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[EN]

Uimhir 31 de 1945.


[EN]

AN tACHT GROIGHE NÁISIÚNTA, 1945.

[An tionntó oifigiúil.]

ACHT DO DHÍLSIÚ NA dTAILTE STÁIT AR AN TULAIGH I gCONTAE CHILL DARA AR A dTUGTAR AN GROIGHEALACH NÁISIÚNTA SAN AIRE TALMHAÍOCHTA, DÁ ÚDARÚ DON AIRE SIN LEASA DO THABHAIRT AGUS CEADÚNAIS DO DHEONADH MAIDIR LEIS AN nGROIGHEALACH NÁISIÚNTA, DO DHÉANAMH SOCRUITHE CHUN AN tAIRE SIN DO THIONNSCNAMH CUIDEACHTAN TEORANTA CHUN GNÓ GROIGHEALAIGH DO SHEOLADH SA GHROIGHEALACH NÁISIÚNTA, D'AISTRIÚ ÁIRNÉISE ÁIRITHE LEIS AN STÁT CHUN NA CUIDEACHTAN SAN, AGUS DO DHÉANAMH SOCRUITHE LE hAGHAIDH NITHE ÁIRITHE EILE BHAINEAS LEIS NA NITHE RÉAMHRÁITE. [4ú Lúnasa, 1945.] ACHTAÍTEAR AG AN OIREACHTAS MAR LEANAS:— [EN]

CUID I.

Reamhraiteach agus Ginearalta.

[EN]

Gearr-theideal.

1.—Féadfar an tAcht Groighe Náisiúnta, 1945, do ghairm den Acht so.

[EN]

Mínithe go ginearálta.

2.—San Acht so—

[EN]Airnéis.

folaíonn an focal “áirnéis” beo-dhíle;

[EN]Na hAchta Cuideachtan.

ciallaíonn an abairt “na hAchta Cuideachtan” na hAchta Cuideachtan, 1908 go 1924;

An Chuideachta.

ciallaíonn an abairt “an Chuideachta” Cólucht Groighe Náisiúnta na hÉireann, Teoranta (the Irish National Stud Company, Limited);

Dáta an aistrithe.

ciallaíonn an abairt “dáta an aistrithe” an dáta a ceapfar chun bheith ina dháta aistrithe le hordú ón Aire Airgeadais faoi alt 4 den Acht so.

[EN]

An Groighealach Náisiúnta.

3.—(1) San Acht so, ciallaíonn an abairt “an Groighealach Náisiúnta” na tailte leis an Stát dá ngairmtear agus ar a dtugtar go coitianta an Groighealach Náisiúnta, agus atá comhshuite de choda de thailte na Tulaighe Thoir, na Tulaighe Thiar, Curraghfarm agus Chill Dara, iad uile i mBarúntacht Ua bhFailghe Thoir agus i gContae Chill Dara, maraon le gach ceart móna agus féaraigh agus gach uile cheart eile a ghabhas nó a toimhtear bheith ag gabháil leis na tailte sin.

[EN]

(2) Beidh deimhniú faoi shéala oifigiúil an Aire Thalmhaíochta á dheimhniú gur cuid den Ghroighealach Náisiúnta aon talamh shonnraithe ina fhianaise prima facie ar an ní a deimhneofar amhlaidh.

[EN]

Dáta an aistrithe.

4.—Déanfaidh an tAire Airgeadais, a luaithe is caothúil tar éis an Chuideachta do chlárú, dáta do cheapadh chun bheith ina dháta aistrithe chun críocha an Achta so.

[EN]

Saoirse ó dhiúitéthe stampa.

5.—(1) Ní oibreoidh alt 12 den Finance Act, 1895, chun a cheangal ar an gCuideachtain cóip den Acht so do sheachadadh do na Coimisinéirí Ioncaim ná aon diúité stampa d'íoc faoin alt san ar aon chóip den Acht so.

[EN]

(2) Ní oibreoidh alt 112 den Stamp Act, 1891, chun a cheangal ar an gCuideachtain aon ráiteas do sheachadadh do chláraitheoir na gcuideachtan ná aon diúité stampa d'íoc faoin alt san i leith scair-chaipitil na Cuideachtan.

[EN]

(3) Ní bheidh aon diúité stampa iníoctha ar aon aistriú a déanfar ar scaireanna sa Chuideachtain.

[EN]

(4) Aon ionstraim a déanfar faoi alt 7 nó alt 8 den Acht so agus a séalófar le séala oifigiúil an Aire Thalmhaíochta, ní bheidh sí, de bhíthin amháin an séala san do bheith greamaithe dhi, ionchurtha faoi dhiúité stampa is aoirde ná an diúité faoina mbeadh sí ionchurtha dá mba ionstraim faoi láimh amháin í.

CUID II.

An Groighealach Naisiunta do Dhilsiu san Aire Talmhaiochta agus Cumhacht an Aire sin chun Leasa do Thabhairt agus Ceadunais do Dheonadh maidir leis an nGroighealach Naisiunta.

[EN]

An Groighealach Náisiúnta do dhílsiú san Aire Talmhaíochta.

6.—(1) Ar an Acht so do rith dilseoidh an Groighealach Náisiúnta, de bhuaidh an ailt seo agus gan aon leithliú ná sannadh, san Aire Talmhaíochta chun an eastáit nó an leasa uile a bhí ag an Stát ann díreach roimh an Acht so do rith.

[EN]

(2) Má bhíonn aon duine cláraithe faoin Registration of Title Act, 1891, mar únaer eastáit nó leasa in aon talamh a dhílseos, de bhuaidh fo-ailt (1) den alt so, san Aire Talmhaíochta, déanfaidh an t-údarás clárathachta faoin Acht san, ar dheimhniú faoi shéala oifigiúil an Aire sin do thaspáint á dheimhniú gur dhílsigh an talamh san ann de bhuaidh fo-ailt (1) den alt so, ainm an Aire sin do chur in ionad ainme an duine sin.

[EN]

Léasa maidir leis an nGroighealach Náisiúnta.

7.—(1) Faoi réir an ailt seo, féadfaidh an tAire Talmhaíochta, le toiliú an Aire Airgeadais, léasa ar feadh téarma ar bith do thabhairt maidir leis an nGroighealach Náisiúnta nó aon chuid de.

