This Bill is intended to implement the agreement signed on 16th March, 1957, between this country and the United States of America. That agreement provided that a sum of £500,000 out of the American Counterpart Fund of £6,000,000 should be set aside to promote mutual understanding between the countries by wider exchange of knowledge and through educational contracts. I must say, as was said by the Minister for External Affairs in the Dáil, that the Government and the people of Ireland are very much indebted to the Government and people of the United States of America for this generous contribution and we hope that, through it, the closer contact that will be made between the peoples of the two countries, particularly in the educational field, will tend to strengthen the ties that exist between the two countries.
The Bill provides for the setting up of this special fund to be administered by a board known as An Bord Scoláireachtaí Cómalairte. The board will consist of seven persons, four to be Irish citizens nominated by the Minister for External Affairs, and three, citizens of the United States of America, to be nominated by the chief of the American Diplomatic Mission in this country. The chairman of the board will be one of those members nominated by the Minister for External Affairs; in other words, an Irish citizen.
The functions of the board will be as set out in Section 5, to provide for the financing of studies, research, instruction, teaching, lecturing and other educational activities of Irish citizens in America and of American citizens in this country.
The scheme will be operated in cooperation with the United States Board of Foreign Scholarships. In addition, the board will be required to set forth its estimated budget for one year commencing on 1st April of each year and will also be expected to set out its proposed programme for that period. The Minister may then, if he thinks proper, approve of that programme and budget for the ensuing year.
The board will be required, before 30th June of each year, to present its annual report to the Minister, which will be laid on the Table of each House of the Oireachtas. The board will meet at least once a quarter and Section 10 contains provisions for the absence of the chairman and the appointment of a deputy chairman for any particular meeting, and provisions in relation to the quorum. Any member of the board may be required to resign, by the Minister or by the Chief of the Diplomatic Mission of the United States, according as that particular member is nominated by one or the other. Membership of the board will last for two years, subject to that membership ending on 31st December of the second year next after the appointment of that member to the board; but he will be eligible for reappointment on the termination of his period of appointment.
The board will be required to invest so much of the fund as is over and above their normal requirements, in securities to be approved by the Minister for External Affairs. The board will also be in a position to reticula ceive gifts of money, endowments or otherwise, to add to its finances. The board is intended to be a permanent board, but naturally provisions have to be included in the Bill for its winding up.
The provisions of the Bill were very carefully considered between the two Governments before it appeared in draft and I would ask the House to accept the Bill in its entirety, as it appears before the House. In doing so, we can confidently expect that the exchange of persons of high academic standing between the two countries will strengthen the friendship and understanding which already exists. I am sure that Irish students of all branches of learning—arts, economics, agriculture and industry—will benefit greatly by the provisions of the Bill and by the moneys provided in the fund. The citizens of the United States will also benefit greatly by their coming to this country and learning what higher knowledge we have to offer; and by so doing, they will come to understand the Irish mentality and the Irish economy better. That will still further promote the friendly associations to which I have referred and which everyone knows exist at present.
Finally, I should like to express our very great thanks to the United States Government and people for their hospitality, as is evidenced by the provisions of the Bill.