25 1969

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Number 25 of 1969


NATIONAL STUD ACT, 1969


ARRANGEMENT OF SECTIONS

Section

1.

Interpretation.

2.

Increase of share capital of the Company.

3.

Increase of limit on borrowing by the Company.

4.

Short title and collective citation.


Acts Referred to

National Stud Act, 1945

1945, No. 31.

National Stud Act, 1953

1953, No. 8.

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Number 25 of 1969


NATIONAL STUD ACT, 1969


AN ACT TO AMEND AND EXTEND THE NATIONAL STUD ACTS, 1945 AND 1953. [30th July, 1969.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Interpretation.

1. —(1) In this Act “the Principal Act” means the National Stud Act, 1945 .

(2) The National Stud Acts, 1945 and 1953, and this Act shall be construed together as one Act.

Increase of share capital of the Company.

2. —The share capital of the Company is hereby increased to two million pounds, and subsection (2) of section 11 of the Principal Act, as amended by section 2 of the National Stud Act, 1953 , shall accordingly have effect with the substitution of a reference to that sum for the reference to five hundred thousand pounds.

Increase of limit on borrowing by the Company.

3. —(1) The total amount borrowed under section 24 of the Principal Act and outstanding shall not exceed two hundred thousand pounds.

(2) That section shall accordingly have effect with the substitution, for the reference to one hundred thousand pounds or the amount of the authorised share capital of the Company which is unissued (whichever is the lesser), of a reference to two hundred thousand pounds.

Short title and collective citation.

4. —(1) This Act may be cited as the National Stud Act, 1969.

(2) The National Stud Acts, 1945 and 1953, and this Act may be cited together as the National Stud Acts, 1945 to 1969.