[EN]

(2) Beidh feidhm ag na forála so leanas maidir le gach léas do bhéarfar faoi fho-alt (1) den alt so—

[EN]

(a) mura dóigh leis an Aire Talmhaíochta go mba cheart ar mhaithe leis an bpoiblíocht an léas do thabhairt saor ó íocaíocht ar bith, bhéarfar é ar chomha go n-íocfar leis an Aire sin pé airgead, i ngné fíneála nó réamhíocaíochta eile nó i ngné cíosa nó sa dá ghné sin, a mheasfaidh an tAire sin is cóir agus ar a gcomhaontóidh leis an té atá le bheith ina léasaí;

[EN]

(b) beidh sa léas—

[EN]

(i) pé cumhnanta, coinníollacha agus comhaontuithe a mheasfaidh an tAire sin is ceart nó is inmhianuithe ar mhaithe leis an bpoiblíocht agus ar a gcomhaontóidh leis an té atá le bheith ina léasaí,

[EN]

(ii) províso i dtaobh athionadachta i gcás an léasaí do shárú, do neamhchomhlíonadh nó do neamhchoimeád aon chumhnaint, coinníll nó comhaontuithe dá mbeidh sa léas;

[EN]

(c) ní háireofar sa léas ná ní shroichfidh an léas aon mhianraí ná cearta mianadóireachta is mianraí Stáit chun críocha an Achta Forbairte Minearál, 1940 (Uimh. 31 de 1940), ach is cead go n-áireofaí ann nó go sroichfeadh sé aon cheann nó cinn acu so leanas, eadhon, gaineamh, gairbhéal, cloch agus cré, nach mó ná fiche troigh faoi uachtar talún.

[EN]

(3) Má bheartaíonn an tAire Talmhaíochta léas ar feadh aon téarma is sia ná cúig bliana do thabhairt faoi fho-alt (1) den alt so, leagfaidh sé faoi bhráid gach Tighe den Oireachtas ráiteas ina mbeidh sonnraí i dtaobh an tailimh a beartaítear a áireamh sa léas, ainm an té atá le bheith ina léasaí, an fhíneáil nó an réamhíocaíocht eile (más ann) agus an cíos (más ann) a beartaítear a éileamh agus na cumhnanta, na coinníollacha agus na comhaontuithe a beartaítear a chur sa léas.

[EN]

(4) Ní déanfar aon léas ar feadh aon téarma is sia ná cúig bliana do thabhairt faoi fho-alt (1) den alt so—

[EN]

(a) go dtí go mbeidh údaraithe le rún ag gach Tigh den Oireachtas an léas do thabhairt go modhnú nó gan modhnú ar na forála a beartaítear a chur sa léas, nó

[EN]

(b) go dtí deireadh pé tréimhse acu so leanas is sia, sé sin le rá—

[EN]

(i) dhá lá dhéag tar éis an chéad lae a shuífidh ceachtar Tigh den Oireachtas i ndiaidh an ráiteas iomchuibhe a luaitear i bhfo-alt (3) den alt so do leagadh faoi bhráid Tithe an Oireachtais,

[EN]

(ii) sé lá a shuífidh ceachtar Tigh den Oireachtas i ndiaidh an ráiteas san do leagadh amhlaidh faoi bhráid na dTithe.

[EN]

(5) Má húdaraítear le rún ó cheachtar Tigh den Oireachtas léas do thabhairt faoi fho-alt (1) den alt so faoi réir aon mhodhnuithe ar na forála a beartaítear a chur sa léas, ní tabharfar an léas ach amháin faoi réim agus faoi réir an mhodhnuithe sin.

[EN]

Ceadúnais maidir leis an nGroighealach Náisiúnta.

8.—(1) Féadfaidh an tAire Talmhaíochta, le toiliú an Aire Airgeadais, ceadúnas do dheonadh do dhuine ar bith, ar pé téarmaí agus coinníollacha a mheasfaidh an tAire Talmhaíochta is ceart, chun an Groighealach Náisiúnta nó aon chuid de d'úsáid agus do lonnú ar feadh aon tréimhse sonnraithe, go ginearálta nó i slí áirithe nó chun críche áirithe.

[EN]

(2) Aon cheadúnas a deonfar faoi fho-alt (1) den alt so chun aon chuid den Ghroighealach Náisiúnta a bheas ar seilbh ag an Aire Talmhaíochta mar thionóntacht ó bhliain go bliain d'úsáid agus do lonnú, ní tuigthe gur fo-ligean é ar an gcuid sin chun críocha an Land Law (Ireland) Act, 1881.

[EN]

Acht na dTailte Stáit, 1924, do scor d'fheidhm do bheith aige maidir leis an nGroighealach Náisiúnta.

9.—Scoirfidh Acht na dTailte Stáit, 1924 (Uimh. 45 de 1924), d'fheidhm do bheith aige maidir leis an nGroighealach Náisiúnta.

CUID III.

Cólucht Groighe Náisiúnta na hÉireann, Teoranta.

(The Irish National Stud Company, Ltd.)

[EN]

An Chuideachta do bhunú agus do chlárú.

10.—A luaithe is féidir tar éis an Achta so do rith, déanfaidh an tAire Talmhaíochta, tar éis dul i gcomhairle leis an Aire Air geadais, gach ní a chífear dó is gá nó is inmhianuithe chun a thabhairt go mbunófar agus go gclárófar faoi na hAchta Cuideachtan cuideachta theoranta a bheas do réir na gcoinníollacha atá leagtha síos san Acht so.

[EN]

Ainm agus caipiteal na Cuideachtan.

11.—(1) Cólucht Groighe Náisiúnta na hÉireann, Teoranta (The Irish National Stud Company, Limited), is ainm don Chuideachtain.

[EN]

(2) Is é is scair-chaipiteal don Chuideachtain dhá chéad agus caoga míle punt agus é roinnte ina scaireanna de phunt an ceann agus, d'ainneoin éinní dá bhfuil sna hAchta Cuideachtan, ní dleathach don Chuideachtain an caipiteal san do mhéadú ná do laghdú.

[EN]

Meamram Comhlachais na Cuideachtan.

12.—(1) Is i pé foirm, a bheas do réir an Achta so, a cheadóidh an tAire Talmhaíochta tar éis dul i gcomhairle leis an Aire Airgeadais, a bheas Meamram Comhlachais na Cuideachtan.

