Postal and Telecommunications Services Act, 1983
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Provision of working capital for each company. |
31.—(1) The Minister for Finance shall make available as working capital— | |
(a) to the postal company, an amount not exceeding £10,000,000, and | ||
(b) to the telecommunications company, an amount not exceeding £150,000,000. | ||
(2) Liabilities of the Minister and the companies under sections 85 , 93 and 101 may, subject to the approval of the Minister and the Minister for Finance, be discharged by due account being taken of them, along with other properly reckonable amounts, in the calculation of the working capital to be made available to the companies under subsection (1). | ||
(3) Each company shall issue to the Minister shares to the value of the working capital made available to it under subsection (1). | ||
(4) Money required to be paid by the Minister for Finance under this section shall be advanced out of the Central Fund or the growing produce thereof. |