No. 31/1933:

SUGAR MANUFACTURE ACT, 1933

ARRANGEMENT OF SECTIONS

PART I PRELIMINARY AND GENERAL

1 Short title.

2 Definition.

3 Expenses of the minister.

PART II COMHLUCHT SIUICRE EIREANN, TEORANTA

4 Formation and registration of Cómhlucht Siúicre Eireann, Teoranta.

5 Loan to Company to pay expenses of formation.

6 Issue of share capital of the Company.

7 Acquisition by the Minister of shares of the Company.

8 State guarantee of debentures of the Company.

9 Charge of moneys on Central Fund.

10 Payment of dividends, etc, into the Exchequer.

11 Power of the Minister as shareholder.

12 Powers of Minister in respect of shares held by him.

13 Consultation by Minister with Ministers for Agriculture and Industry and Commerce.

14 Alteration of Memorandum and Articles of Association of the Company.

15 Obligation to furnish balance sheets, etc., to the Minister.

16 Non-application of Control of Manufactures Act, 1932.

PART III SPECIAL POWERS OF THE COMPANY IN RELATION TO THE COMPULSORY ACQUISITION OF LAND, ETC., AND THE CONSTRUCTION, MAINTENANCE, AND OPERATION OF TRANSPORT WORKS.

17 Transport works.

18 Time limit for exercise of powers under this Part.

19 Right of entry on land.

20 Power of Company to construct, maintain, and operate transport works.

21 Compulsory acquisition of land, etc., by the Company.

22 Payment and ascertainment of compensation.

SCHEDULE

AN ACT TO MAKE PROVISION THE FORMATION AND REGISTRATION OF A COMPANY HAVING FOR ITS PRINCIPAL OBJECTS THE ACQUISITION, ERECTION, AND OPERATION OF SUGAR FACTORIES IN SAORSTÁT EIREANN, AND TO PROVIDE FOR THE ACQUISITION BY THE MINISTER FOR FINANCE OF SHARE CAPITAL OF SUCH COMPANY, FOR THE GIVING OF GUARANTEES BY THE STATE IN RELATION TO DEBENTURES ISSUED BY SUCH COMPANY, FOR THE COMPULSORY ACQUISITION OF LAND AND THE CONSTRUCTION, MAINTENANCE, AND OPERATION OF TRANSPORT WORKS BY SUCH COMPANY, AND FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID.

[23rd August, 1933.]

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

PART I PRELIMINARY AND GENERAL

1.—This Act may be cited as the Sugar Manufacture Act, 1933 .

2.—In this Act the expression "the Minister" means the Minister for Finance.

3.—All expenses incurred by the Minister in the execution of this Act and not otherwise provided for by this Act shall be defrayed out of moneys provided by the Oireachtas.

PART II COMHLUCHT SIUICRE EIREANN, TEORANTA

4.—Immediately upon the passing of this Act the Minister shall take all such steps as appear to him to be necessary or desirable to procure that a limited company (in this Act referred to as the Company) conforming to the conditions laid down in the Schedule to this Act shall be formed and registered in Saorstát Eireann under the Companies Acts, 1908 to 1924.

5.—(1) The Minister may out of moneys provided by the Oireachtas lend to the Company upon such terms and conditions as to time and manner of repayment, rate of interest, security and other matters whatsoever as he shall think proper, a sum not exceeding twenty thousand pounds.

(2) Any moneys lent to the Company under this section shall be applied by the Company in or towards paying the expenses of the promotion, formation and registration of the Company and the other preliminary expenses of the Company and for no other purposes.

(3) All sums paid to the Minister by the Company in or towards repayment of any moneys lent to the Company under this section or in payment of the interest on such moneys shall be paid into the Exchequer.

6.—So long as the Minister holds not less than one-tenth of the share capital of the Company, or so long as any debentures guaranteed by the Minister under this Act are outstanding, or so long as the rate of the customs duty chargeable on sugar imported into Saorstát Eireann is higher than the rate of the excise duty chargeable on sugar manufactured in Saorstát Eireann, no issue of the share capital of the Company (other than share capital issued to subscribers of the Memorandum of Association of the Company) shall be made unless the Minister, after consultation with the Minister for Agriculture and the Minister for Industry and Commerce, has authorised such issue.

7.—The Minister may from time to time acquire by subscription any class or classes of shares of the Company, but the total amount of shares so acquired shall not exceed (in nominal value) five hundred thousand pounds.

8.—(1) Whenever the Company proposes to issue any debentures the Minister may, if he thinks fit, guarantee in such form and manner as he may think proper the due payment by the Company in accordance with the terms of such debentures of the principal moneys and interest thereon secured by such debentures.

(2) A trustee may, unless expressly forbidden by the instrument (if any) creating the trust, invest any trust funds in his hands, whether at the time in a state of investment or not, in any debentures guaranteed by the Minister under this section.

9.—(1) All moneys from time to time required to meet—

( a ) payments required to be made by the Minister to the Company in respect of any shares subscribed for by him under this Part of this Act, or

( b ) sums which become payable under any guarantee given under this Part of this Act by the Minister in respect of the moneys secured by debentures issued by the Company

shall be charged on and paid out of the Central Fund or the growing produce thereof.

