta aon cheann no cinn d'fhorálacha an ailt seo gan cólíonadh, beidh an Chuideachta, maraon le gach stiúrthóir agus bainisteoir agus oifigeach eile don Chuideachtain d'údaruigh no do cheaduigh an fhaillighe sin go feasach agus go toiliúil, ciontach i gcionta fén alt so agus ar a gciontú ann ar an slí achmair dlighfear fíneáil ná raghaidh thar cúig púint do chur ortha in aghaidh gach lae leanfaidh an fhaillighe sin.
Costaisí.
17.—Sa mhéid go gceadóidh an tAire Airgeadais é, is amach as airgead ar n-a sholáthar ag an Oireachtas a híocfar na costaisí fé n-a raghaidh an tAire chun an Achta so do riaradh.
Gearr-theideal.
18.—Féadfar Acht Forbairte Gual-Láthrach Shliabh Ardachadh, 1941, do ghairm den Acht so.
Number 8 of 1941.
SLIEVARDAGH COALFIELD DEVELOPMENT ACT, 1941.
ARRANGEMENT OF SECTIONS
Act Referred to | |
No. 31 of 1940 | |
Number 8 of 1941.
SLIEVARDAGH COALFIELD DEVELOPMENT ACT, 1941.
Definitions.
1.—In this Act—
the expression “the Minister” means the Minister for Industry and Commerce;
the expression “the Act of 1940” means the Minerals Development Act, 1940 (No. 31 of 1940);
the expression “the Companies Acts” means the Companies Acts, 1908 to 1924;
the expression “the Slievardagh Coalfield” means the mines, veins, and seams of coal, and the minerals which became and, at the passing of this Act, are vested in the Minister by the Minerals Acquisition (Slievardagh Coalfield) Order, 1941, made by the Minister under the Act of 1940;
the word “work”, when used in relation to minerals, includes digging, searching for, mining, getting, raising, taking, carrying away, treating, and converting the minerals in relation to which the said word is used, and cognate words shall be construed accordingly;
the expression “prospecting licence” means a prospecting licence within the meaning of the Act of 1940;
the expression “State mining lease” means a State mining lease within the meaning of the Act of 1940;
Formation and registration of the Company.
2.—As soon as may be after the passing of this Act the Minister shall, after consultation with the Minister for Finance, take all such steps as appear to him necessary or desirable to procure that a limited company (in this Act referred to as “the Company”) conforming to the conditions laid down in this Act shall be formed and registered under the Companies Acts.
Name and capital of the Company.
3.—(1) The name of the Company shall be “Comhlucht Gual-Láthrach Shliabh Ardachadh, Teoranta”.
(2) The share capital of the Company shall be one hundred pounds divided into one hundred fully paid shares of one pound each and, notwithstanding anything contained in the Companies Acts, it shall not be lawful for the Company to increase or reduce that capital.
(3) One share in the share capital of the Company shall be allotted and issued to each of the subscribers to the Memorandum of Association of the Company and the residue of the said share capital shall be allotted and issued to the Minister for Finance.
(4) The money payable by the subscribers to the Memorandum of Association of the Company and the Minister for Finance respectively as consideration for the allotment and issue to them of shares in the share capital of the Company in pursuance of the next preceding sub-section of this section shall be paid out of and shall be charged on the Central Fund or the growing produce thereof.
The Memorandum of Association of the Company.
4.—(1) The Memorandum of Association of the Company shall be in such form consistent with this Act as shall be approved of by the Minister after consultation with the Minister for Finance.
(2) The objects of the Company shall be so stated in the Memorandum of Association that the principal functions of the Company shall be—
(a) to apply for and take from the Minister such State mining lease under the Act of 1940 of the Slievardagh Coalfield as the Minister is required by this Act to make to the Company, and
(b) to develop and work the Slievardagh Coalfield under the said State mining lease and to make marketable and sell the coal and other minerals got by such working, and
(c) to apply for and take such prospecting and other licences and such leases under the Act of 1940 in respect of coal (including other minerals ordinarily found in association therewith) elsewhere than in the Slievardagh Coalfield as the Company shall think proper and the Minister shall grant under the said Act and to exercise the powers conferred by such licences and leases respectively and to make marketable and sell the coal and other minerals got by the exercise of those powers.
(3) It shall be lawful to include amongst the objects of the Company as stated in the Memorandum of Association all such objects and powers (not inconsistent with this Act) as are reasonably necessary or proper for or incidental or ancillary to the due performance of the objects referred to in the next preceding sub-section of this section as the principal functions of the Company.
(4) The objects of the Company as stated in the Memorandum of Association shall not include any object which is neither required nor authorised by the foregoing provisions of this section to be so stated.
The Articles of Association of the Company.
