Electricity (Supply) (Amendment) Act, 1962

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Provision of moneys for further development in electrified rural areas.

5.—(1) Subject to subsection (2) of this section, the Minister for Finance may, on the recommendation of the Minister, and until, but only until, the time when the total expenditure of the Board for the electrification of rural areas amounts to the sum of thirty-seven million pounds or the 17th day of April, 1967, whichever is the earlier, advance to the Board, as and when requested by the Board to do so three-quarters of the capital expenditure incurred by the Board, whether before or after the passing of this Act, after the 17th day of April, 1962, in connecting premises to systems of distribution for electricity in rural areas to which a supply of electricity has previously been extended, and three-quarters of the capital expenditure incurred by the Board, whether before or after the passing of this Act, after the said 17th day of April, 1962, in improving systems of distribution for electricity in rural areas to which a supply of electricity has previously been extended.

(2) Not more than seventy-five pounds shall be advanced to the Board under subsection (1) of this section in respect of the capital expenditure incurred by the Board in connecting a house used as a dwelling to a system of distribution for electricity.

(3) All moneys advanced to the Board under the foregoing subsection of this section shall be issued from and paid out of the Central Fund or the growing produce thereof.

(4) The moneys advanced to the Board under this section by the Minister for Finance shall be repaid to the Central Fund out of moneys provided by the Oireachtas at such time or times as the Minister for Finance shall direct.