[EN]

(2) Déanfar cuspóirí na Cuideachtan do luadh sa Mheamram Comhlachais i slí a léireos gurb iad is príomh-chuspóirí don Chuideachtain—

[EN]

(a) pé léasa nó ceadúnais maidir leis an nGroighealach Náisiúnta nó le haon chuid de do ghlacadh a bhéarfaidh nó a dheonfaidh an tAire Talmhaíochta don Chuideachtain ó am go ham;

[EN]

(b) gnó groighealaigh do sheoladh ar aon talamh lena mbainfidh aon léas nó ceadúnas den tsórt san agus ar aon talamh eile a bheas ar seilbh ag an gCuideachtain.

[EN]

Airteagail Chomhlachais na Cuideachtan.

13.—(1) Is i pé foirm, a bheas do réir an Achta so, a cheadóidh an tAire Talmhaíochta tar éis dul i gcomhairle leis an Aire Airgeadais a bheas Airteagail Chomhlachais na Cuideachtan.

[EN]

(2) Beidh feidhm ag na forála so leanas maidir le hAirteagail Chomhlachais na Cuideachtan, sé sin le rá—

[EN]

(a) forálfaidh na hAirteagail sin nach lú ná triúr ná nach mó ná cúigear líon na stiúrthóirí (agus an cathaoirleach d'áireamh);

[EN]

(b) forálfaidh na hAirteagail sin gurb é cáilíocht is gá chun duine bheith ina stiúrthóir ar an gCuideachtain scair amháin ar a laghad sa Chuideachtain do bheith aige;

[EN]

(c) forálfaidh na hAirteagail sin go ndéanfar i gcomhnaí cathaoirleach agus stiúrthóirí eile uile na Cuideachtan do cheapadh, agus go bhféadfar iad do chur as oifig, ag an Aire Airgeadais, tar éis dó dul i gcomhairle leis an Aire Talmhaíochta;

[EN]

(d) forálfaidh na hAirteagail sin go gceapfaidh an tAire Airgeadais ó am go ham, tar éis dul i gcomhairle leis an Aire Talmhaíochta, luach saothair an chathaoirligh agus na stiúrthóirí eile;

[EN]

(e) forálfaidh na hAirteagail sin ná hainmneofar duine ar bith mar Iniúchóir don Chuideachtain gan ceadú an Aire Airgeadais arna thabhairt tar éis dó dul i gcomhairle leis an Aire Talmhaíochta;

[EN]

(f) ní thabharfaidh na hAirteagail sin don Chuideachtain aon chumhacht chun caipiteal na Cuideachtan do mhéadú ná do laghdú ná aon chumhacht chun bintiúirí d'eisiúin ná, ach amháin do réir an Achta so, chun airgead d'fháil ar iasacht.

[EN]

An Meamram nó na hAirteagail Chomhlachais d'athrú.

14.—D'ainneoin éinní dá bhfuil sna hAchta Cuideachtan, ní bheidh aon athrú ar Mheamram Comhlachais nó Airteagail Chomhlachais na Cuideachtan bailí ná éifeachtach muran le réamhcheadú an Aire Thalmhaíochta arna thabhairt tar éis dó dul i gcomhairle leis an Aire Airgeadais a déanfar é.

[EN]

Iasacht don Chuideachtain chun costais a bunuithe d'íoc.

15.—(1) Féadfaidh an tAire Talmhaíochta suim nach mó ná dhá chéad agus caoga punt do thabhairt ar iasacht don Chuideachtain, as airgead arna sholáthar ag an Oireachtas, ar pé téarmaí agus coinníollacha a mheasfaidh is ceart maidir le ham agus modh aisíoctha, ráta úis, urrús agus nithe ar bith eile.

[EN]

(2) Déanfaidh an Chuideachta aon airgead a bhéarfar ar iasacht don Chuideachtain faoin alt so d'úsáid chun nó mar chabhair chun íoctha costas tionnscnaimh, bunuithe, agus cláruithe na Cuideachtan agus réamhchostas eile na Cuideachtan agus chuige sin amháin.

[EN]

(3) Na suimeanna uile a íocfaidh an Chuideachta leis an Aire Talmhaíochta chun nó mar chabhair chun aon airgead a bheas tugtha ar iasacht don Chuideachtain faoin alt so d'aisíoc nó chun an t-ús ar aon airgead den tsórt san d'íoc, déanfar iad d'íoc isteach sa Stát-Chiste nó do chur chun tairbhe don Stát-Chiste i pé slí a ordóidh an tAire Airgeadais.

[EN]

Scair-chaipiteal na Cuideachtan d'eisiúin.

16.—(1) Déanfar aon scair amháin i scair-chaipiteal na Cuideachtan do dháiliú agus d'eisiúin do gach duine de shuibscríobhaithe Mheamram Comhlachais na Cuideachtan agus déanfar, faoi réir forál an Achta so, an chuid eile de scair-chaipiteal na Cuideachtan do dháiliú agus d'eisiúin don Aire Airgeadais.

[EN]

(2) An t-airgead is iníoctha ag suibscríobhaithe Mheamram Comhlachais na Cuideachtan i gcomaoin scaireanna i scairchaipiteal na Cuideachtan do dháiliú agus d'eisiúin dóibh de bhun fo-ailt (1) den alt so, réamhíocfar é as an bPríomh-Chiste nó as a thoradh fáis.

[EN]

Srianta le scairchaipiteal na Cuideachtan d'eisiúin.

17.—Ní déanfar tráth ar bith aon eisiúin ar scair-chaipiteal na Cuideachtan (seachas scair-chaipiteal a ndéanfar é d'eisiúin do shuibscríobhaithe Mheamram Comhlachais na Cuideachtan nó scaireanna a gceangaltar le halt 18 den Acht so ar an gCuideachtain iad d'eisiúin don Aire Airgeadais) mura ndéana an tAire Airgeadais, tar éis dul i gcomhairle leis an Aire Talmhaíochta, an eisiúin sin d'údarú.

[EN]

Scaireanna d'eisiúin don Aire Airgeadais i gcomaoin áirnéis d'aistriú.

18.—Chun go gcinnfear agus chun a áirithiú go n-íocfar leis an Stát suim a bheas le n-íoc ag an gCuideachtain i gcomaoin an aistrithe (a thiocfas in éifeacht ar dháta an aistrithe trí oibriú ailt 31 den Acht so) a déanfar chun na Cuideachtan ar an áirnéis leis an Stát a bheas ar an nGroighealach Náisiúnta ar dháta an aistrithe, beidh éifeacht ag na forála so leanas, sé sin le rá:—

[EN]

(a) déanfaidh an tAire Airgeadais, a luaithe is féidir tar éis dáta an aistrithe, deimhniú do thabhairt i scríbhinn á dheimhniú cad é an tsuim is dóigh leis is iníoctha ag an gCuideachtain i gcomaoin an aistrithe sin;

[EN]

(b) déanfaidh an Chuideachta, ar an Aire Airgeadais dá iarraidh sin tráth ar bith tar éis dó an deimhniú san do thabhairt, gnáth-scaireannaa lán-íoctha sa Chuideachtan is comhionann (ina n-ainm-luach) leis an tsuim a bheas deimhnithe amhlaidh d'eisiúin don Aire Airgeadas gan íocaíocht uaidh sin.

