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Manufacture of electrical apparatus, etc., by the Board.
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31.—(1) Whenever the Minister is of opinion that the then existing or the probable future requirements in the State in respect of any particular class of apparatus, machinery, or equipment for the generation, transmission, distribution, or use of electricity are not being and are not likely to be met sufficiently and efficiently by businesses then lawfully established in the State, the Minister, if he so thinks proper, may, subject to the provisions of this section, authorise the Board to manufacture or arrange for the manufacture of that particular class of such apparatus, machinery, or equipment in accordance with this section.
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(2) The following provisions shall apply and have effect in relation to the giving by the Minister to the Board of any such authorisation as is mentioned in the foregoing subsection of this section, that is to say:—
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(a) before giving any such authorisation the Minister shall cause notice of his intention to give such authorisation to be published in the Iris Oifigi[html]il and in such other manner as shall appear to the Minister to be calculated to bring his said intention to the knowledge of persons concerned;
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(b) every such notice shall state the class of apparatus, machinery, or equipment to which such authorisation is intended to apply and that any person may within a specified time (not being less than thirty days after the publication of such notice in the Iris Oifigi[html]il) send to the Minister in a specified manner an objection (with the grounds therefor) to the giving of such authorisation;
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(c) the Minister shall consider every such objection so sent to him within the said specified time;
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(d) after the expiration of the said specified time, the Minister may, if he so thinks proper having regard to such objections (if any), give such authorisation either in accordance with his said intention or in such modified form as he shall think proper having regard as aforesaid;
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(e) the Minister may attach to any such authorisation such (if any) conditions and restrictions as he shall think proper.
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(3) When the Minister has given to the Board an authorisation under this section, the Board may, in accordance with the terms of such authorisation, themselves manufacture and sell the apparatus, machinery, or equipment specified in such authorisation or may arrange for the manufacture and sale thereof by other persons.
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(4) Where the Board arranges under this section for the manufacture and sale of apparatus, machinery, or equipment by other persons, the Board, after consultation with the Minister for Finance, may, with the consent of the Minister and subject to such (if any) conditions as he may impose, do all or any of the following things, that is to say:—
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(a) promote, either alone or in conjunction with other persons, a limited company (complying with the subsequent provisions of this section) for such manufacture and sale, or
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(b) acquire, in whole or in part, any undertaking engaged in such manufacture and sale, or
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(c) assist by way of investment, loan, advance, or guarantee any person engaged in such manufacture and sale.
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(5) The following provisions shall apply and have effect in relation to every limited company promoted by the Board (either alone or in conjunction with other persons) under this section, that is to say:—
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(a) the memorandum and articles of association of such company shall be subject to the approval of the Minister given after consultation with the Minister for Finance;
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(b) the said articles of association shall provide that the Board shall be entitled to appoint, from amongst the members and officers of the Board, at least one director of such company;
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(c) the accounts of such company shall be submitted annually to the Minister and shall be audited (at the expense of such company) by an auditor approved of by the Minister;
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(d) such company shall furnish to the Minister such information in regard to its business as the Minister may from time to time require.
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(6) The Board shall be entitled, for the purposes of its functions under this section, to acquire and hold patents and trade marks and to expend moneys on preliminary investigations.
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(7) Where the Board itself manufactures and sells apparatus, machinery, or equipment under this section, the Board shall keep separate accounts in respect of such manufacture and sale and shall submit such accounts (when audited) to the Minister together with such other information in respect of such manufacture and sale as the Minister may require.
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