No. 26/1929:

ELECTRICITY (FINANCE) ACT, 1929

ARRANGEMENT OF SECTIONS

1 Amendment of section 11 of the Shannon Electricity Act, 1925.

2 Amendment of section 12 of the Electricity (Supply) Act, 1927.

3 Amendment of section 15 of the Electricity (Supply) Act, 1927.

4 Short title.

AN ACT TO AMEND SUB-SECTIONS (4) AND (5) OF SECTION 11 of THE SHANNON ELECTRICITY ACT, 1925 , AND SECTIONS 12 AND 15 OF THE ELECTRICITY (SUPPLY) ACT, 1927 .

[24th July, 1929.]

BE IT ENACTED BY THE OIREACHTAS OF SAORSTÁT EIREANN AS FOLLOWS:—

1.—(1) Sub-section (4) of section 11 of the Shannon Electricity Act, 1925 (No. 26 of 1925), is hereby amended by the insertion at the end of the said sub-section of the words "except on so much of such advances (but not exceeding the sum of one hundred and thirty-two thousand, four hundred and fifty pounds) as is expended on the improvement of navigation under the powers in that behalf conferred on the Minister by this Act."

(2) Sub-section (5) of section 11 of the Shannon Electricity Act, 1925 , is hereby amended by the deletion of the words "five millions, two hundred and ten thousand pounds" now contained therein and the insertion in lieu of the words so deleted of the words "five millions, eight hundred and thirty-five thousand pounds."

2.— Section 12 of the Electricity (Supply) Act, 1927 (No. 27 of 1927), shall be construed and have effect as if the following sub-section were inserted therein in lieu of sub-section (2) now contained therein, that is to say:—

"(2) The total amount of the sums advanced to the Board under this section to meet the liability of the Board under this Act in respect of interest and arrears of interest on sums advanced out of the Central Fund under the Shannon Electricity Act, 1925 (No. 26 of 1925), to the separate fund established under section 11 of that Act and the expenses incurred by the Board in the operation, maintenance, and repair of the Shannon works under this Act shall not exceed the sum of one hundred and fifty-six thousand pounds."

3.—(1) Notwithstanding anything contained in section 15 of the Electricity (Supply) Act, 1927 (No. 27 of 1927), the Electricity Supply Board shall not be under any liability to repay to the Minister for Finance so much (not exceeding the sum of one hundred and thirty-two thousand, four hundred and fifty pounds) of the sums advanced at any time out of the Central Fund under the Shannon Electricity Act, 1925 (No. 26 of 1925), to the separate fund established under section 11 of that Act as is expended on the improvement of navigation under the powers in that behalf conferred on the Minister for Industry and Commerce by the last-mentioned Act or to pay interest to the Minister for Finance on so much as aforesaid of the said sums so advanced.

(2) The expression "the said advances" where the same occurs in section 15 of the Electricity (Supply) Act, 1927 , shall be construed as not including any sum for the repayment of which the Electricity Supply Board is relieved of liability by this section.

4.—This Act may be cited as the Electricity (Finance) Act, 1929 .