[EN]

Cumhacht an Aire chun scaireanna do thógaint trí shuibscríobhadh.

19.—Féadfaidh an tAire Airgeadais ó am go ham aon scaireanna sa Chuideachtain do thógaint trí shuibscríobhadh.

[EN]

Cumhachta an Aire Airgeadais mar scairshealbhóir.

20.—Féadfaidh an tAire Airgeadais, maidir leis na scaireanna sa Chuideachtain a bheas ar seilbh aige de thuras na huaire, gach ceann nó aon cheann de na cearta agus na cumhachta is infheidhmithe ó am go ham ag sealbhóir scaireanna den tsórt san d'fheidhmiú faoi réir an Achta so, agus má bhíonn na cearta nó na cumhachta san infheidhmithe trí atúrnae féadfaidh an tAire sin, má mheasann sé gur ceart é, na cearta nó na cumhachta san d'fheidhmiú trína atúrnae.

[EN]

Airgead do réamhíoc as an bPríomh-Chiste.

21.—(1) An t-airgead uile a theastós ó am go ham ón Aire Airgeadais chun íocaíochta do dhéanamh is gá dhó a dhéanamh i leith aon scaireanna a mbeidh suibscríofa aige dhóibh faoin Acht so, réamhíocfar é as an bPríomh-Chiste nó as a thoradh fáis.

[EN]

(2) Chun airgead do sholáthar le haghaidh na suimeanna a réamhíocfar as an bPríomh-Chiste faoin alt so, féadfaidh an tAire Airgeadais aon tsuim nó suimeanna d'fháil ar iasacht ó dhuine ar bith, agus chun críche na hiasachta san féadfaidh an tAire sin urrúis do chruthnú agus d'eisiúin ar pé ráta úis agus faoi réir pé coinníollacha i dtaobh aisíoca nó fuascailte nó eile is oiriúnach leis, agus íocfaidh isteach sa Stát-Chiste an t-airgead a gheobhfar ar iasacht amhlaidh.

[EN]

(3) Is ar an bPríomh-Chiste nó ar a thoradh fáis a bheas muirear bun-airgid agus úis aon urrús a heiseofar faoin alt so agus na gcostas faoina raghfar i dtaobh na n-urrús san d'eisiúin.

[EN]

E bheith d'oblagáid ar scair-shealbhóirí (seachas an tAire Airgeadais scaireanna do shealbhú ar iontaobhas don Aire.

22.—(1) Is ar iontaobhas don Aire Airgeadais a shealbhós gach comhalta den Chuideachtain (agus suibscríobhaithe Mheamram Comhlachais na Cuideachtan d'áireamh ach gan an tAire Airgeadais d'áireamh) a scair sa Chuideachtain agus dá réir sin beidh de cheangal air na díbhinní, na bónais agus an t-airgead eile uile a gheobhaidh an comhalta san ar an scair sin nó ina leith d'íoc leis an Aire sin chun tairbhe don Stát-Chiste agus fós an scair sin d'aistriú, fé mar agus nuair a cheanglós an tAire san air, chun an Aire sin nó chun duine arna ainmniú ag an Aire sin chuige sin.

[EN]

(2) Chun go gcomhlíonfar a bhfuil sna hAchta Cuideachtan á fhoráil go mbeidh seacht gcomhalta ar a laghad sa Chuideachtain i gcomhnaí nó chun go mbeidh an cháilíocht is gá ag duine a ceapfar nó a bheas le ceapadh ina stiúrthóir ar an gCuideachtain, féadfaidh an tAire Airgeadais ceachtar ní nó an dá ní acu so leanas do dhéanamh ó am go ham fé mar is gá, sé sin le rá:—

[EN]

(a) ceann amháin de na scaireanna sa Chuideachtain a bheas ar seilbh ag an Aire sin de thuras na huaire d'aistriú chun duine ar bith;

[EN]

(b) a cheangal ar aon chomhalta den Chuideachtain aon scair a bheas ar seilbh aige d'aistriú chun an Aire sin nó chun duine ar bith eile.

[EN]

(3) Ach amháin mar a húdaraítear nó a ceangaltar le fo-alt (2) den alt so ní dhéanfaidh aon chomhalta den Chuideachtain (ar a n-áirítear an tAire Airgeadais) aon scaireanna sa Chuideachtain a bheas ar seilbh aige de thuras na huaire d'aistriú ná do choimhithiú.

[EN]

Díbhinní, etc., d'íoc isteach sa Stát-Chiste.

23.—Na díbhinní, na bónais agus an t-airgead eile uile a gheobhaidh an tAire Airgeadais i leith scaireanna sa Chuideachtain a bheas ar seilbh aige nó ar iontaobhas dó, déanfar iad d'íoc isteach sa Stát-Chiste nó do chur chun tairbhe don Stát-Chiste i pé slí ordóidh an tAire sin.

[EN]

Cumhacht na Cuideachtan chun airgead d'fháil ar iasacht.

24.—Féadfaidh an Chuideachta, le toiliú an Aire Airgeadais arna thabhairt tar éis dó dul i gcomhairle leis an Aire Talmhaíochta, airgead d'fháil ar iasacht ó am go ham óna bancaeraí, ach ní cead an méid iomlán a bheas faighte ar iasacht faoin alt so agus a bheas gan glanadh do dhul, tráth ar bith, thar pé méid acu so leanas is lú, sé sin le rá:—

[EN]

(a) céad míle punt;

[EN]

(b) an méid a bheas gan eisiúin de scair-chaipiteal údaraithe na Cuideachtan.

[EN]

E bheith d'oblagáid fuíoll-chláir, etc., do thabhairt don Aire Talmhaíochta.

25.—(1) Bhéarfaidh an Chuideachta don Aire Talmhaíochta laistigh de nócha lá tar éis deireadh gach bliana cuntasaíochta faoi leith—

[EN]

(a) fuíoll-chlár don bhliain chuntasaíochta san agus é iniúchta go cuibhe ag iniúchóir na Cuideachtan;

[EN]

(b) cuntas sochair agus dochair don bhliain chuntasaíochta san agus é iniúchta amhlaidh; agus

[EN]

(c) tuarascáil ar a himeachta ar feadh na bliana cuntasaíochta san.

