I move that the Bill be now read a Second Time.
Supplementary Estimate, 1965-66. - Appropriation Bill, 1965: All Stages.
Leave granted to introduce a Bill entitled an Act to apply a certain sum out of the Central Fund to the services of the year ending on the 31st day of March, 1966, to appropriate to the proper supply services and purposes the sums granted by the Central Fund Act, 1965, and this Act, and to make certain provisions in relation to borrowing.—(Minister for Finance.)
Agreed to take remaining Stages today.
I suppose it would be tactless to inquire when the Minister proposes to circulate the Bill.
I propose to circulate it immediately. The Bill is in its usual form except for section 4, which provides for the borrowing of money in currencies other than Irish currency. It had been assumed up to now that we were statutorily entitled to borrow moneys outside the State in currencies that were not Irish. The advice of the Attorney General in relation to the recent borrowings by Aer Lingus of dollar currency from the United States indicates that we are not so statutorily entitled and section 4 covers this particular deficiency.
Does this cover the State and Aer Lingus, or only the State?
It covers the State. Aer Lingus was covered already by the State Guarantees Act. Section 4 is designed to cure a deficiency in the State's borrowing power. Of course, it goes back to other borrowings made previous to the Aer Lingus borrowings as well.
Question put and agreed to.
Bill put through Committee, reported without amendment, received for final consideration and passed.
Acting Chairman
This Bill is a Money Bill within the meaning of Article 22 of the Constitution.