Minerals Company Act, 1947

Advances to the Company for the working of the Slievardagh Coalfield.

3.—(1) The Minister may, from time to time, with the consent of the Minister for Finance, advance to the Company, out of moneys provided by the Oireachtas, such sums (not exceeding in the aggregate fifty thousand pounds) as the Company may require to develop and work the Slievardagh Coalfield and to make marketable and sell coal and other minerals got by such working.

(2) Sections 11 and 12 of the Principal Act shall apply in respect of any sums advanced under subsection (1) of this section in like manner as the said sections apply in respect of sums advanced under section 10 of the Principal Act.

(3) In this section the expression “the Slievardagh Coalfield” means the State minerals (within the meaning of the Minerals Development Act, 1940 (No. 31 of 1940)), demised by an Indenture of Lease dated the 1st day of May, 1942, and made between the Minister of the first part, the Minister for Finance of the second part and the dissolved company of the third part.