[EN]

(2) Déanfar an fuíoll-chlár agus an cuntas sochair agus dochair a bheas le tabhairt mar adúradh do leagadh amach i pé slí ordóidh an tAire Talmhaíochta, tar éis dó dul i gcomhairle leis an Aire Airgeadais, agus beidh sa bhfuíoll-chlár san (i dteannta éinní is gá do réir an orduithe sin) coimre ar chaipiteal, sócmhainní agus fiachais na Cuideachtan maraon leis na sonnraí sin a léireos cineál na sócmhainní agus na bhfiachas san agus an tslí inar háiríodh luach na sócmhainní.

[EN]

(3) Déanfaidh an Chuideachta, ar an Aire Talmhaíochta dá iarraidh sin, pé mínithe do thabhairt don Aire sin a mheasfaidh sé is cuibhe agus is ceart d'iarraidh maidir le haon fhuíoll-chlár, cuntas sochair agus dochair nó tuarascáil a bheas tugtha dhó de bhun an ailt seo.

[EN]

(4) Déanfaidh an tAire Talmhaíochta cóip de gach fuíoll-chlár, cuntas sochair agus dochair agus tuarascáil a bhéarfar dó de bhun an ailt seo do leagadh faoi bhráid gach Tighe den Oireachtas a luaithe is féidir tar éis an fuíoll-chlár, an cuntas sochair agus dochair agus an tuarascáil sin do thabhairt dó amhlaidh.

[EN]

(5) Bhéarfaidh an Chuideachta don Aire Talmhaíochta pé eolas, maidir le beartas, gníomhachta agus cinnte na Cuideachtan, a iarrfaidh an tAire sin ó am go ham.

[EN]

(6) Má fhaillíonn an Chuideachta aon cheann nó cinn d'fhorála an ailt seo do chomhlíonadh, beidh an Chuideachta, maraon le gach stiúrthóir, bainisteoir agus oifigeach eile don Chuideachtain d'údaraigh nó do cheadaigh an fhaillí sin go feasach agus go toiliúil, ciontach i gcionta faoin alt so agus ar a gciontú ann ar an slí achomair dlífear fíneáil nach mó ná cúig puint do chur orthu in aghaidh gach lae a leanfas an fhaillí.

[EN]

(7) Féadfaidh an tAire Talmhaíochta nó féadfar ar agra an Aire Thalmhaíochta, mar chúisitheoir, cionta faoin alt so do chúiseamh.

[EN]

An Ciste Athsholáthair Stoic.

26.—(1) Cothabhálfaidh an Chuideachta ciste dá ngairmfear an Ciste Athsholáthair Stoic.

[EN]

(2) Íocfar isteach sa Chiste Athsholáthair Stoic an sochar glan as aon stoc folaíochta a dhéanfaidh an Chuideachta a cheannach as caipiteal agus a chur de láimh, an t-airgead uile a gheobhaidh an Chuideachta ó am go ham ar scór árachais ar stoc folaíochta a ceannófar amhlaidh, agus pé airgead a dháilfidh an Chuideachta ó am go ham don chiste sin as glan-ioncam barrachais.

[EN]

(3) An t-airgead a bheas i gcreidiúin don Chiste Athsholáthair Stoic úsáidfear é chun críocha caipitiúla faoi réir cheadú an Aire Thalmhaíochta arna thabhairt tar éis dó dul i gcomhairle leis an Aire Airgeadais agus ní chun aon chríche eile.

[EN]

An Chuideachta do thógaint tailimh.

27.—(1) Féadfaidh an Chuideachta, le toiliú an Aire Thalmhaíochta, ach ní ar aon tslí eile, talamh ar bith do thógaint trí chomhaontú nó ar léas nó ar cíos.

[EN]

(2) Sara dtuga an tAire Talmhaíochta toiliú faoin alt so rachaidh sé i gcomhairle leis an Aire Airgeadais.

[EN]

Tailte leis an gCuideachtain do dhíol, etc.

28.—(1) Féadfaidh an Chuideachta, le toiliú an Aire Thalmhaíochta, ach ní ar aon tslí eile, tailte ar bith leis an gCuideachtain do dhíol, do chur ar léas nó do ligean.

[EN]

(2) Sara dtuga an tAire Talmhaíochta toiliú faoin alt so rachaidh sé i gcomhairle leis an Aire Airgeadais.

[EN]

Forála maidir leis an gCuideachtain d'fhoirceannadh.

29.—I gcás an Chuideachta d'fhoirceannadh, déanfar an t-airgead uile a bheas fágtha, tar éis fiacha na Cuideachtan d'íoc agus an caipiteal a bheas suibscríofa ag scair-shealbhóirí d'aisíoc, d'íoc isteach sa Stát-Chiste nó do chur chun tairbhe don Stát-Chiste i pé slí a ordóidh an tAire Airgeadais.

[EN]

Scéimeanna speisialta chun síolrú capall folaíochta d'fheabhsú.

30.—(1) Féadfaidh an Chuideachta, le ceadú an Aire Thalmhaíochta, arna thabhairt tar éis dó dul i gcomhairle leis an Aire Airgeadais, scéimeanna speisialta do chur i ngníomh chun síolrú capall folaíochta d'fheabhsú.

[EN]

(2) Féadfaidh an tAire Talmhaíochta, le toiliú an Aire Airgeadais, pé suimeanna d'íoc leis an gCuideachtain ó am go ham, as airgead arna sholáthar ag an Oireachtas, a mheasfaidh an tAire Talmhaíochta is ceart d'íoc mar chabhair chun costas oibrithe scéimeanna faoi fho-alt (1) den alt so do ghlanadh.

[EN]

(3) Na suimeanna uile a híocfar leis an gCuideachtain faoi fho-alt (2) den alt so, is ar ghlanadh costas faoina raghfar maidir le hoibriú scéimeanna faoi fho-alt (1) den alt so agus air sin amháin a caithfear iad.

CUID IV.

Airneis Airithe leis an Stat d'Aistriu chun na Cuideachtan.

[EN]

Airnéis ar an nGroighealach Náisiúnta d'aistriú chun na Cuideachtan.

