Dublin and Blessington Steam Tramway (Abandonment) Act, 1932
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Advance for redemption of the guaranteed shares. |
8.—(1) Before the expiration of the time within which the Committee is required by this Act to pay money to the holders of guaranteed shares, the Commissioners shall, out of moneys under their control and applicable to loans, advance to the Committee as agent for the County Councils the sum of £22,000 (twenty-two thousand pounds) which is in this section referred to as “the advance”. | |
(2) The Committee shall apply the advance in paying the several sums of five pounds ten shillings which the Committee is required by this Act to pay in respect of the guaranteed shares to the holders of those shares or into the Circuit Court. | ||
(3) The advance shall be deemed to have been made in equal moieties to the County Councils respectively and each such moiety of the advance shall be repaid and the interest thereon shall be paid by the payment in accordance with this section to the Commissioners in each of the financial years mentioned in the first column of the First Schedule to this Act of the instalments mentioned in the second column of the said Schedule in respect of such year. | ||
(4) In each of the financial years mentioned in the first column of the First Schedule to this Act there shall be paid from the local taxation account to the Commissioners at such time or times and in such manner as the Minister for Finance shall direct, the following sums, that is to say:— | ||
(a) the sum (in this section referred to as the Dublin grant) mentioned in the third column of the said Schedule in respect of such year; and | ||
(b) the sum (in this section referred to as the Wicklow grant) mentioned in the fourth column of the said Schedule in respect of such year. | ||
(5) The Dublin grant paid under this section to the Commissioners in any financial year shall be deemed to be so paid in discharge or part discharge (as the case may be) of the instalment payable in that financial year in respect of the moiety of the advance which is deemed to have been made to the Dublin Council. | ||
(6) The Wicklow grant paid under this section to the Commissioners in any financial year shall be deemed to be so paid in discharge of the instalment payable in that financial year in respect of the moiety of the advance which is deemed to have been made to the Wicklow Council. | ||
(7) The Dublin Council shall in each of the first eight of the financial years mentioned in the first column of the First Schedule to this Act pay to the Commissioners at such time or times and in such manner as the Minister for Finance shall direct, a sum equal to the amount by which the Dublin grant paid under this section to the Commissioners in such financial year falls short of the instalment mentioned in the second column of the said Schedule in respect of such financial year. | ||
(8) The Corporation shall in each of the first eight of the financial years mentioned in the first column of the First Schedule to this Act pay to the Dublin Council a sum which bears to the sum payable under this section by the Dublin Council to the Commissioners in that year the same proportion as the aggregate rateable value on the appointed day of all rateable hereditaments and tenements situate in the portion of the guaranteeing area which is within the county borough on the appointed day bears to the aggregate rateable value on the appointed day of all rateable hereditaments and tenements situate in any part of the guaranteeing area except the portion of that area which is within the County of Wicklow on the appointed day. | ||
(9) In each of the first eight of the financial years mentioned in the first column of the First Schedule to this Act the Dublin Council shall raise the amount by which the sum payable under this section by that Council to the Commissioners in that year exceeds the sum payable under this section by the Corporation to the said Council in that year and the said Council shall raise the said amount in the same manner and off so much of the guaranteeing area as is within the county of Dublin on the appointed day as moneys payable by the said Council in respect of the maintenance and working of the undertaking and the dividends on the guaranteed shares were raisable immediately before the passing of this Act. | ||
(10) In each of the first eight of the financial years mentioned in the first column of the First Schedule to this Act, the Corporation shall raise the sum payable under this section by the Corporation to the Dublin Council in that year by means of the municipal rate off the portion of the guaranteeing area situate within the county borough on the appointed day. |