S.I. No. 86/1948 - Subsidy (Aer-Rianta, Teoranta) (No. 1) Order, 1948.

S.I. No. 86 of 1948.

SUBSIDY (AER-RIANTA, TEORANTA) (No. 1) ORDER, 1948.

The Minister for Finance, in exercise of the powers conferred on him by the Air Navigation and Transport Acts, 1936 to 1946, hereby orders as follows : —

1. This Order may be cited as the Subsidy (Aer-Rianta, Teoranta) (No. 1) Order, 1948.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this Order.

3. In this Order—

the expression " the Company " means Aer-Rianta, Teoranta ;

the expression " the subsidiary Companies " means Aer Lingus, Teoranta, and Aerlínte Éireann, Teoranta ;

the expression " the year 1947-48 " means the year ending on the 31st day of March, 1948.

4. (1) The Minister for Industry and Commerce is hereby authorised to pay to the Company (in addition to the subsidies amounting to four hundred and fifty-one thousand, three hundred and fifty pounds, heretofore authorised) a subsidy (in this Order referred to as the subsidy) equal to the lesser of the following—

(a) two hundred and ninety-eight thousand six hundred and fifty pounds ;

(b) the sum which the Minister for Finance and the Minister for Industry and Commerce estimate will be the losses sustained by the Company and the subsidiary Companies in the year 1947-48, less the sum of one hundred and sixty thousand pounds payable under the Subsidy (Aer-Rianta Teoranta) (No. 2) Order, 1947.

(2) The subsidy shall be paid to the Company before the 1st day of April, 1948, at such times and in such instalments as the Minister for Industry and Commerce, after consultation with the Minister for Finance, thinks proper.

5. For the purposes of this Order—

(a) the losses sustained by the Company or the subsidiary Companies in the year 1947-48 shall be the losses so sustained in any activities in connection with aviation (other than the management by the Company of the Dublin Airport on behalf of the Minister for Industry andCommerce) undertaken by the relevant Company in accordance with the policy from time to time approved by the Minister for Industry and Commerce ;

(b) actual losses shall as far as possible be ascertained by reference to the accounts of the relevant company as audited under section 81 of the Air Navigation and Transport Act, 1936 ;

(c) the determination by the Minister for Finance and the Minister for Industry and Commerce of the amount of the actual losses of the Company and the Subsidiary Companies shall be final.

6. If the actual losses of the Company and the Subsidiary Companies in the year 1947-48, as so determined, are less than the subsidy, the Company shall repay the difference to the Minister for Industry and Commerce before the 1st September, 1948.

7. The Company shall supply to the Minister for Industry and Commerce, on being so requested, such information as the said Minister may require for the purposes of this Order.

GIVEN under the Official Seal of the Minister for Finance, this 15th day of March, 1948.

J. J. McELLIGOTT.