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5 1986

NATIONAL DEVELOPMENT CORPORATION ACT, 1986

PART III

Provisions Relating to Directors and Staff

Membership of either House of the Oireachtas or Assembly of European Communities.

22. —(1) Where a director of the Corporation is—

(a) nominated as a member of Seanad Éireann, or

(b) elected as a member of the either House of the Oireachtas or of the Assembly of the European Communities, or

(c) regarded pursuant to section 15 (inserted by the European Assembly Elections Act, 1984) of the European Assembly Elections Act, 1977 , as having been elected to such Assembly to fill a vacancy,

he shall thereupon cease to be a director of the Corporation.

(2) Where a person employed by the Corporation is—

(a) nominated as a member of Seanad Éireann, or

(b) elected as a member of either House of the Oireachtas or of the Assembly of the European Communities, or

(c) regarded pursuant to section 15 (inserted by the European Assembly Elections Act, 1984) of the European Assembly Elections Act, 1977 , as having been elected to such Assembly to fill a vacancy,

he shall thereupon stand seconded from employment by the Corporation and shall not be paid by, or be entitled to receive from, the Corporation any remuneration or allowances in respect of the period commencing on such nomination or election or when he is so regarded as having been elected, as the case may be, and ending when he ceases to be a member of either such House or such Assembly.

(3) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein or who is a member of the Assembly of the European Communities shall, while he is so entitled or is such a member, be disqualified from becoming a director of the Corporation or from employment in any capacity by the Corporation.

(4) Without prejudice to the generality of subsection (2), that subsection shall be construed as prohibiting the reckoning of a period therein mentioned as service with the Corporation for the purpose of any pensions, gratuities or other allowances payable on retirement or death.

Disqualification of certain persons from becoming directors.

23. —A person who—

(a) has been adjudged bankrupt,

(b) has been convicted of any indictable offence involving fraud or dishonesty, whether in connection with a company or not, or

(c) is subject to an order under section 184 of the Companies Act, 1963 ,

shall be disqualified from becoming or from being a director of the Corporation.

Superannuation of officers and servants.

24. —(1) As soon as conveniently may be after the vesting day, the Corporation shall prepare and submit to the Minister for his approval a contributory scheme or schemes for the granting of pensions, gratuities and other allowances on retirement or death to or in respect of such officers or servants of the Corporation as it may think fit.

(2) The Corporation may, at any time, prepare and submit to the Minister a scheme amending or revoking a scheme under this section.

(3) Where a scheme is submitted to the Minister pursuant to this section, the Minister may, with the concurrence of the Minister for the Public Service, approve the scheme.

(4) A scheme submitted to the Minister under this section shall, if approved of by the Minister with the concurrence of the Minister for the Public Service, be carried out by the Corporation in accordance with its terms.

(5) A scheme submitted and approved of under this section shall fix the time and conditions of retirement for all persons to or in respect of whom pensions, gratuities, or allowances on retirement or death are payable under the scheme, and different times and conditions may be fixed in respect of different classes of persons.

(6) If any dispute arises as to the claim of any person to, or the amount of, any pension, gratuity or allowance payable pursuant to a scheme under this section, such dispute shall be submitted to the Minister who shall refer it to the Minister for the Public Service, whose decision shall be final.

(7) No pension, gratuity or other allowance shall be granted by the Corporation on the resignation, retirement or death of an officer or servant of the Corporation otherwise than in accordance with a scheme under this section.

(8) Every scheme submitted and approved of under this section shall be laid before each House of the Oireachtas as soon as may be after it is approved of and if either House, within the next twenty-one days on which that House has sat after the scheme is laid before it, passes a resolution annulling the scheme, the scheme shall be annulled accordingly but without prejudice to the validity of anything previously done thereunder.

Disclosure of interest in proposed investments, contracts, etc.

25. —(1) A director of the Corporation who is either directly or indirectly interested in any industry or enterprise in which the Corporation proposes to invest or otherwise assist, any company or concern with which the Corporation proposes to make a contract, or any contract which the Corporation proposes to make—

(a) shall disclose to the Board of the Corporation the nature of such interest at the meeting of the Board of the Corporation at which the question of such investment or assistance or such contract is first considered or, if he has no such interest at that time, as soon as may be after he has acquired such interest,

(b) shall take no part in any deliberations of the Board relating to such investment, assistance or contract save to such extent as the chairman of the meeting, at which such deliberations take place, may permit, and

(c) shall not vote on a decision relating to such investment, assistance or contract.

(2) A disclosure under this section shall be recorded in the minutes of the Corporation.

(3) Where the Minister is satisfied that a director of the Corporation has failed to comply with the requirements of subsection (1), he may, if he thinks fit, remove that director from the Board of the Corporation and, in case a person is removed pursuant to this subsection, he shall thenceforth be disqualified from being a director of the Corporation.

Disclosure of information.

26. —(1) A person shall not, without the consent of the Board of the Corporation, save as otherwise provided by law, disclose any information obtained by him while performing duties as chairman, managing director, director of the Corporation or employee of, or a consultant or adviser to, the Corporation.

(2) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £800.

Staff of Corporation.

27. —(1) The directors of the Corporation shall appoint such and so many persons to be officers and servants of the Corporation as the Corporation from time to time thinks proper.

(2) An officer or servant of the Corporation shall hold his office or employment on such terms and conditions as the Corporation from time to time determines.

(3) There shall be paid by the Corporation to its officers and servants such remuneration and allowances for expenses as the Corporation thinks fit, subject to, in the case of its managing director (whether that officer is described as the managing director or otherwise), the approval of the Minister given with the consent of the Minister for the Public Service.

(4) In determining the remuneration or allowances for expenses to be paid to its officers or servants or the terms or conditions subject to which such officers or servants hold or are to hold their employment, the Corporation shall have regard either to Government or nationally agreed guidelines which are for the time being extant, or to Government policy concerning remuneration and conditions of employment which is so extant, and, in addition to the foregoing, the Corporation shall comply with any directives with regard to such remuneration, allowances, terms or conditions which the Minister may give from time to time to the Corporation with the consent of the Minister for the Public Service.