National Stud (Amendment) Act, 1993

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Number 4 of 1993

NATIONAL STUD (AMENDMENT) ACT, 1993

ARRANGEMENT OF SECTIONS

Number 4 of 1993

NATIONAL STUD (AMENDMENT) ACT, 1993

AN ACT TO AMEND AND EXTEND THE NATIONAL STUD ACTS, 1945 AND 1976. [10th March, 1993]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Interpretation.

1.—In this Act—

“the Act of 1976” means the National Stud Act, 1976 ;

“the Principal Act” means the National Stud Act, 1945 .

Amendment of section 11 of Principal Act.

2.—The following subsection is hereby substituted for subsection (2) of section 11 (inserted by the Act of 1976) of the Principal Act:

“(2) The share capital of the Company shall be £10,000,000 divided into shares of £1 each.”.

Amendment of section 24 of Principal Act.

3.—The following section is hereby substituted for section 24 (inserted by the Act of 1976):

“24. The Company with the approval of the Minister for Agriculture and Food, given with the consent of the Minister for Finance, may from time to time borrow moneys, but the total amount borrowed shall not exceed £5,000,000.”.

Amendment of section 4 of Act of 1976.

4.—Section 4 of the Act of 1976 is hereby amended by the substitution of the following section therefor:

“4.—(1) There shall be paid by the Board to its officers and servants such remuneration and allowances for expenses as the Board thinks fit, subject to, in the case of its chief officer (whether he is so described or otherwise), the approval of the Minister given with the consent of the Minister for Finance.

(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 Board 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 Board shall comply with any directives with regard to such remuneration, allowances, terms or conditions which the Minister may give from time to time to the Board with the consent of the Minister for Finance.”.

Short title, collective citation and construction.

5.—(1) This Act may be cited as the National Stud (Amendment) Act, 1993.

(2) The National Stud Acts, 1945 and 1976, and this Act, may be cited together as the National Stud Acts, 1945 to 1993, and shall be construed together as one Act.