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Contents and operation of mining business acquisition orders.
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21.—The following provisions shall apply and have effect in relation to every mining business acquisition order- that is to say:—
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(a) the order shall specify the name of the existing mining business acquired thereby and the name of the person appearing to the Minister to be the proprietor of that business;
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(b) the order shall specify the nature, situation and extent of the minerals (in this Act referred to as the acquired minerals) acquired by the order;
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(c) if the acquired minerals are (in whole or in part) State minerals worked by the proprietor of the said business under a lease from the Minister, the order shall, as respects those State minerals, be expressed and operate to vest in the State the lessee's interest under such lease and to merge the said lease in the reversion expectant thereon;
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(d) if the acquired minerals are (in whole or in part) State minerals worked by the proprietor of the said business under a licence from the Minister, the order shall, as respects those State minerals, be expressed and operate to terminate such licence;
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(e) if the acquired minerals are (in whole or in part) not State minerals, the order shall, as respects those minerals, have the same operation in all respects as a minerals acquisition order under the Act of 1940, and shall accordingly be expressed and shall operate to vest the said minerals in fee simple in the Minister, and those minerals shall, when so vested, become and be for all purposes State acquired minerals within the meaning of the Act of 1940 and the provisions of that Act in relation to State acquired minerals shall, so far as they are applicable, apply accordingly;
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(f) the order shall also be expressed and shall operate to transfer to and vest in the Company, free from all charges and encumbrances, the goodwill of the existing mining business acquired thereby and all the property and assets (other than the acquired minerals) which on the relevant date were owned or used by the proprietor of the said business for the purposes thereof, and also all book debts and other moneys owing to the said proprietor on account of the said business and the right to sue for, recover and give good receipts for those debts and moneys;
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(g) the expression “the relevant date” in the next preceding paragraph of this section shall, where the order is made within four months after the date of the passing of this Act, mean the 1st day of March, 1941, and shall, in every other case, mean the date on which notice of the proposal to acquire the said business was published in the Iris Oifigiúil in pursuance of this Act;
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(h) the order shall not be expressed and shall not operate to impose on or transfer to the Minister or the Company any liability for any of the debts and other liabilities of the proprietor of the existing mining business in relation to or on account of the said business;
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(i) the order may contain all or any such supplemental or ancillary provisions as the Minister, with the consent of the Minister for Finance, shall think proper.
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