Irish Shipping Limited (Amendment) Act, 1984

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Number 8 of 1984

IRISH SHIPPING LIMITED (AMENDMENT) ACT, 1984

ARRANGEMENT OF SECTIONS

Number 8 of 1984

IRISH SHIPPING LIMITED (AMENDMENT) ACT, 1984

AN ACT TO AMEND THE IRISH SHIPPING LIMITED ACTS, 1947 TO 1982. [17th April, 1984]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Amendment of section 9 of Irish Shipping Limited Act, 1947.

1.— Section 9 of the Irish Shipping Limited Act, 1947 , is hereby amended by the substitution for subsections (1) and (2) of the following subsections:

“(1) The Minister may, after consultation with the Minister for Communications, guarantee—

(a) the due repayment by the Company of the principal of any moneys borrowed, with his consent, by the Company or the payment of interest on such moneys or both the repayment of such principal and the payment of such interest,

(b) the payment of promissory notes made by the Company or bills of exchange drawn or accepted by the Company.

(1A) Whenever the Minister gives a guarantee under this section, he may—

(a) in case it is a guarantee of the repayment of moneys borrowed or the repayment of interest on any such moneys, guarantee in such form and manner and in such moneys (including moneys in a currency other than the currency of the State) and on such terms and conditions as he thinks fit the due repayment by the Company of the moneys or the payment of the interest by the Company or both the repayment of such moneys and the payment of such interest,

(b) in case it is a guarantee of payment of a promissory note or bill of exchange, guarantee in such form and manner and in such moneys (including moneys in a currency other than the currency of the State) and on such terms and conditions as he thinks fit, the due payment of the promissory note or bill of exchange, as the case may be.

(2) The Minister shall not so exercise the powers conferred on him by subsection (1) of this section that the amount, or the aggregate amount, other than amounts in respect of interest, which he may at any one time be liable to repay on foot of any guarantee or guarantees under that subsection for the time being in force, together with the amounts (if any) other than amounts in respect of interest, which the Minister has previously paid on foot of any such guarantees and which have not been repaid, exceeds £45,000,000.”.

Remuneration of staff.

2.—(1) There shall be paid by the Company to its officers and servants such remuneration and allowances for expenses as the Company thinks fit, subject to, in the case of its chief officer (whether that officer is described as the Chief Officer or otherwise), the approval of the Minister for Communications given with the consent of the Minister for the Public Service.

(2) In determining the remuneration or allowances for expenses to be paid to its officers or servants or the terms or conditions subject to which such officers or servants hold or are to hold their employment, the Company shall have regard either to Government or nationally agreed guidelines which are for the time being extant, or to Government policy concerning remuneration and conditions of employment which is so extant, and, in addition to the foregoing, the Company shall comply with any directives with regard to such remuneration, allowances, terms or conditions which the Minister for Communications may give from time to time to the Company with the consent of the Minister for the Public Service.

Superannuation of staff.

3.—Any alteration in the terms or conditions, in force at the commencement of this Act, governing the grant of pensions, gratuities, allowances or other payments on resignation, retirement or death, to or in respect of a member of the staff of the Company, including its chief officer, or any other arrangement to provide for benefits on resignation, retirement or death, additional to those aforesaid, shall not take effect unless the said alteration or arrangement has the approval of the Minister for Communications given with the consent of the Minister for the Public Service.

Short title and collective citation.

4.—(1) This Act may be cited as the Irish Shipping Limited (Amendment) Act, 1984.

(2) The Irish Shipping Limited Acts, 1947 to 1982, and this Act may be cited together as the Irish Shipping Limited Acts, 1947 to 1984, and shall be construed as one with those Acts.