I move:—
Chun críche aon Achta a rithfar sa tSiosón so chun socrú do dhéanamh chun geiniúint, iompar, roinnt agus soláthar leictreachais ar fuaid Shaorstáit Eireann d'ath-chóghléasa agus do regleáil agus go háirithe chun socrú do dhéanamh chun leictreachas do gheiniúint sna hoibreacha do dhin an Stát fé Acht Leictreachais na Sionainne, 1925, agus chun an leictreachas san d'iompar, do roinnt, agus do sholáthar agus, chun na críche sin, chun socrú do dhéanamh chun na hoibreacha san do bhainistí, do riara, agus do stiúrú d'fhonn iad d'oibriú go héifeachtúil agus go heconomiciúil agus i gcóir nithe eile a bhaineas leis na nithe sin no a eireoidh le n-a linn no asta agus chun an tAcht Leictreachais sin na Sionainne, 1925, do leasú, go bhfuil sé oiriúnach a údarú—
(a) go n-íocfar amach as an bPrímh-Chiste no as a thora fáis roimh-íocanna a déanfar fén Acht san agus nách mó ar fad ná suim Tri Milliún agus Céad Míle Punt, agus
(b) go gcuirfar ar an bPrímh-Chiste no ar a thora fáis muirear colann agus ús aon urrúsanna a tabharfar amach chun iasachtaí d'fháil fén Acht san.
That for the purpose of any Act of the present Session to make provision for the reorganisation and regulation of the generation, transmission, distribution and supply of Electricity throughout Saorstát Eireann and in particular to make provision for the generation of Electricity in the works constructed by the State under the Shannon Electricity Act, 1925, and for the transmission, distribution and supply of such electricity and for that purpose to make provision for the management, administration and control of the said works with a view to the efficient and economic operation thereof, and for other matters incidental to or arising in the course of the matters aforesaid or in connection therewith and to amend the said Shannon Electricity Act, 1925, it is expedient to authorise—
(a) payment out of the Central Fund or the growing produce thereof of advances made under such Act not exceeding in the aggregate the sum of Three Millions One Hundred Thousand Pounds, and
(b) the charge upon the Central Fund or the growing produce thereof of the principal and interest of any securities issued for the purpose of borrowing under such Act.
It is proposed by this Money Resolution to provide £3,100,000, that £3,100,000 to cover two separate purposes. As far as £600,000 of it is concerned, it is to enable the Electricity Supply Board to pay interest and arrears of interest on the money expended on the works constructed under the Shannon Electricity Act, 1925, and handed over to the Board by the Minister for Industry and Commerce. It is also to meet the expenses of operation, repairs, maintenance, etc., during the early years when the undertaking is still unremunerative. The time limit fixed is up to 31st December, 1932.
The other portion of the £3,100,000— £2,500,000—is provided to enable the Board to carry out its functions of promoting the distribution of current, wiring of houses, purchase of electrical equipment, loans to undertakers and so forth. Deputies will remember that the Shannon Act, 1925, provided a sum of £5,210,000 for the constructional works and also for the meeting of interest and interest charges and losses in the early years of the undertaking. This sum of £600,000, which is being provided again, is not in addition to the sum that was provided for interest and losses in the early years of the undertaking in the first Act. It is, in a sense, a re-vote of that money, and in no circumstances will the cost of construction, plus the interest charges and losses in the early years, exceed the £5,210,000 provided for in the original Act. This £600,000, or so much of it as may be available, will be paid to the Board. There will be a division of liability between the Board and the Minister, because the responsibility of the Board for interest and arrears of interest will only begin when the undertaking, or part of the undertaking, is handed over to the Board.