No. 12/1931:

TELEPHONE CAPITAL ACT, 1931

ARRANGEMENT OF SECTIONS

1 Further grant for development of telephonic systems.

2 Minister for Finance may borrow for the purpose of this Act.

3 Incorporation of Sections 3 and 4 of the Telephone Capital Act, 1927.

4 Short title and citation.

AN ACT TO GRANT FURTHER MONEY FOR THE DEVELOPMENT OF THE TELEPHONIC SYSTEM OF SAORSTÁT EIREANN AND FOR OTHER PURPOSES CONNECTED THEREWITH.

[12th May, 1931.]

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

1.—In addition to the moneys authorised by the Telephone Capital Acts, 1924 and 1927, the Minister for Finance may issue out of the Central Fund or the growing produce thereof such sums not exceeding in the whole the sum of two hundred and fifty thousand pounds as have been or may be required by the Minister for Posts and Telegraphs for the purpose of developing the telephonic system of Saorstát Eireann according to estimates approved by the Minister for Finance.

2.—(1) For the purpose of providing money for the sums by this Act authorised to be issued out of the Central Fund or of providing money for the repayment to the Central Fund of all or any sums issued thereout under the authority of this Act, the Minister for Finance may borrow by means of terminable annuities extending over a period not exceeding twenty years.

(2) All moneys borrowed under this section shall be paid into the Exchequer.

(3) All terminable annuities created under this section shall be paid out of moneys provided by the Oireachtas and, if those moneys are insufficient, shall be charged on and payable out of the Central Fund or the growing produce thereof.

3.— Sections 3 and 4 of the Telephone Capital Act, 1927 (No. 8 of 1927), are incorporated with this Act.

4.—(1) This Act may be cited as the Telephone Capital Act, 1931 ,

(2) The Telephone Capital Acts, 1924 and 1927, and this Act may be cited together as the Telephone Capital Acts, 1924 to 1931.