S.I. No. 129/1961 - Transport Act, 1950 (Additional Powers) Order, 1961.

S.I. No. 129 of 1961.

TRANSPORT ACT, 1950 (ADDITIONAL POWERS) ORDER, 1961.

I, ERSKINE H. CHILDERS, Minister for Transport and Power, in exercise of the powers conferred on me by section 14 of the Transport Act, 1950 (No. 12 of 1950), and the Transport, Fuel and Power (Transfer of Departmental Administration and Ministerial Functions) Order, 1959 ( S.I. No. 125 of 1959 ), with the consent of the Minister for Finance, hereby order as follows :

1. This Order may be cited as the Transport Act, 1950 (Additional Powers) Order, 1961.

2. Córas Iompair Éireann may establish or promote a company having as its principal objects the building, acquisition and carrying on of hotels and places of refreshment and the carrying on of refreshment services and catering services, may subscribe for, take up or otherwise acquire and hold, or sell or otherwise dispose of, shares, stock, debentures or other securities of such company, may lend and advance money or give credit to such company and may guarantee the performance of any contracts or obligations of, and the payment of money by, such company.

3. Córas Iompair Éireann may sell, lease or otherwise dispose of—

(a) any hotel or place of refreshment owned by it, or

(b) any premises, plant, vehicles, machinery or equipment owned by it and used by it for the purposes of its hotels, places of refreshment, refreshment services or catering services,

to any company established or promoted by it in pursuance of Article 2 of this Order.

GIVEN under my Official Seal, this 27th day of June, 1961.

ERSKINE H. CHILDERS,

Minister for Transport and Power.

The Minister for Finance hereby consents to the making of the foregoing Order.

GIVEN under the Official Seal of the Minister for Finance, this 27th day of June, 1961.

SÉAMAS Ó RIAIN.

EXPLANATORY NOTE.

The Order confers on C.I.E. the power to establish or promote a subsidiary company to take over, operate and develop the Board's hotels and catering services.