asked the Minister for Finance if he will state the names of the directors appointed to the Irish Sugar Company and the terms and conditions of each such appointment, including the period for which the appointment is made, the salary and allowances attached thereto.
Ceisteanna—Questions. Oral Answers. - Irish Sugar Company.
The reply is in the form of a tabular statement which will be circulated with the Official Debates.
The following is the reply:—
COMHLUCHT SIUICRE EIREANN TEORANTA.
STATEMENT OF PARTICULARS ASKED FOR IN DEPUTY DAVIN'S QUESTION OF THE 16TH MAY, 1935.
|
Names of Directors |
Period of Appointment |
Salary |
Allowances |
Other Terms and Conditions of Appointment as Director |
|
Joseph Henry Hinchcliff(Chairman of Board) (Civil Servant). |
3 years from September, 1933, subject to renewal. |
£2,000 a year, inclusive. |
— |
Whole-time Director.Absence from duty as a Civil Servant treated as special leave without pay. |
|
Theodore Hayek(Managing Director). |
From 9th October, 1933, to 8th August, 1936, with option to Company to continue for further two years. |
£3,800 a year, inclusive, free of Income Tax, for period ending 8th August. 1936. £3,500 a year, inclusive, free of Income Tax, for further period, if any. |
Free residence, fuel and light, or, in lieu thereof, £350, inclusive, a year, free of Income Tax. In addition, the Company provides the free services of a gardener. |
Six weeks' annual leave with pay.If incapacitated through ill-health or otherwise during the continuance of the appointment, he is entitled to full pay and emoluments for a period not exceeding six months in all. If the period of incapacity exceeds one month, he will be required to provide a substitute at his own expense during the ensuing months or such lesser period as he is absent from duty. If his absence continues for six successive months the Company will have the option to determine the employment on such terms as may be agreed, or in default of agreement, as may be determined by the Minister for Finance, subject to the payment to Mr. Hayek of a maximum of six months' salary. |
|
In the event of Mr. Hayek's continuing in the employment of the Company in the capacity of Managing Director for at least five years and of his death after that period while still in such employment, a sum equivalent to one-half of his total salary per annum and emoluments per annum from the Company at the date of his death will be payable to his widow or surviving child or children. |
||||
|
The Managing Director is required to give his whole-time service in the post and while occupying the post cannot engage in any other commercial enterprise of any kind. |
||||
|
John Connell(Temporary Vice-Chairman)(Civil Servant). |
(a) As part-time Director subject to Articles 110 and 111 of the Articles of Association.(b) As Vice-Chairman from 1st July, 1934 to 30th June, 1935. |
As part-time Director, £300 a year, inclusive, increased to £500 a year, inclusive, while acting as Vice-Chairman. In addition, while Mr. Connell acts as whole time Vice-Chairman the Company recoups to public funds his total Civil Service salary of £893 10s. a year,including bonus, plus a pension contribution at the rate of £111 13s. 9d. a year. While Mr. Connell acts as part-time Director the Company recoups £100 a year (inclusive) to public funds plus a pension contribution at the rate of £12 10s. a year. |
— |
Whole-time while acting as Vice-Chairman and part-time as Director |
|
Patrick O'Kelly(Civil Servant) |
Subject to Articles 110 and 111 of the Articles of Association. |
£300 a year, inclusive.Mr. O'Kelly's total Civil Service salary is £847 a year, including bonus. Of this amount the Company recoups to public funds £100 a year, inclusive, plus a pension contribution at the rate of £12 10s. a year, in respect of his part-time service as Director. |
— |
Part-time. |
|
Edmund Williams. |
Do. |
£300 a year, inclusive. |
— |
Do. |
|
William S. Yates. |
Do. |
Do. |
— |
Do. |
|
John E. MacAilin. |
Do. |
Do. |
— |
Do. |
NOTES.
(1) EXPENSES.—Article 104 of the Company's Articles of Association provides that the Directors shall be entitled to be paid their reasonable travelling, hotel, and other expenses incurred in consequence of their attendance at Board meetings, factories and otherwise in the execution of their duties as Directors.
(2) ROTATION OF DIRECTORS—Articles 110 and 111 of the Company's Articles of Association, which relate to this matter, are as follows:—
110.—At the Ordinary General Meeting to be held in the year 1934, and in every subsequent alternate year, one of the Directors for the time being who shall have been appointed by the subscribers to these Articles, or the majority of them, or by the Company, as the case may be, other than the Managing Director, shall retire from office. At the Ordinary Meeting to be held in the year 1935, and in every subsequent alternate year, one of the Directors for the time being who shall have been appointed by the Minister, other than the Managing Director, shall retire from office. A retiring Director shall retain office until the dissolution or adjournment of the meeting at which his successor has been elected, or until his successor has been appointed by the Minister, as the case may be. When the power of the Minister to appoint Directors ceases to exist, two Directors shall retire from office at the Ordinary Meeting held in each year.
111.—Of the Directors those to retire from office shall be those who have been longest in office since their last election or appointment, but as between persons who become Directors on the same day those to retire (unless they otherwise agree among themselves) shall be determined by lot. A retiring Director shall be eligible for reelection or re-appointment. The Company at the General Meeting at which a Director, other than a Director appointed by the Minister, retires in manner aforesaid, may fill up the vacated office by electing a person thereto, and if at any such Meeting the place of a retiring Director is not filled up, the retiring Director shall be deemed to have been re-elected.