Just a small point of terminology which applies to sections 9 and 10 also. Subsection (1) provides that the directors shall be appointed "by (but only by) the Minister..." What is the meaning of "but only by"?
British & Irish Steam Packet Company Limited (Acquisition) Bill, 1965: Committee and Final Stages.
Sections 1 to 7, inclusive, agreed to.
SECTION 8.
Question proposed: "That section 8 stand part of the Bill."
I am afraid that is one of those decisions by the parliamentary draftsman which I cannot define.
It seems to me to be utterly meaningless.
Question put and agreed to.
Sections 9 and 10 agreed to.
SECTION 11.
Question proposed: "That section 11 stand part of the Bill".
Subsection (2) provides:
The balance sheet and profit and loss account and report furnished to the Minister pursuant to subsection (1) of this section shall be laid by him before each House of the Oireachtas as soon as may be after such balance sheet, profit and loss account and report are so furnished to him.
I should know the answer to this question but I do not. These accounts will be furnished in accordance with the Companies Act, 1963. Will they be any fuller than those ordinarily got from a State company in the past? Will more detail be involved? People were always asking for fuller information from State companies in the past? Will this conform to the Companies Act?
I cannot say what effect the Companies Act would have on the presentation of the accounts of this company, but they will comply with the Companies Act.
Which gives more detail.
It does in some respects.
Question put and agreed to.
Sections 12 to 17, inclusive, agreed to.
Schedule agreed to.
Title agreed to.
Bill reported without amendment, received for final consideration, and passed.
The Seanad adjourned at 9.5 p.m. until 3 p.m. on Wednesday, 24th March, 1965.