5.—(1) The Articles of Association of the Company shall be in such form consistent with this Act as shall be approved of by the Minister after consultation with the Minister for Finance.
(2) The following provisions shall apply and have effect in relation to the Articles of Association of the Company, that is to say:—
(a) the said Articles shall fix the number of the directors of the Company, but the number so fixed shall not exceed seven, including the chairman and the managing director;
(b) the said Articles shall provide that the qualification for being a director of the Company shall be the holding of at least one share in the Company;
(c) the said Articles shall provide that the chairman, the managing director, and all the other directors shall always be appointed by the Minister for Finance after consultation with the Minister;
(d) the said Articles shall not confer on the Company any power to increase or reduce the capital of the Company or any power to issue debentures.
Alteration of Memorandum and Articles of Association of the Company.
6.—Notwithstanding anything contained in the Companies Acts, no alteration in the Memorandum of Association or Articles of Association of the Company shall be valid or effectual unless made with the previous approval of the Minister given after consultation with the Minister for Finance.
Loan to Company to pay expenses of formation.
7.—(1) The Minister may, out of moneys provided by the Oireachtas, lend to the Company, upon such terms and conditions as to time and manner of repayment, rate of interest, security, and other matters whatsoever as he shall think proper, a sum not exceeding two hundred and fifty pounds.
(2) Money lent to the Company under this section shall be applied by the Company in or towards paying the expenses of the promotion, formation, and registration of the Company and the other preliminary expenses of the Company and for no other purpose.
(3) All sums paid to the Minister by the Company in or towards repayment of money lent to the Company under this section or in payment of the interest on such money shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct.
(4) The subsequent provisions of this Act in relation to the advancement of moneys to the Company and the repayment of such advances and the interest thereon shall not apply to money lent to the Company under this section.
State mining lease of the Slievardagh Coalfield by the Minister to the Company.
8.—(1) As soon as may be after the Company has been formed and has become entitled to commence business, the Company shall apply under the Act of 1940 to the Minister for a State mining lease under that Act of the Slievardagh Coalfield.
(2) Upon the receipt of the application mentioned in the next preceding sub-section of this section, the Minister shall with all convenient speed grant under the Act of 1940 to the Company a State mining lease of the Slievardagh Coalfield,
Advances by the Minister to the Company.
9.—(1) It shall be lawful for the Minister from time to time, with the consent of the Minister for Finance, to advance to the Company out of moneys provided by the Oireachtas such sums (not exceeding in the aggregate one hundred thousand pounds) as the Company shall require for the purposes of its business.
(2) Sums advanced by the Minister to the Company under this section shall (save as is otherwise provided by this Act) be repaid by the Company in accordance with the subsequent provisions of this Act.
Payment of interest on advances to the Company.
10.—(1) The Company shall pay to the Minister on every sum advanced to the Company under this Act interest, from the date of the advance of such sum until it is repaid, at such rate as shall from time to time be appointed by the Minister for Finance in respect of such sum, and such interest shall be so paid by half-yearly payments on such days in every year as the Minister for Finance shall from time to time appoint.
(2) It shall be lawful for the Minister at any time, with the consent of the Minister for Finance, to waive altogether or to postpone for such time as he thinks proper the payment of any particular half-yearly payment of interest payable by the Company under this section.
(3) If the Company fails (otherwise than by virtue of a waiver under the next preceding sub-section of this section) to pay any half-yearly payment of interest payable by the Company under this section, the Company shall (whether such failure was or was not due to a postponement under the said next preceding sub-section) pay to the Minister interest at the rate appointed by the Minister for Finance on such half-yearly payment of interest until the sum is actually paid.
(4) All interest paid by the Company to the Minister under this section shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct.
Repayment of advances to the Company.
11.—(1) All sums advanced to the Company under this Act shall be repaid by the Company to the Minister by half-yearly instalments of such amounts and beginning on such date and continuing for such number of years and payable at such times as the Minister for Finance, after consultation with the Minister, shall appoint, and different such amounts, dates, numbers of years, and times may be so appointed in respect of different sums so advanced.
(2) The several half-yearly instalments payable by the Company to the Minister under this section in respect of any particular sum advanced to the Company under this Act shall be applied as a sinking fund for the repayment' of that sum.
(3) It shall be lawful for the Minister at any time, with the consent of the Minister for Finance to waive altogether or to postpone for such time as he thinks proper the payment of any particular half-yearly instalment payable by the Company under this section.
(4) If the Company fails (otherwise than by virtue of a waiver under the next preceding sub-section of this section) to pay any half-yearly instalment payable by the Company under this section, the Company shall (whether such failure was or was not due to a postponement under the said next preceding sub-section) pay to the Minister interest at the rate appointed by the Minister for Finance on such half-yearly instalment until the same is actually paid.
