Air Navigation and Transport Act, 1936

Obligation to furnish balance sheets etc., to the Minister for Finance.

81.—(1) Each company to which this section applies shall within ninety days after the end of every accounting year furnish to the Minister for Finance a balance sheet for such accounting year duly audited by the auditor of such company, and also a profit and loss account for the same accounting year similarly audited.

(2) The balance sheet and profit and loss account to be furnished by each company to which this section applies shall be drawn up in such manner as shall be prescribed by regulations made under this section, and such balance sheet shall contain (in addition to any matter required by such regulations) a summary of the capital, assets and liabilities of such company, together with such particulars as will disclose the nature of such assets and liabilities and the manner in which the value of the assets was arrived at.

(3) Each company to which this section applies shall on demand furnish to the Minister for Finance such explanations as the said Minister shall think proper to require in respect of any balance sheet or profit and loss account furnished pursuant to this section.

(4) A copy of every balance sheet and profit and loss account furnished to the Minister for Finance pursuant to this section shall be laid by him before Dáil Eireann within one month after such balance sheet and profit and loss account are so furnished to him.

(5) Each company to which this section applies shall whenever and so often as the Minister for Finance may require furnish to the said Minister such particulars as he may require in respect of the activities of such company.

(6) The Company shall whenever and so often as the Minister for Finance may require, furnish to the said Minister such particulars (being particulars within the power, possession or procurement of the Company) as he may require in relation to any undertaking (other than Aer Lingus, Teoranta, or a subsidiary company) in which it may hold an interest.

(7) If the Company, or Aer Lingus, Teoranta, or any subsidiary company makes default in complying with the obligations imposed on it by this section, the Company, or Aer Lingus, Teoranta, or such subsidiary company (as the case may be), and every director, manager or other officer thereof who knowingly and wilfully authorised or permitted such default, shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding five pounds for every day during which the default continues.

(8) The Minister for Finance may by order make regulations prescribing any matter referred to in this section as prescribed by regulations made under this section.

(9) This section applies to—

(a) the Company;

(b) Aer Lingus, Teoranta;

(c) every subsidiary company.

(10) An offence under this or the next following section may be prosecuted by or at the suit of the Minister for Finance as prosecutor.