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Principal objects of companies.
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8.—(1) The principal object of the railway company shall be stated in its memorandum of association to be to provide, within the State and between the State and places outside the State, a railway service and a road freight service and for those purposes to exercise functions in that behalf conferred on the Board by the Act of 1950 or any other enactment.
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(2) The principal object of the Irish bus company shall be stated in its memorandum of association to be to provide, within the State and between the State and places outside the State, a passenger service by road, except in so far as such a service is provided by the Dublin bus company, and to provide ancillary services and for those purposes to exercise functions in that behalf conferred on the Board by the Act of 1950 or any other enactment.
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(3) The principal object of the Dublin bus company shall be stated in its memorandum of association to be to provide a passenger service by road for the city and county of Dublin and contiguous areas and to provide ancillary services, within the State and between the State and places outside the State, and for those purposes to exercise functions in that behalf conferred on the Board by the Act of 1950 or any other enactment.
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(4) There may be included among the objects of each company such other functions of the Board as may be approved by the Board with the consent of the Minister and the Minister for Finance.
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(5) Nothing in this section shall prevent or restrict the inclusion among the objects of a company as stated in its memorandum of association of all such objects and powers as are proper for or incidental or ancillary to the due attainment of the objects aforesaid.
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(6) Each of the companies shall have power to do any thing which appears to it to be requisite, advantageous or incidental to or which appears to it to facilitate the achievement by it of any of its objects as specified in this Act or in its memorandum of association and is not inconsistent with any enactment for the time being in force.
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(7) Where any function of the Board is, by virtue of this Act, a function of a company every provision of any enactment relating to the Board shall, in respect of that function and subject to the provisions of this Act, apply to the company as it applies to the Board.
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(8) Each company shall undertake the functions assigned to it by virtue of this Act in compliance with such directions as the Board may give to the company in writing from time to time.
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(9) In relation to competition between services of the companies, the companies shall have regard to the overall interest of the Board and in any conflict between the companies the Board shall decide the issue with due regard to its overall interest and the interests of the particular companies concerned.
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(10) The Board and the companies shall have due regard to the Board's social role and the need to maintain public transport services integrated to the maximum extent possible within the financial resources available to them.
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