No. 15/1965:

ELECTRICITY (SUPPLY) (AMENDMENT) ACT, 1965

ARRANGEMENT OF SECTIONS

1 Definitions.

2 Increase of total expenditure for general purposes.

3 Limitation on total expenditure for general purposes.

4 Borrowing powers for general purposes.

5 Amendment of section 3 of Act of 1954.

6 Amendment of sections 2 and 3 of Electricity (supply) (Amendment) Act, 1958.

7 Amendment of section 16 of Electricity (Supply) (Amendment) Act, 1961.

8 Amendment of section 5 of Act of 1962.

9 Short title and collective citation.

AN ACT TO AMEND AND EXTEND THE ELECTRICITY (SUPPLY) ACTS, 1927 TO 1963.

[13th July, 1965.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

1.—In this Act—

"the Act of 1954" means the Electricity (Supply) (Amendment) Act, 1954 ;

"the Act of 1962" means the Electricity (Supply) (Amendment) Act, 1962 ;

"the Board" means the Electricity Supply Board.

2.—The total expenditure of the Board for general purposes, that is to say, for capital purposes other than the electrification of rural areas, shall not exceed two hundred and twenty-five million pounds and, accordingly, subsection (1) of section 2 of the Act of 1954 shall be construed as if that sum were substituted for the sum mentioned therein.

3.—(1) For the purposes of subsections (2) and (3) of section 2 of the Act of 1954, moneys borrowed by the Board in a currency other than the currency of the State shall be deemed to be the equivalent in the currency of the State of the actual moneys borrowed, such equivalent being calculated according to the rate of exchange at the time of the borrowing of the moneys.

(2) Where—

( a ) the equivalent in currency of the State of other currency is being calculated for the purposes of subsection (1) of this section, and

( b ) the currencies having, at the time specified in that subsection, par values established under the Articles of Agreement of the International Monetary Fund include the currency of the State and the other currency,

the reference in that subsection to the rate of exchange at that time shall be taken as referring to the rate of exchange based on those values.

4.—For the purposes of subsection (1) of section 4 of the Act of 1954 "money" shall be deemed to include and always to have included money in a currency other than the currency of the State.

5.—Section 3 of the Act of 1954 is hereby amended by the insertion in subsection (1) after "such sums" of "(including sums in a currency other than the currency of the State)".

6.— Sections 2 and 3 of the Electricity (Supply) (Amendment) Act, 1958 , are hereby amended by the substitution of "forty-two million" for "thirty-seven million" (inserted by the Act of 1962) in each of those sections.

7.— Section 16 of the Electricity (Supply) (Amendment) Act, 1961 , is hereby amended by the insertion after subsection (4) of the following subsection:

"(4A) A superannuation scheme may provide for the machinery for settling any dispute that may arise as to the claim of any person to, or the amount of, any benefit payable in pursuance of such scheme."

8.—Section 5 of the Act of 1962 is hereby amended by the substitution of the following subsection for subsection (1):

"(1) Subject to subsection (2) of this section, the Minister for Finance may, on the recommendation of the Minister, and until, but only until, the time when the total expenditure of the Board for the electrification of rural areas amounts to the sum of forty-two million pounds, advance to the Board, as and when requested by the Board to do so, three-quarters of the capital expenditure incurred by the Board, whether before or after the passing of this Act, after the 17th day of April, 1962, in connecting premises to systems of distribution for electricity in rural areas to which a supply of electricity has previously been extended, and three-quarters of the capital expenditure incurred by the Board, whether before or after the passing of this Act, after the said 17th day of April, 1962, in improving systems of distribution for electricity in rural areas to which a supply of electricity has previously been extended."

9.—(1) This Act may be cited as the Electricity (Supply) (Amendment) Act, 1965 .

(2) The Electricity (Supply) Acts, 1927 to 1963, and this Act may be cited together as the Electricity (Supply) Acts, 1927 to 1965.