Committee on Finance. - Minerals Company Bill, 1944—Money Resolution.

I move:-

That for the purpose of any Act of the present Session to dissolve Comhlucht Gual-Láthrach Shliabh Árdachadh, Teoranta, and to transfer its undertaking to the company now called Comhlucht Lorgtha agus Forbartha Mianraí, Teoranta, to amend the Minerals Exploration and Development Company Act, 1941, and to provide for certain other matters connected with the matters aforesaid it is expedient to authorise the payment out of moneys provided by the Oireachtas of advances and grants to the company formed in pursuance of such Act.

Is there any statement as to what amount of money this is likely to cover?

There are provisions in the Bill for increasing the total of the advances that may be made to the new company. There will be no administrative expenses involved in the operation of the Bill, but that particular provision of the Bill may involve increased repayable advances from the Exchequer.

Of £400,000?

Up to £400,000.

Resolution put and agreed to.
Resolution reported and agreed to.