Committee on Finance. - Electricity (Supply) (Amendment) Bill, 1953—Money Resolution.

I move:—

That for the purpose of any Act of the present Session to authorise increases in the total liabilities which may be incurred by the E.S.B. for general purposes and for the electrification of rural areas, to confer additional borrowing powers on the board, to vest the Shannon works in the board and to provide for other matters connected with the functions of the board, it is expedient to authorise:

(a) that moneys may be advanced to the E.S.B. out of the Central Fund or the growing produce thereof for purposes other than the electrification of rural areas provided the total expenditure of the board for capital purposes other than the electrification of rural areas would not thereby exceed £100,000,000,

(b) the advance to the E.S.B. out of the Central Fund or the growing produce thereof of moneys for the electrification of rural areas to the extent that the total of the amounts already advanced and to be advanced for such purposes shall not exceed £16,000,000,

(c) the charge on and payment out of the Central Fund or the growing produce thereof of any moneys from time to time required to meet payments required to be made by the Minister for Finance to the E.S.B. in respect of any stock taken up by him under such Act,

(d) the advance out of the Central Fund or the growing produce thereof of any moneys from time to time required by the Minister for Finance to meet sums which may become payable under any guarantee given by him under such Act, and the payment to the Central Fund out of moneys provided by the Oireachtas of any amounts of such advances as have not been repaid by the board to the Central Fund within 12 months from the date of the advance, and

(e) the charge on and payment out of the Central Fund or the growing produce thereof of the principal of and interest on any securities issued by the Minister for Finance for the purpose of borrowing under such Act.

Money Resolution agreed to.

Money Resolution reported and agreed to.