Air Companies Act, 1966

/static/images/base/harp.jpg


Number 4 of 1966.


AIR COMPANIES ACT, 1966


ARRANGEMENT OF SECTIONS

Section

1.

Definitions.

2.

Transfer of shares held by Aer Rianta and reduction of its share capital.

3.

Transfer of £700,000 from Aer Rianta to Aer Lingus and issue of shares of Aer Lingus to value of £700,000 to Minister for Finance.

4.

Advances to Aer Lingus and Aerlinte by Minister for Finance.

5.

Guarantee by Minister for Finance of borrowings by Aer Lingus and Aerlinte.

6.

Vesting in Minister for Finance upon death of director of an air company of director's share.

7.

Provision of moneys for payments under the Act out of the Central Fund.

8.

Exercise by Minister for Finance of right or power exercisable by holder of shares of the air companies.

9.

Payment of dividends, etc., into Exchequer.

10.

Restriction on issue of shares of the air companies.

11.

Borrowing by the air companies.

12.

Directors of the air companies.

13.

Chairmen of the boards of directors of the air companies.

14.

Membership of either House of the Oireachtas by directors, officers and servants of the air companies.

15.

Alteration of memoranda and articles of association of the air companies.

16.

Restriction on alteration of memoranda and articles of association of the air companies.

17.

Furnishing of accounts to Minister.

18.

Appointment of auditors by the air companies.

19.

Exemption from stamp duty.

20.

Approval by Minister of superannuation schemes for officers and servants of the air companies.

21.

Repeals.

22.

Expenses.

23.

Short title and commencement.

SCHEDULE

Enactments Repealed


Acts Referred to

Companies Act, 1963

1963, No. 33

Air Navigation and Transport Act, 1961

1961, No. 25

Air Navigation and Transport Act, 1936

1936, No. 40

/static/images/base/harp.jpg


Number 4 of 1966.


AIR COMPANIES ACT, 1966


AN ACT TO PROVIDE FOR THE TRANSFER TO THE MINISTER FOR FINANCE OF THE SHARES OF AER LINGUS, TEORANTA, AND AERLINTE EIREANN, TEORANTA, HELD BY AER RIANTA, TEORANTA, AND THE TRANSFER TO AERLINTE EIREANN, TEORANTA, OF CERTAIN OTHER SHARES AND DEBENTURE STOCK HELD BY AER RIANTA, TEORANTA, TO PROVIDE FOR A REDUCTION OF THE SHARE CAPITAL OF AER RIANTA, TEORANTA, TO ENABLE THE MINISTER FOR FINANCE TO TAKE UP SHARES OF AER LINGUS, TEORANTA, TO THE VALUE OF £700,000, TO PROVIDE FOR THE MAKING OF ADVANCES TO AND THE GUARANTEEING OF SUMS BORROWED BY AER LINGUS, TEORANTA, AND AERLINTE EIREANN, TEORANTA, TO MAKE FURTHER AND OTHER PROVISION IN RELATION TO THE SAID COMPANIES AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [16th February, 1966.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—