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Number 33 of 1924.
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TELEPHONE CAPITAL ACT, 1924.
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ARRANGEMENT OF SECTIONS
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Number 33 of 1924.
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TELEPHONE CAPITAL ACT, 1924.
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AN ACT TO GRANT MONEY FOR THE DEVELOPMENT OF THE TELEPHONIC SYSTEM OF SAORSTÁT EIREANN AND FOR OTHER PURPOSES CONNECTED THEREWITH. [28th July, 1924.]
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BE IT ENACTED BY THE OIREACHTAS OF SAORSTÁT EIREANN AS FOLLOWS:—
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Grant for development of telephonic system.
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1.—(1) The Minister for Finance may issue out of the Central Fund or the growing produce thereof such sums not exceeding in the whole the sum of five hundred thousand pounds as may be required by the Minister for Posts and Telegraphs for the purpose of developing the telephonic system of Saorstát Eireann according to estimates approved by the Minister for Finance.
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(2) All sums which have, previous to the passing of this Act, been issued by the Minister for Finance out of the Central Fund or the growing produce thereof or out of the Consolidated Fund of the Provisional Government of Ireland to the Postmaster-General or the Minister for Posts and Telegraphs for the purpose of developing the telephonic system of Saorstát Eireann shall be deemed to have been so issued under the authority of this Act, and shall be included in any calculation of the total sums issued under such authority.
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Minister for Finance may borrow for purposes of this Act.
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2.—(1) For the purpose of providing money for the sums by this Act authorised or deemed to have been authorised to be issued out of the Central Fund or of providing money for the repayment to the Central Fund of all or any sums issued thereout under the authority of this Act, or deemed by this Act to have been so issued under such authority, the Minister for Finance may borrow by means of terminable annuities extending over a period not exceeding twenty years.
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(2) All moneys borrowed under this section shall be paid into the Exchequer.
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(3) All terminable annuities created under this section shall be paid out of moneys provided by the Oireachtas for the service of the Post Office, and, if those moneys are insufficient, shall be charged on and payable out of the Central Fund or the growing produce thereof.
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(4) References in this section to moneys issued out of the Central Fund shall be construed as referring also to moneys issued out of the Consolidated Fund of the Provisional Government of Ireland.
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Preparation and audit of accounts.
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3.—(1) Within eight months after the expiration of the financial year ended on the 31st day of March, 1924, and within eight months after the end of every subsequent financial year in which any sum is issued or expended under the authority of this Act, the Minister for Posts and Telegraphs shall cause an account to be prepared in a form to be prescribed by the Minister for Finance showing the money expended and borrowed and the securities created under the authority of this Act or deemed by this Act to have been so expended, borrowed or created.
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(2) Every account of expenditure prepared pursuant to this section shall be transmitted to the Comptroller and Auditor-General, and shall be audited and reported on by him as an appropriation account in manner directed by the Exchequer and Audit Departments Acts, 1866 and 1921.
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Statements and accounts to be laid before the Oireachtas.
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4.—(1) Within six months after the passing of this Act, the Minister for Posts and Telegraphs shall lay before each House of the Oireachtas a statement of account in a form to be prescribed by the Minister for Finance showing the income and expenditure in respect of the telephone service during the financial year ended on the 31st day of March, 1923.
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(2) On or before the 30th day of November in the year 1924, and every subsequent year the Minister for Posts and Telegraphs shall lay before each House of the Oireachtas—
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(a) a statement showing the amount expended during the previous financial year on account of the annual charge in respect of terminable annuities created or deemed by this Act to have been created under the authority of this Act, and
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(b) a statement of account in a form to be prescribed by the Minister for Finance showing the income and expenditure in respect of the telephone service during the previous financial year.
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(3) If the Oireachtas shall not be sitting at the expiration of any time within which a statement or account is by this section required to be laid before it, such time shall be extended to the end of one week after the commencement of the next session of the Oireachtas.
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Short title.
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5.—This Act may be cited as the Telephone Capital Act, 1924.
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