Great Northern Railway Act, 1958

PART IV.

Winding-up of Great Northern Railway Board.

Winding-up of Great Northern Railway Board.

20.—(1) When the outgoing Board has complied with any request made to it by the Board for the purpose of securing that the ownership of any property or assets or any right is effectively transferred to the Board and ascertained that the Board does not desire to make any further request, the outgoing Board shall notify the Minister.

(2) If the Minister, after consultation with the Minister of Commerce, is satisfied (whether any such notice has been given to him or not) that any request so made has been complied with and that there are no further requirements to be complied with, the Minister shall make an order that there is no reason for the continued existence of the outgoing Board and shall cause the order to be published in Iris Oifigiúil, and upon the publication thereof the outgoing Board shall be dissolved and section 6 of the Act of 1953, by which it was incorporated, shall cease to have effect.

(3) During the period beginning on the transfer date and ending on the dissolution of the outgoing Board, the statutory provisions and other instruments relating to it shall remain in force in relation thereto as if this Act had not passed, so far as the powers conferred thereby are required for the remaining purposes of the outgoing Board.

(4) One half of all expenses reasonably and properly incurred by the outgoing Board (including remuneration of its members and of the actuary appointed for the purpose of subparagraph (e) of paragraph 7 of the scheduled agreement) after the transfer date for the purpose of winding up its affairs shall be defrayed by the Board, and the Board shall make available to the outgoing Board such facilities for the examination of and the making of extracts from or copies of books, accounts and documents surrendered to the Board as the outgoing Board may reasonably require, and the Board shall make available to the outgoing Board the services of such officers and servants, on such terms and conditions, and for such period, as may be agreed between the Board and the outgoing Board or, failing agreement, as may be determined by the Minister in agreement with the Ministry, and one half of the remuneration of those officers and servants shall be defrayed by the Board.

(5) All other expenses reasonably and properly incurred by the outgoing Board shall be defrayed by the Board.