31.—Gach uile áirnéis leis an Stát a bheas ar an nGroighealach Náisiúnta ar dháta an aistrithe, tiocfaidh sí chun bheith agus beidh, ar dháta an aistrithe, ina maoin leis an gCuideachtain de bhuaidh an ailt seo.

[GA]

harp.jpg


Number 31 of 1945.


[GA]

NATIONAL STUD ACT, 1945.


ARRANGEMENT OF SECTIONS

PART I.

Preliminary and General.

Section

1.

Short title.

2.

Definitions generally.

3.

The National Stud Farm.

4.

The transfer date.

5.

Exemption from stamp duties.

PART II.

Vesting of the National Stud Farm In the Minister for Agriculture and Power of the said Minister to Make Leases and Grant Licences of the National Stud Farm.

6.

Vesting of the National Stud Farm in the Minister for Agriculture.

7.

Leases of the National Stud Farm.

8.

Licences of the National Stud Farm.

9.

Cesser of application of State Lands Act, 1924, to the National Stud Farm.

PART III.

Cólucht Groighe Náisiúnta na hEireann, Teoranta. (the Irish National Stud Company, Limited.)

10.

Formation and registration of the Company.

11.

Name and capital of the Company.

12.

Memorandum of Association of the Company.

13.

The Articles of Association of the Company.

14.

Alteration of Memorandum or Articles of Association.

15.

Loan to Company to pay expenses of formation.

16.

Issue of share capital of the Company.

17.

Restrictions on issue of share capital of the Company.

18.

Issue of shares to Minister for Finance in consideration of transfer of chattels.

19.

Power of Minister to acquire shares by subscription.

20.

Powers of Minister for Finance as shareholder.

21.

Advance of moneys out of Central Fund.

22.

Obligation of shareholders (other than Minister for Finance) to hold shares in trust for Minister.

23.

Payment of dividends, etc., into the Exchequer.

24.

Power of Company to borrow.

25.

Obligation to furnish balance sheets, etc.

26.

Stock Replacement Fund.

27.

Acquisition of land by the Company.

28.

Sale, etc., of lands of the Company.

29.

Provisions in relation to the winding-up of the Company.

30.

Special schemes for the improvement of thoroughbred horse breeding.

PART IV.

Transfer of Certain State Chattels to the Company.

31.

Transfer of chattels on the National Stud Farm to the Company.


Acts Referred to

Minerals Development Act, 1940

No. 31 of 1940

State Lands Act, 1924

No. 45 of 1924

harp.jpg


Number 31 of 1945.


NATIONAL STUD ACT, 1945.


AN ACT TO VEST THE STATE LANDS SITUATE AT TULLY IN THE COUNTY OF KILDARE AND KNOWN AS THE NATIONAL STUD FARM IN THE MINISTER FOR AGRICULTURE, TO AUTHORISE THE SAID MINISTER TO MAKE LEASES AND GRANT LICENCES OF THE NATIONAL STUD FARM, TO MAKE PROVISION FOR THE PROMOTION BY THE SAID MINISTER OF A LIMITED COMPANY FOR THE CARRYING ON OF THE BUSINESS OF STUD FARMING AT THE NATIONAL STUD FARM, TO TRANSFER TO THE SAID COMPANY CERTAIN CHATTELS BELONGING TO THE STATE, AND TO MAKE PROVISION FOR CERTAIN OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [4th August, 1945.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— [GA][GA]

PART I.

Preliminary and General.

[GA]

Short title.

1.—This Act may be cited as the National Stud Act, 1945.

[GA]

Definitions generally.

2.—In this Act—

[GA]

the word “chattels” includes live stock;

[GA]

the expression “the Companies Acts” means the Companies Acts, 1908 to 1924;

[GA]

the expression “the Company” means Cólucht Groighe Náisiúnta na hEireann, Teoranta (the Irish National Stud Company, Limited);

[GA]

the expression “the transfer date” means the date appointed to be the transfer date by order of the Minister for Finance under section 4 of this Act.

[GA]

The National Stud Farm.

3.—(1) In this Act, the expression “the National Stud Farm” means the lands belonging to the State commonly called and known as the National Stud Farm, and comprising parts of the lands of Tully East, Tully West, Curraghfarm and Kildare, all situate in the Barony of Offaly East and County of Kildare, together with all rights of turbary and grazing and other rights whatsoever appertaining or reputed to appertain to the said lands.

[GA]

(2) A certificate under the official seal of the Minister for Agriculture certifying that any specified land forms part of the National Stud Farm shall be prima facie evidence of the fact so certified.

[GA]

The transfer date.

4.—The Minister for Finance shall, as soon as conveniently may be after the registration of the Company, appoint a date to be the transfer date for the purposes of this Act.

[GA]

Exemption from stamp duties.

5.—(1) Section 12 of the Finance Act, 1895, shall not operate so as to require the Company to deliver to the Revenue Commissioners a copy of this Act or to pay any stamp duty under that section on any copy of this Act.

[GA]

(2) Section 112 of the Stamp Act, 1891, shall not operate so as to require the Company to deliver to the registrar of companies any statement or to pay any stamp duty under that section in respect of the share capital of the Company.

[GA]

(3) No stamp duty shall be payable on any transfer of shares of the Company.

[GA]

(4) An instrument made under section 7 or section 8 of this Act and sealed with the official seal of the Minister for Agriculture shall not, by reason only of such seal being affixed thereto, be rendered liable to any higher stamp duty than if it were an instrument under hand only.

[GA][GA]

PART II.

Vesting of the National Stud Farm in the Minister for Agriculture and Power of the said Minister to Make Leases and Grant Licences of the National Stud Farm.

[GA]

Vesting of the National Stud Farm in the Minister for Agriculture.

6.—(1) On the passing of this Act the National Stud Farm shall, by virtue of this section and without any conveyance or assignment, vest in the Minister for Agriculture for all the estate or interest which immediately before the passing of this Act belonged to the State therein.

[GA]

(2) Where any person is registered under the Registration of Title Act, 1891, as the owner of an estate or interest in any land which, by virtue of subsection (1) of this section, vests in the Minister for Agriculture, the registering authority under the said Act shall, upon production of a certificate under the official seal of the said Minister certifying that such land has, by virtue of subsection (1) of this section, vested in him, substitute the name of the said Minister for that of such person.

[GA]

Leases of the National Stud Farm.

7.—(1) Subject to this section, the Minister for Agriculture may, with the consent of the Minister for Finance, make leases of the National Stud Farm or any part thereof for any term.

