1. Chun crícheanna Achta ar bith a rithfear so tSiosón so chun socruithe do dhéanamh chun cuideachtan do bhunú agus do chlárú ag á mbeidh sé mar phríomh-chuspóir cáirde tionnscail do chur ar fáil agus chun an Aire Airgid do thógaint scair-chaipitail leis an gCuideachtain sin, agus chun crícheanna eile bhaineas leis na nithe roimhráite, go bhfuil sé oiriúnach a údarú:—
1. suim ná raghaidh thar cúig míle déag púnt do thabhairt ar iasacht don chuideachtain roimhráite as airgead a sholáthróidh an tOireachtas;
2. go gcuirfí mar mhuirear ar an bPrímh-Chiste no ar a thoradh fáis—
(a) gach airgead is gá chun scaireanna do cheannach fén Acht san,
(b) colann agus ús aon urrúsanna bhéarfar amach fén Acht san (chun airgid do chur ar fáil i gcóir na suimeanna cuirfear mar mhuirear ar an bPrímh-Chiste) agus na costaisí fé n-a raghfar maidir leis na hurrúsanna san do thabhairt amach.
That, for the purposes of any Act of the present Session to make provision for the formation and registration of a company having for its principal object the providing of industrial credit and for the acquisition by the Minister for Finance of share capital of such company, and for other purposes connected with the matters aforesaid, it is expedient to authorise:—
1. the loan to the aforesaid company out of moneys provided by the Oireachtas of a sum not exceeding fifteen thousand pounds;
2. the charge on the Central Fund or the growing produce thereof of—
(a) all moneys required for the purchase of shares under such Act,
(b) the principal and interest of any securities issued under such Act (for the purpose of providing money for the sums charged on the Central Fund) and the expenses incurred in connection with the issue of such securities.
The expenses involved in the flotation of this company will fall under three heads: (1) From advances to the company to meet preliminary expenses which will not exceed £15,000 and which will bear interest and be ultimately repayable, therefore involving no financial liability upon the Exchequer; (2) the moneys expended by the Minister taking up that balance of the company's issued capital which may remain unsubscribed by the general public. It is absolutely impossible to ascertain what the cost to the Exchequer will be in this connection, but it cannot exceed £5,000,000. The capital, however, will not be issued en bloc and, therefore, this liability, if it ever arises, or if that figure is ever reached, will certainly be spread over a number of years. The third is to cover expenses of issue and interest and sinking fund on the loan for the purpose of providing the necessary moneys to pay for the shares taken up by the Minister for Finance. The whole or part of the expenses borne by the Exchequer, in connection with the purchase of the company's shares, may eventually be recovered from the sale of the Minister's holdings and the shares, standing at premium at a date on which such sale or sales took place, the Exchequer would stand to make a net gain.