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Increase of limit on guarantees by Minister for Finance of borrowing by Aerlinte.
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2.—The Minister for Finance shall not so exercise the powers conferred by section 5 (1) (which provides for the guarantee by the Minister for Finance of borrowings by Aer Lingus, Teoranta, and Aerlinte) of the Act of 1966 and section 4 (2) (which provides for the making of advances to Aerlinte by the Minister for Finance) of the Act of 1966 that advances to Aerlinte under the latter subsection together with the amount, or the aggregate amount, of principal which he may at any one time be liable to pay in respect of any guarantees under the said section 5 (1) for the time being in force in relation to moneys borrowed by Aerlinte together with the amount of principal (if any) which the Minister for Finance has previously paid in respect of any such guarantees and has not been repaid by that company exceeds eighteen million pounds and accordingly section 5 (3) of the Act of 1966 is hereby amended by the substitution of “eighteen” for “six”.
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