[GA]

(2) The following provisions shall apply in relation to every lease made under subsection (1) of this section—

[GA]

(a) the lease shall, unless the Minister for Agriculture is of opinion that it should in the public interest be made free of any payment, be made subject to the payment to the said Minister of such moneys, whether by way of fine or other preliminary payment or by way of rent or by both such ways, as the said Minister shall think proper and agree upon with the proposed lessee;

[GA]

(b) the lease shall contain—

[GA]

(i) such covenants, conditions and agreements as the said Minister shall think proper or desirable in the public interest and shall agree upon with the proposed lessee,

[GA]

(ii) a proviso for re-entry on the breach, non-performance or non-observance by the lessee of any covenant, condition or agreement contained in the lease;

[GA]

(c) the lease shall not include or extend to any minerals or mining rights which are State minerals for the purposes of the Minerals Development Act, 1940 (No. 31 of 1940), but may include or extend to any one or more of the following, namely, sand, gravel, stone and clay, being not more than twenty feet below the surface.

[GA]

(3) Where the Minister for Agriculture proposes to make under subsection (1) of this section a lease for any term exceeding five years, he shall lay before each House of the Oireachtas a statement showing particulars of the land proposed to be included in the lease, the name of the proposed lessee, the fine or other preliminary payment (if any) and the rent (if any) proposed to be charged and the covenants, conditions and agreements proposed to be inserted in the lease.

[GA]

(4) No lease for any term exceeding five years shall be made under subsection (1) of this section until either—

[GA]

(a) each House of the Oireachtas has by resolution authorised the making of the lease with or without modification of the proposed provisions of the lease, or

[GA]

(b) the expiration of whichever of the following periods is the longer, that is to say—

[GA]

(i) twelve days after the first day on which either House of the Oireachtas sits next after the appropriate statement mentioned in subsection (3) of this section is laid before the Houses of the Oireachtas,

[GA]

(ii) six days on which either House of the Oireachtas sits next after the said statement shall have been so laid before the Houses.

[GA]

(5) Where a resolution of either House of the Oireachtas authorises the making of a lease under subsection (1) of this section subject to any modification of the proposed provisions of the lease, the lease shall not be made save with and subject to such modification.

[GA]

Licences of the National Stud Farm.

8.—(1) The Minister for Agriculture may, with the consent of the Minister for Finance, grant to any person, on such terms and conditions as the Minister for Agriculture thinks proper, a licence to use and occupy the National Stud Farm or any part thereof during any specified period, either generally or in a particular manner or for a particular purpose.

[GA]

(2) A licence granted under subsection (1) of this section to use and occupy any part of the National Stud Farm which is held by the Minister for Agriculture as a tenancy from year to year shall not be deemed a sub-letting of that part for the purposes of the Land Law (Ireland) Act, 1881.

[GA]

Cesser of application of State Lands Act, 1924, to the National Stud Farm.

9.—The State Lands Act, 1924 (No. 45 of 1924), shall cease to apply to the National Stud Farm.

[GA][GA]

PART III.

Cólucht Groighe Náisiúnta Na hEireann, Teoranta. (the Irish National Stud Company, Limited.)

[GA]

Formation and registration of the Company.

10.—As soon as may be after the passing of this Act, the Minister for Agriculture 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 conforming to the conditions laid down in this Act shall be formed and registered under the Companies Acts.

[GA]

Name and capital of the Company.

11.—(1) The name of the Company shall be Cólucht Groighe Náisiúnta na hEireann, Teoranta (The Irish National Stud Company, Limited.)

[GA]

(2) The share capital of the Company shall be two hundred and fifty thousand pounds divided into 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.

[GA]

Memorandum of Association of the Company.

12.—(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 for Agriculture, after consultation with the Minister for Finance.

[GA]

(2) The objects of the Company shall be so stated in the Memorandum of Association that the principal objects of the Company shall be—

[GA]

(a) to take such leases or licences of the National Stud Farm or any part thereof as the Minister for Agriculture may from time to time make or grant to the Company;

[GA]

(b) to carry on the business of stud farming on any land which is the subject of any such lease or licence and on any other land held by the Company.

[GA]

The Articles of Association of the Company.

13.—(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 for Agriculture after consultation with the Minister for Finance.

[GA]

(2) The following provisions shall apply in respect of the Articles of Association of the Company, that is to say—

[GA]

(a) the said Articles shall provide that the number of directors (including the chairman) shall not be less than three or more than five;

[GA]

(b) the said Articles shall provide that the qualification for a director of the Company, shall be the holding of at least one share of the Company;

[GA]

(c) the said Articles shall provide that the chairman and all the other directors of the Company shall always be appointed by, and may be removed from office by, the Minister for Finance, after consultation with the Minister for Agriculture;

[GA]

(d) the said Articles shall provide that the remuneration of the chairman and of the other directors shall be determined from time to time by the Minister for Finance, after consultation with the Minister for Agriculture;

[GA]

(e) the said Articles shall provide that no person shall be nominated as Auditor of the Company without the approval of the Minister for Finance given after consultation with the Minister for Agriculture;

[GA]

(f) 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 or, save in accordance with this Act, to borrow.

[GA]

Alteration of Memorandum or Articles of Association.

14.—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 effective unless made with the previous approval of the Minister for Agriculture given after consultation with the Minister for Finance.

[GA]

Loan to Company to pay expenses of formation.

15.—(1) The Minister for Agriculture 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.

[GA]

(2) Any moneys 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 purposes.

[GA]

(3) All sums paid to the Minister for Agriculture by the Company in or towards repayment of any moneys lent to the Company under this section or in payment of the interest on such moneys shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct.

[GA]

Issue of share capital of the Company.

16.—(1) 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 share capital of the Company shall, subject to the provisions of this Act, be allotted and issued to the Minister for Finance.

[GA]

(2) The money payable by the subscribers to the Memorandum of Association of the Company as consideration for the allotment and issue to them of shares in the share capital of the Company in pursuance of subsection (1) of this section shall be advanced out of the Central Fund or the growing produce thereof.

[GA]

Restrictions on issue of share capital of the Company.

17.—No issue of the share capital of the Company (other than share capital issued to subscribers to the Memorandum of Association of the Company or shares required by section 18 of this Act to be issued by the Company to the Minister for Finance) shall be made at any time unless the Minister for Finance, after consultation with the Minister for Agriculture, has authorised such issue.

[GA]

Issue of shares to Minister for Finance in consideration of transfer of chattels.