(2) For the purpose of providing money for the sums charged on the Central Fund by this section the Minister may borrow from any person and the Bank of Ireland may advance to the Minister any sum or sums to meet the sums charged on the Central Fund or the growing produce thereof by this section, and for the purpose of such borrowing the Minister may create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as he shall think fit.

(3) The principal and interest of any securities issued under this section and the expenses incurred in connection with the issue of such securities shall be charged on the Central Fund or the growing produce thereof.

(4) Any money raised by securities issued under this section shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which such Fund is available.

10.—All dividends, bonus and other moneys received by the Minister in respect of shares of the Company and all moneys recovered by the Minister in repayment of or as interest on moneys paid by the Minister under any guarantee given by him under this Part of this Act in respect of the moneys secured by debentures issued by the Company shall be paid into the Exchequer.

11.—The Minister may, so long as he holds any of the shares of the Company, exercise all or any of the rights and powers from time to time exercisable by the holder of such shares, and where such rights or powers are exercisable by attorney the Minister may, if he so thinks proper, exercise such rights or powers by his attorney.

12.—(1) The Minister may hold for so long as he thinks fit the shares of the Company subscribed for by him under this Part of this Act and may as and when he thinks fit sell all or any of such shares.

(2) The net proceeds of every sale by the Minister of shares of the Company held by him shall be paid into the Exchequer.

13.—The Minister shall, before exercising any power conferred on him by the Articles of Association of the Company in relation to the following matters, that is to say:—

( a ) the nomination of directors of the Company;

( b ) the issue of debentures by the Company,

consult with the Minister for Agriculture and the Minister for Industry and Commerce.

14.—Notwithstanding anything contained in the Companies Acts, 1908 to 1924, no alteration in the Memorandum of Association or Articles of Association of the Company which is made without the previous approval of the Minister, after consultation by him with the Minister for Agriculture and the Minister for Industry and Commerce, shall be valid and effective.

15.—(1) The Company shall within ninety days after the end of every accounting year furnish to the Minister a balance sheet for such accounting year duly audited by the auditor of the Company and also a profit and loss account for the same accounting year similarly audited.

(2) The balance sheet and profit and loss account to be furnished as aforesaid shall be drawn up in such manner as shall be prescribed by regulations made under this section, and such balance sheet shall contain (in addition to any matter required by such regulations) a summary of the capital, assets and liabilities of the Company together with such particulars as will disclose the nature of such assets and liabilities and the manner in which the value of the assets was arrived at.

(3) The Company shall on demand furnish to the Minister such explanations as the Minister shall think proper to require in respect of any balance sheet or profit and loss account furnished pursuant to this section.

(4) A copy of every balance sheet and profit and loss account furnished to the Minister pursuant to this section shall be laid by him before each House of the Oireachtas within one month after such balance sheet and profit and loss account are so furnished to him.

(5) If the Company makes default in complying with any of the provisions of this section, the Company and every director, manager, and other officer of the Company, who, knowingly and wilfully, authorised or permitted such default, shall be guilty of an offence under this section and shall be liable on summary conviction thereof to a fine not exceeding five pounds for every day during which the default continues.

(6) The Minister may by order make regulations prescribing any matter referred to in this section as prescribed by regulations made under this section.

16.—The Control of Manufactures Act, 1932 (No. 21 of 1932), shall not apply in respect of any act or thing done by the Company.

PART III SPECIAL POWERS OF THE COMPANY IN RELATION TO THE COMPULSORY ACQUISITION OF LAND, ETC., AND THE CONSTRUCTION, MAINTENANCE, AND OPERATION OF TRANSPORT WORKS.

17.—Each of the following works shall be transport works for the purposes of this Part of this Act, that is to say:—

( a ) a railway;

( b ) a tramway;

( c ) an aerial ropeway;

( d ) any other works for the transport of goods.

18.—The powers conferred on the Company by this Part of this Act shall cease to be exercisable after the expiration of five years from the passing of this Act.

19.—The Company may enter on any land for the purpose of making thereon any inquiry, investigation, or examination preliminary or incidental to the doing of any thing which the Company is authorised by this Part of this Act to do.

20.—(1) The Company may for the purposes of the business of the Company construct, maintain and operate such transport works as it thinks fit.

(2) The Company may contract, maintain, and operate its transport works on or over any public road or way.

(3) if and whenever the construction, maintenance or operation of any transport works constructed by the Company under this section might involve any injury to the public, the Minister for Industry and Commerce shall by order require the Company to do all such things in relation to such works as he may think necessary for the protection of the public and may specify in such order, and it shall be the duty of the Company to comply with the requirements of such order.

21.—(1) The Company may for the purposes of the business of the Company do all or any of the following things, that is to say:—

( a ) compulsorily acquire (either permanently or temporarily) any land;

( b ) compulsorily acquire (either permanently or temporarily) any easement, way-leave, water-right, fishing right, or other right over or in respect of any land or water.

