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Dáil Éireann debate -
Thursday, 20 Nov 1947

Vol. 108 No. 15

Committee on Finance. - Irish Shipping Limited Bill, 1947—Committee and Final Stages.

Sections 1 to 8, inclusive, agreed to.
SECTION 9.

I move:—

To delete sub-sections (4), (5) and (7) and to insert in lieu of sub-section (7) the following sub-sections:—

(7) Moneys required to be paid by the Minister under a guarantee under this section shall be advanced out of the Central Fund or the growing produce thereof.

(8) Moneys paid by the Minister under a guarantee under this section shall be repaid to the Minister (with interest thereon at such rates as the Minister appoints) by the company within twelve months from the date of the advance.

(9) Where the whole or any part of moneys advanced under sub-section (7) of this section has not been repaid to the Minister in accordance with sub-section (8) of this section, the amount so remaining outstanding shall be repaid to the Central Fund out of moneys provided by the Oireachtas.

(10) Notwithstanding the provision of moneys under sub-section (9) of this section to repay an amount to the Central Fund, the company shall remain liable to the Minister in respect of that amount and that amount (with interest thereon at such rates as the Minister appoints) shall be repaid to the Minister by the company at such times and in such instalments as the Minister appoints and, in default of repayment as aforesaid and without prejudice to any other method of recovery, shall be recoverable as a simple contract debt in any court of competent jurisdiction.

(11) Moneys repaid by the company to the Minister, or recovered from the company by the Minister, under this section shall be paid into or disposed of for the benefit of the Exchequer.

Amendment agreed to.
Section 9, as amended, and Sections 10 to 13, inclusive, and Title agreed to.
Bill reported with amendment.

If there is no other amendment, it might be well to take the final stages to-night.

I have no objection.

Bill received for final consideration and passed.

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