18.—For the purpose of fixing and securing payment to the State of an amount to be paid by the Company as the consideration for the transfer (which will by the operation of section 31 of this Act take effect on the transfer date) to the Company of the chattels belonging to the State which are on the National Stud Farm on the transfer date, the following provisions shall have effect, that is to say:—

[GA]

(a) the Minister for Finance shall, as soon as may be after the transfer date, issue a certificate in writing certifying the sum which in his opinion should be paid by the Company as the consideration for such transfer;

[GA]

(b) the Company shall, at the request of the Minister for Finance made at any time after the issue of the said certificate, issue to the Minister for Finance without payment by him fully paid up ordinary shares of the Company equal (in nominal value) to the sum so certified.

[GA]

Power of Minister to acquire shares by subscription.

19.—The Minister for Finance may from time to time take up by subscription any shares of the Company.

[GA]

Powers of Minister for Finance as shareholder.

20.—The Minister for Finance may, in respect of the shares of the Company for the time being held by him, exercise, subject to this Act, 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.

[GA]

Advance of moneys out of Central Fund.

21.—(1) All moneys from time to time required by the Minister for Finance to meet payments required to be made by him in respect of any shares subscribed for by him under this Act shall be advanced out of the Central Fund or the growing produce thereof.

[GA]

(2) For the purpose of providing money for the sums advanced out of the Central Fund under this section, the Minister for Finance may borrow from any person any sum or sums, and for the purpose of such borrowing the said Minister may create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as he shall think fit, and shall pay the moneys so borrowed into the Exchequer.

[GA]

(3) The principal of and interest on any securities issued under this section and the expenses incurred in connection with the issue of such securities shall be charged on the Central Fund or the growing produce thereof.

[GA]

Obligation of shareholders (other than Minister for Finance) to hold shares in trust for Minister.

22.—(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 share 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 share to the said Minister for the benefit of the Exchequer and to transfer, as and when required by the said Minister, such share to the said Minister or a person nominated in that behalf by the said Minister.

[GA]

(2) The Minister for Finance may, 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 about to be appointed a director of the Company with the necessary qualification, do either or both of the following things, that is to say:—

[GA]

(a) transfer to any person one share in the Company for the time being held by the said Minister;

[GA]

(b) require any member of the Company to transfer any share held by him to the said Minister or any other person.

[GA]

(3) Save as authorised or required by subsection (2) of this section no member of the Company (including the Minister for Finance) shall transfer or alienate any shares in the Company for the time being held by him.

[GA]

Payment of dividends, etc., into the Exchequer.

23.—All dividends, bonus and other moneys 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.

[GA]

Power of Company to borrow.

24.—The Company, with the consent of the Minister for Finance, given after consultation with the Minister for Agriculture, may from time to time borrow moneys from its bankers, but the total amount borrowed under this section and outstanding shall not at any time exceed the lesser of the two following amounts, that is to say:—

[GA]

(a) one hundred thousand pounds;

[GA]

(b) the amount of the authorised share capital of the Company which is unissued.

[GA]

Obligation to furnish balance sheets, etc.

25.—(1) The Company shall within ninety days after the end of every accounting year furnish to the Minister for Agriculture—

[GA]

(a) a balance sheet for such accounting year duly audited by the auditor of the Company;

[GA]

(b) a profit and loss account for such accounting year similarly audited; and

[GA]

(c) a report of its proceedings during such accounting year.

[GA]

(2) The balance sheet and profit and loss account to be furnished as aforesaid shall be drawn up in such manner as the Minister for Agriculture, after consultation with the Minister for Finance, may 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.

[GA]

(3) The Company shall on demand furnish to the Minister for Agriculture such explanations as the said Minister shall think fit and proper to require in respect of any balance sheet, profit and loss account or report furnished pursuant to this section.

[GA]

(4) A copy of every balance sheet, profit and loss account and report furnished to the Minister for Agriculture pursuant to 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.

[GA]

(5) The Company shall furnish to the Minister for Agriculture such information, in relation to the policy, activities and decisions of the Company, as the said Minister may from time to time require.

[GA]

(6) 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.

[GA]

(7) An offence under this section may be prosecuted by or at the suit of the Minister for Agriculture as prosecutor.

[GA]

Stock Replacement Fund.

26.—(1) The Company shall maintain a fund to be known as the Stock Replacement Fund.

[GA]

(2) There shall be paid into the Stock Replacement Fund the net proceeds of any bloodstock purchased out of capital and disposed of by the Company, all moneys received from time to time by the Company on foot of insurance of bloodstock so purchased, and such moneys as the Company may from time to time allocate to the said fund out of surplus net revenue.

[GA]

(3) The moneys standing to the credit of the Stock Replacement Fund shall be applied for capital purposes subject to the approval of the Minister for Agriculture given after consultation with the Minister for Finance and for no other purpose.

[GA]

Acquisition of land by the Company.

27.—(1) The Company, with the consent of the Minister for Agriculture, but not otherwise, may acquire by agreement or take on lease or a letting any land.

[GA]

(2) Before giving any consent under this section the Minister for Agriculture shall first consult the Minister for Finance.

[GA]

Sale, etc., of lands of the Company.

28.—(1) The Company, with the consent of the Minister for Agriculture, but not otherwise, may sell, lease or let any lands of the Company.

[GA]

(2) Before giving any consent under this section the Minister for Agriculture shall first consult the Minister for Finance.

[GA]

Provisions in relation to the winding-up of the Company.

29.—In the event of the Company being wound, up, all moneys remaining, after the debts of the Company have been paid and the capital subscribed by shareholders has been repaid, shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct.

[GA]

Special schemes for the improvement of thoroughbred horse breeding.

30.—(1) The Company may, with the approval of the Minister for Agriculture, given after consultation with the Minister for Finance, put into operation special schemes for the improvement of thoroughbred horse breeding.

[GA]

(2) The Minister for Agriculture may, with the consent of the Minister for Finance, pay to the Company from time to time, out of moneys provided by the Oireachtas, such sums as the Minister for Agriculture shall think proper towards defraying the cost of the operation of schemes under subsection (1) of this section.

[GA]

(3) All sums paid to the Company under subsection (2) of this section shall be expended by the Company exclusively in defraying expenses incurred in connection with the operation of schemes under subsection (1) of this section.

[GA][GA]

PART IV.

Transfer of Certain State Chattels to the Company.

[GA]

Transfer of chattels on the National Stud Farm to the Company.

31.—All chattels whatsoever belonging to the State which are on the National Stud Farm on the transfer date shall, on the transfer date, become and be, by virtue of this section, the property of the Company.