Vol. 40 No. 18
I formally move:—
That the Dundalk Gas Order, 1952, proposed to be made by the Minister for Industry and Commerce and laid in draft before Seanad Eireann on the 4th day of June, 1952, under subsection (4) of Section 10 of the Gas Regulation Act, 1920, be approved.
The Dundalk Gas Company applied for a special Order effecting certain modifications in the Dundalk Gas Company's Act, 1887. The principal objects of the Order are to authorise the company to extend the area within which gas may be supplied, to increase the authorised capital of the company from £30,000 to £50,000 and to enable the company to borrow on mortgage a sum not exceeding £50,000. It also authorises the company to set aside every year out of its profits a sum not exceeding £10,000 to form a fund for the redemption of loans and debenture stock and it makes a minor modification in the qualification of a director. Any Order made by the Minister under the Gas Regulation Act must be confirmed by motion and that is the purpose of this motion.
