I move:—
That for the purpose of any Act of the present session to amend and extend the Electricity (Supply) Acts, 1927 to 1958, and the Shannon Fisheries Acts, 1935 and 1938, and to provide for the vesting in and exercise by the Minister for Lands of certain powers and functions in relation to the fisheries and fishing rights vested in the Electricity Supply Board, it is expedient to authorise:—
(1) that moneys may be advanced to the Electricity Supply Board out of the Central Fund or the growing produce thereof for all capital purposes provided that—
(a) the total expenditure of the Board for capital purposes other than the electrification of rural areas would not thereby exceed one hundred and twenty million pounds, and
(b) the total expenditure of the Board for the electrification of rural areas would not thereby exceed thirty-two million pounds;
(2) the advance to the Electricity Supply Board out of the Central Fund or the growing produce thereof of one moiety of the expenditure incurred by the Board after the 31st day of March, 1958, for the electrification of rural areas until, but only until, the total expenditure of the Board for the electrification of rural areas amounts to the sum of thirty-two million pounds, and the repayment to the Central Fund out of moneys provided by the Oireachtas of moneys advanced out of that Fund or the growing produce thereof in respect of such expenditure;
(3) the charge on and payment out of the Central Fund or the growing produce thereof of all moneys from time to time required to meet payments required to be made by the Minister for Finance to the Electricity Supply Board in respect of any stock taken up by him under such Act;
(4) the advance out of the Central Fund or the growing produce thereof of all 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 repayment to the Central Fund out of moneys provided by the Oireachtas of the amount of such advances which has not been repaid to that Fund by the Electricity Supply Board within twelve months from the date of the advance;
(5) the charge on and payment out of the Central Fund or the growing produce thereof of the principal of and interest on all securities issued by the Minister for Finance for the purpose of borrowing under such Act.
