S.I. No. 159/1950 - Subsidy (Aer-Rianta, Teoranta) (No. 2) Order, 1950.

S.I. No. 159 of 1950.

SUBSIDY (AER-RIANTA, TEORANTA) (NO. 2) ORDER, 1950.

The Minister for Finance, in exercise of the powers conferred on him by the Air Navigation and Transport Acts, 1936 to 1950, hereby orders as follows :—

1. This Order may be cited as the Subsidy (Aer-Rianta, Teóranta) (No. 2) Order, 1950.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to this Order.

3. In this Order—

the expression " the Company " means Aer-Rianta, Teóranta ;

the expression " losses of the Company " means the aggregate of—

(a) the loss sustained by the Company, and

(b) the part, falling to be borne by the Company, of the loss sustained by Aer Lingus, Teóranta,

in any activities in connection with aviation (other than the management by the Company of the Dublin Airport on behalf of the Minister for Industry and Commerce) undertaken in accordance with the policy from time to time approved of by the Minister for Industry and Commerce ;

4.—(1) The Minister for Industry and Commerce is hereby authorised to pay to the Company a subsidy (in this Order referred to as the subsidy) equal to the lesser of the following :—

(a) Fifty thousand pounds ;

(b) the sum which the Minister for Finance and the Minister for Industry and Commerce estimate will be the losses of the Company in the year ending on the 31st day of March, 1951.

(2) The subsidy shall be paid to the Company before the 1st day of April, 1951.

5. For the purposes of this Order—

(a) actual losses of the Company shall, as far as possible, be ascertained by reference to the accounts, as audited under section 81 of the Air Navigation and Transport Act, 1936 (No. 40 of 1936), of the Company, and of Aer Lingus, Teóranta ;

(b) the determination by the Minister for Finance and the Minister for Industry and Commerce of the amount of the said actual losses of the Company shall be final.

6. If the actual losses of the Company in the year ending on the 31st day of March, 1951, as so determined, are less than the subsidy, the Company shall repay the difference to the Minister for Industry and Commerce before the 1st day of September, 1951.

7. The Company shall supply to the Minister for Industry and Commerce, on being so requested, such information as that Minister may require for the purposes of this Order.

GIVEN under the Official Seal of the Minister for Finance, this 6th day of June, 1950.

J. J. McELLIGOTT.