(2) The Company may for the purposes of the construction, maintenance and operation of any transport works do either or both of the following things, that is to say:—

( a ) compulsorily acquire (either permanently or temporarily) any land;

( b ) compulsorily acquire (either permanently or temporarily) any right over or in respect of any land.

(3) At any time after the passing of this Act and before conveyance or ascertainment of compensation the Company may, subject to the provisions of this section, enter on and take possession of any land, or exercise any right which the Company is authorised by this section to acquire compulsorily.

(4) Before exercising any of the powers conferred on it by the immediately preceding sub-section, the Company shall—

( a ) in the case of the temporary acquisition of any easement, give at least fourteen days' previous notice in writing to the owner of the easement or other property affected;

( b ) in the case of the acquisition of any land, give at least one month's or, if the land is an occupied dwelling house, three months previous notice in writing to the occupier of the lands;

( c ) in any other case, give at least one month's notice in writing to the owner of the right or other property affected.

(5) Every notice under this section shall be accompanied by a plan showing fully and clearly the land or right to which the notice relates.

(6) Any notice required by this section to be given to any person shall be sufficiently given if sent by registered post in an envelope addressed to such person at his last known place of abode and shall be deemed to have been so given at the time at which such envelope would be delivered in the ordinary course of post at the place to which it is addressed.

22.—(1) Compensation shall be paid by the Company for land compulsorily acquired (whether permanently or temporarily) by the Company under sub-section (1) or sub-section (2) of the immediately preceding section to the several persons entitled thereto or having estates or interests therein, and for or in respect of easements, way-leaves, water-rights, fishing rights, and other rights compulsorily acquired (whether permanently or temporarily) under sub-section (1) of the said section to the owner thereof or the several persons entitled to or having estates or interests in the land over or in respect of which such rights are so acquired, and for or in respect of rights over or in respect of any land compulsorily acquired (whether permanently or temporarily) under sub-section (2) of the said section to the owner thereof or the several persons entitled to or having estates or interests in such land, and such compensation shall, in default of agreement, be fixed by an official arbitrator under and in accordance with the Acquisition of Land (Assessment of Compensation) Act, 1919.

(2) All claims for compensation in respect of any land or right compulsorily acquired under this Part of this Act shall be made within one year after such land is first entered on or such right is first exercised by the Company.

(3) Sections 69 to 83 of the Lands Clauses Consolidation Act, 1845, shall apply to any compensation payable by the Company under this section and to the conveyance to the Company of property, corporeal or incorporeal, compulsorily acquired by it under this Part of this Act, and for the purpose of such application the Company shall be deemed to be the promoter of the undertaking.

SCHEDULE

CONDITIONS TO WHICH THE COMPANY IS TO CONFORM.

1. The Memorandum and Articles of Association of the Company shall be subject to the approval of the Minister after consultation by him with the Minister for Agriculture and the Minister for Industry and Commerce.

2. The Memorandum of Association of the Company shall provide—

( a ) that the name of the Company shall be Cómhlucht Siúicre Eireann, Teoranta;

( b ) that the registered office of the Company shall be situate in Dublin;

( c ) that the principal objects of the Company shall include the acquisition, erection, and operation of sugar factories in Saorstát Eireann;

( d ) that the liability of the members of the Company shall be limited;

( e ) that the amount of the share capital of the Company shall be two million pounds divided into two million shares of one pound each, and that the Company shall, with the consent of the Minister, have power to divide the shares in the capital of the Company into several classes and to attach thereto respectively any preferential, deferred, qualified or special rights, privileges or conditions.

3. The Articles of Association of the Company shall provide—

( a ) that the number of directors of the Company shall be seven;

( b ) that, so long as the Minister holds not less than one-tenth of the share capital of the Company, or so long as any debentures of the Company guaranteed by the Minister under this Act are outstanding, or so long as the rate of the customs duty chargeable on sugar imported into Saorstát Eireann is higher than the rate of the excise duty chargeable on sugar manufactured in Saorstát Eireann, four of the directors of the Company shall be nominated by the Minister;

( c ) that there shall be a managing director of the Company, and, subject to the next following sub-paragraph, the directors of the Company shall from, time to time appoint one of their body to be managing director of the Company;

( d ) that the first managing director of the Company shall be such one of the directors of the Company as the Minister may appoint and shall hold the office of managing director for such period, on such terms and subject to such conditions as the Minister may direct;

( e ) that the Company shall have power for the purposes of the Company to raise money by means of debentures, subject however as follows:—

(i) the amount so raised shall not exceed at any time the paid up share capital of the Company, and

(ii) the said power shall not, so long as the Minister holds not less than one-tenth of the share capital of the Company, or so long as any debentures of the Company guaranteed by the Minister under this Act are outstanding, be exercised without the consent of the Minister;

( f ) that, so long as the Minister holds not less than one-tenth of the share capital of the Company, or so long as any debentures of the Company guaranteed by the Minister under this Act are outstanding, or so long as the rate of the customs duty chargeable on sugar imported into Saorstát Eireann is higher than the rate of the excise duty chargeable on sugar manufactured in Saorstát Eireann, no person shall be capable of being appointed auditor of the Company unless the approval of the Minister to the nomination of such person to the office of auditor has been given.