Industrial Development (Encouragement of External Investment) Act, 1958
|
Certificates of exemption. |
6.—(1) Where, in respect of any Irish company which is managed and controlled in the State and which carries on or intends to carry on a particular manufacturing process relating to a particular commodity, the Minister is satisfied that a main object of such company in doing so or intending to do so is to develop export trade, the Minister, on the application of such company, may, for the purpose of exempting it, in respect of the carrying on of such manufacturing process, from the operation of section 9 of the Act of 1934, as amended by section 5 of this Act, issue to it a certificate (in this Act referred to as a certificate of exemption) authorising it to carry on such manufacturing process. | |
(2) Where, in respect of an Irish company whose shares have been quoted on a Stock Exchange in the State for a period of not less than five years, the Minister is of opinion that the company is carrying on or proposes to carry on a particular manufacturing process relating to a particular commodity and that the purpose of the company, in doing so or intending to do so, is to develop an export trade, the Minister, on the application of such company, may, for the purpose of exempting it, in respect of the carrying on of such manufacturing process, from the operation of section 9 of the Act of 1934, as amended by section 5 of this Act, issue to it a certificate (in this Act referred to also as a certificate of exemption) authorising it to carry on such manufacturing process. | ||
(3) Where the Minister grants under subsection (1) or (2) of this section a certificate of exemption to a company which proposes to carry on a particular manufacturing process relating to a particular commodity, such certificate shall be granted subject to the condition that such company shall before the expiration of such period, as the Minister thinks proper and specifies in such certificate, commence to carry on such manufacturing process. | ||
(4) A certificate of exemption may relate to more than one manufacturing process and to more than one commodity. | ||
(5) The Minister may at any time alter or revoke a certificate of exemption upon the application of the holder thereof, but not otherwise. | ||
(6) Where a certificate of exemption authorises a company to carry on a particular manufacturing process relating to a particular commodity, and the ownership of business of that company, in so far as it relates to such manufacturing process, is transferred to another company, such other company may apply to the Minister to transfer such certificate to it, and thereupon the Minister shall, if he is of opinion that such transfer will result in the maintenance or development of the export trade in relation to that commodity, transfer such certificate accordingly, but if not of that opinion shall refuse to grant such application. | ||
(7) A certificate of exemption authorising a company to carry on a particular manufacturing process relating to a particular commodity shall cease to be in force— | ||
(a) if such company ceases to carry on such manufacturing process—on the date of such cesser, or | ||
(b) if such certificate is revoked under subsection (5) of this section—on the date of such revocation, | ||
(c) if, on any application being made for the transfer of such certificate, under subsection (6) of this section, such application is refused—on the date of such refusal, | ||
(d) if such certificate was, in accordance with subsection (3) of this section, granted subject to the condition that such company shall commence, before the expiration of a specified period, to carry on such manufacturing process and such company has failed to comply with such condition—on the expiration of such period. | ||
(8) (a) The Minister shall establish and maintain a register (in this subsection referred to as the register) of certificates of exemption granted under this section. | ||
(b) There shall be entered in the register, in respect of each certificate of exemption granted, the following particulars— | ||
(i) the name of the company to which such certificate was issued, | ||
(ii) the commodity to which such certificate relates, | ||
(iii) the manufacturing process authorised by such certificate to be carried on. | ||
(c) The register shall be kept at the office of the Minister in Dublin and shall be there open to inspection by any interested person, on payment of one shilling, at such times as the Minister may direct. |