(5) Every half-yearly instalment and all (if any) interest paid by the Company to the Minister under this section shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct.
Power of the Minister to require the Company to prospect.
12.—(1) It shall be lawful for the Minister at any time or times to require the Company to do either of the following things, that is to say:—
(a) to prospect and examine any specified part of the Slievardagh Coalfield for the purpose of ascertaining the nature and quantity of the coal and other minerals therein and the advisability of working those minerals by extension of existing workings or the opening of new workings;
(b) to apply to the Minister for the grant under the Act of 1940 of a prospecting licence in respect of any particular land not within the Slievardagh Coalfield and, upon receiving such prospecting licence, to prospect and examine such land for the purpose of ascertaining the nature and quantity of the coal (including other minerals ordinarily found in association therewith) in such land and the advisability of working such coal and other minerals.
(2) It shall be the duty of the Company to comply with any requisition made by the Minister under the foregoing sub-section of this section.
(3) It shall be lawful for the Minister, with the consent of the Minister for Finance, to pay to the Company from time to time, out of moneys provided by the Oireachtas, such sums as the Minister shall think proper for the purpose of complying with requisitions made by the Minister under this section.
(4) Not more than three thousand pounds shall be paid by the Minister to the Company under this section in any one financial year, and all sums so paid shall be expended by the Company exclusively in defraying expenses incurred in complying with requisitions made by the Minister under this section.
Power of the Minister for Finance as shareholder.
13.—The Minister for Finance may, in respect of the shares of the Company for the time being held by him, exercise all or any of the rights and powers from time to time exercisable by the holder of such shares, and where such rights or powers are exercisable by attorney the said Minister may, if he so thinks proper, exercise such rights or powers by his attorney.
Obligation to hold shares in trust for the Minister for Finance.
14.—(1) Every member of the Company (including the subscribers to the Memorandum of Association of the Company but excluding the Minister for Finance) shall hold his shares in the Company upon trust for the Minister for Finance, and shall accordingly be bound to pay every dividend, bonus, and other money received by such member on or in respect of such shares to the Minister for Finance for the benefit of the Exchequer and to transfer, as and when required by the said Minister, all or any of such shares to the said Minister or a person nominated in that behalf by the said Minister.
(2) It shall be lawful for the Minister for Finance, from time to time as occasion requires for the purpose of compliance with so much of the Companies Acts as requires that there shall always be at least seven members of the Company or for the purpose of providing a person appointed or intended to be appointed to be a director of the Company with the necessary qualifications, to do either or both of the following things, that is to say:—
(a) transfer (subject to the restriction imposed by the next following sub-section of this section) to any person one or more of the shares in the Company for the time being held by the said Minister;
(b) require any member of the Company to transfer all or any one or more of the shares in the Company held by him to the said Minister or any other person.
(3) Save as is authorised by the next preceding sub-section of this section, the Minister for Finance shall not transfer or otherwise alienate any of the shares in the Company for the time being held by him and he shall not so exercise the powers conferred on him by the said next preceding sub-section as to reduce at any time the number of shares in the Company held by him to less than fifty-one.
Payment of dividends, etc., into the Exchequer.
15.—Every dividend, bonus, and other money received by the Minister for Finance in respect of shares of the Company held by or in trust for him shall be paid into or disposed of for the benefit of the Exchequer in such manner as the said Minister may direct.
Obligation to furnish balance sheets, etc., to the Minister.
16.—(1) The Company shall within ninety days after the end of every accounting year furnish to the Minister a balance sheet for such accounting year duly audited by the auditor of the Company and also a profit and loss account for the same accounting year similarly audited.
(2) The balance sheet and profit and loss account to be furnished as aforesaid shall be drawn up in such manner as the Minister, after consultation with the Minister for Finance, shall direct, and such balance sheet shall contain (in addition to any matter required by such direction) a summary of the capital, assets, and liabilities of the Company together with such particulars as will disclose the nature of such assets and liabilities and the manner in which the value of the assets was arrived at.
(3) The Company shall on demand furnish to the Minister such explanations as the Minister shall think proper to require in respect of any balance sheet or profit and loss account furnished pursuant to this section.
(4) A copy of every balance sheet and profit and loss account furnished to the Minister pursuant to this section shall be laid by him before each House of the Oireachtas within one month after such balance sheet and profit and loss account are so furnished to him.
(5) If the Company makes default in complying with any of the provisions of this section, the Company, and every director, manager, and other officer of the Company, who knowingly and wilfully authorised or permitted such default, shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding five pounds for every day during which the default continues.
Expenses.
17.—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.
18.—This Act may be cited as the Slievardagh Coalfield Development Act, 1941.