Dublin Port and Docks Act, 1940

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Number 4 (Private) of 1940.

DUBLIN PORT AND DOCKS ACT, 1940.

ARRANGEMENT OF SECTIONS

Number 4 (Private) of 1940.

DUBLIN PORT AND DOCKS ACT, 1940.

AN ACT TO ALTER CERTAIN EXISTING POWERS OF THE DUBLIN PORT AND DOCKS BOARD FOR THE BORROWING OF MONEY, AND FOR OTHER PURPOSES. [3rd July, 1940.]

Preamble

WHEREAS the Port and Harbour of Dublin are under the control and management of the Dublin Port and Docks Board (hereinafter referred to as “the Board”) and by various British Statutes and Acts of the Oireachtas powers have been conferred upon the Board;

AND WHEREAS by the Dublin Port and Docks Act, 1869 (hereinafter referred to as “the Act of 1869”) provision was made for the creation of a general fund (hereinafter referred to as “the Port Fund”) for the purposes of the Port to be applied to the maintenance and improvement of the Port and all money belonging or payable to the Board (other than borrowed money) was directed to be carried to the credit of the Port Fund;

AND WHEREAS by the Dublin Port and Docks Act, 1902 (hereinafter referred to as “the Act of 1902”) certain other moneys payable to or receivable by the Board were directed to be carried to the credit of the Port Fund;

AND WHEREAS under the provisions of the Act of 1869 and the Act of 1902 the Port Fund is applicable (inter alia) to the payment of interest on borrowed moneys and dividends on stock issued by the Board and to contributions to sinking funds and loans funds;

AND WHEREAS by the Act of 1902 the Board were empowered to borrow at interest on the security of the Port Fund any sums not exceeding in the whole six hundred and fifty thousand pounds which sums were to be applied to the extent of the respective amounts and for the respective purposes specified in that Act including the sum of two hundred and nine thousand pounds for the construction of a Graving Dock;

AND WHEREAS by the Dublin Port and Docks Act, 1920 (hereinafter referred to as “the Act of 1920”) the Board were empowered to borrow at interest on the security of the Port Fund for certain specified purposes any sum or sums not exceeding the sums specified with reference to those purposes respectively which purposes and sums include the following:—

the construction of a Dry Dock or pontoon one hundred and forty-one thousand pounds;

the reconstruction of the Custom House Quay one hundred thousand pounds; and

the improvement of the Custom House Docks four hundred and twenty thousand pounds;

AND WHEREAS the Board have not constructed or executed and owing to altered conditions do not now require to construct or execute the said Graving Dock referred to in the Act of 1902 or the Dry Dock or pontoon and the improvement of the Custom House Docks referred to in the Act of 1920 and the sum allocated as aforesaid to the reconstruction of the Custom House Quay is insufficient for that purpose;

AND WHEREAS it is expedient that the borrowing powers conferred upon the Board by the Act of 1902 and the Act of 1920 should to the extent of the sums allocated to the purposes mentioned in the last preceding recital (amounting in the whole to eight hundred and seventy thousand pounds) be made available for the several purposes and to the extent of the several amounts specified in this Act;

AND WHEREAS it is expedient that the provisions contained in this Act with respect to officers of the Board and to the payment by the Board of certain expenses should be enacted;

AND WHEREAS it is expedient that such other provisions as are contained in this Act should be enacted;

AND WHEREAS the purposes of this Act cannot be effected without the authority of the Oireachtas;

BE IT THEREFORE ENACTED BY THE OIREACHTAS AS FOLLOWS:—