Finance Act, 1985
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Financial arrangements relating to, Bord Telecom Éireann. |
68.—(1) Notwithstanding anything in the Postal and Telecommunications Services Act, 1983 , the Minister for Finance may, after consultation with the Minister for Communications and Bord Telecom Éireann (in this section referred to as “the company”), require payments to be made to him by the company, at such times and in such manner as he may appoint, in respect of moneys to be repaid by the company for the benefit of the Exchequer under that Act, and the company may, with the consent of the Minister for Finance and the Minister for Communications, make any arrangements necessary to finance such payments. | |
(2) (a) The Minister for Finance may, after consultation with the Minister for Communications, purchase shares in the company to finance capital works, and any shares so purchased shall be issued to the Minister for Communications. | ||
(b) Any moneys required for any such purchase, up to an amount not exceeding £170,000,000, shall be advanced out of the Central Fund or the growing produce thereof. | ||
(3) The Postal and Telecommunications Services Act, 1983 , is hereby amended— | ||
(a) by the insertion, after subparagraph (ii) of section 10 (3) (b), of the following: | ||
“and | ||
(iii) the amount of shares issued to the Minister under section 68 of the Finance Act, 1985” and | ||
(b) by the insertion in section 21 after “31” of “, and in section 68 of the Finance Act, 1985”. |