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19 1958

TRANSPORT ACT, 1958

PART III.

Finance.

Grants to Board.

10. —(1) The Minister shall, out of moneys provided by the Oireachtas, make to the Board in the financial year beginning on the 1st day of April, 1959, and in each of the next four financial years an annual grant of £1,000,000.

(2) The Board shall utilise such payments so far as may be necessary to defray the interest on its transport stock and may apply the balance for the purposes of its undertaking in such manner as it thinks fit.

(3) The provision for payment of interest made by subsection (2) is without prejudice to the continued operation of subsection (3) of section 30 of the Act of 1950.

C.I.E. 3% Transport Stock, 1955-60, to be a Government loan.

11. —(1) The Minister for Finance shall be liable, to the exclusion of the Board, for the due payment of the principal, amounting to £9,889,083 of the Board's 3% Transport Stock, 1955-60 and that Stock shall be a Government loan for the purposes of the Government Loans (Conversion) Act, 1951 .

(2) All moneys required for the due payment by the Minister for Finance of the principal of the stock referred to in subsection (1) shall be paid out of the Central Fund or the growing produce thereof.

(3) For the purpose of providing for payments out of the Central Fund under subsection (2), the Minister for Finance may borrow from any person any sum or sums, and for the purpose of such borrowing he may create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption or any other matter as he thinks fit, and shall pay the moneys so borrowed into the Exchequer.

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

(5) The Minister for Finance shall pay from the Central Fund to the Board the amounts necessary to defray the interest due from time to time after the 1st day of April, 1959, on the stock referred to in subsection (1) and the Board shall apply such moneys to the payment of the amounts due to the holders of that stock.

(6) All moneys required for the purpose of making the payments from the Central Fund referred to in subsection (5) shall be charged on the Central Fund and the growing produce thereof.

Release of Board from liability to repay advances of £5,623,400 for transport stock interest and temporary borrowing.

12. —(1) The Board shall not be liable to repay to the Central Fund the sum of £5,623,400, being the total of advances made under subsection (3) of section 30 of the Act of 1950 up to the 31st day of March, 1958, to meet sums payable by the Minister for Finance under guarantees given by him under that section (comprising £4,820,400 in respect of interest on transport stock and £803,000 in respect of temporary borrowing) nor shall the Board be liable to pay interest in respect of any period after that date on such advances; and subsections (6) and (8) of the said section are modified accordingly.

(2) The said sum of £803,000 shall, for the purposes of paragraph (b) of subsection (1) of section 30 of the Act of 1950, as amended by section 3 of the Act of 1955, be deemed to have been repaid by the Board.

Repayable advances of £1,000,000 for capital expenditure to be treated as non-repayable grant.

13. —The sum of £1,000,000, being the total of repayable advances to the Board for capital expenditure which, having been included in a Supplementary Estimate approved by Dáil Éireann on the 25th day of July, 1956, were granted by the Central Fund Act, 1957 , and appropriated for that purpose by the Appropriation Act, 1957 , shall be treated as a non-repayable grant from the 1st day of April, 1958.

Compensation of employees whose services are dispensed with or conditions worsened.

14. —(1) Whenever the Board ceases to provide or permanently reduces any transport service by rail or inland waterway or substitutes diesel for steam traction or whenever an order is made under section 9 in relation to a specified level crossing and as a consequence thereof the Board, within five years after the passing of this Act, either dispenses with the services of an officer or servant of the Board or transfers him to another position in its service the provisions of this section shall have effect.

(2) This section applies only to an officer or servant who at the date of his dismissal or transfer was employed in a permanent capacity or who was, except for casual interruptions of employment, employed by the Board during the whole of the preceding three years.

(3) If the Board dispenses with his services he shall be paid by the Board compensation calculated in accordance with the Second Schedule.

(4) If he is transferred to another position and thereby suffers a worsening of his conditions of service, within the meaning of section 37 of the Act of 1950, as an officer or servant of the Board he shall be paid by the Board compensation consisting of a lump sum of such amount as is reasonable.

(5) Sections 41, 42 and 43 of the Act of 1950 (which relate to the determination of compensation under that Act) shall apply to compensation under this section.

(6) The Minister may by order extend the provisions of this section to any case in which, within five years after the passing of this Act, the services of an officer or servant are dispensed with or he is transferred to another position because of redundancy arising from any scheme for the re-organisation and more economical operation of any department of the undertaking affecting any section or category of workers, and may by order amend any such order.

Grants in respect of compensation.

15. —(1) The Minister, with the consent of the Minister for Finance, may, out of moneys provided by the Oireachtas, from time to time during any financial year make such grants to the Board as he thinks proper towards the cost of compensation under section 14.

(2) If the total of such grants is less than the amount certified by the Board's auditors as having been duly paid in compensation in that financial year the Minister shall, out of moneys provided by the Oireachtas, make to the Board a grant of the amount of the deficiency.

(3) If the total of such grants is greater than the amount so certified the excess may, with the consent of the Minister, be treated as a grant in respect of the next financial year.

Restriction of existing compensation provisions.

16. —Sections 39 and 40 of the Act of 1950 and section 4 of the Act of 1955, which provide for compensation in certain cases of dismissal or transfer of officers and servants, shall not apply to a person whose services are dispensed with or who is transferred to another position after the passing of this Act.

Returns in relation to compensation.

17. —(1) The Board shall, before the 1st day of November in each year, furnish to the Minister an estimate of its expenditure in respect of compensation under section 14 in each quarter of the next following financial year.

(2) The Board shall, at the end of every quarter of a financial year, furnish to the Minister in such form as the Minister may require a return showing the amount of compensation paid in that quarter.

(3) The Board shall, as soon as may be after the end of each financial year, furnish to the Minister in such form as the Minister may require a return, certified by the Board's auditors, showing the amount of compensation paid in that year.

Amendment of section 44 of Act of 1950.

18. — Subsection (8) of section 44 (which relates to superannuation schemes) of the Act of 1950 is hereby amended by the insertion, after “under section 44 of the Act of 1944”, of “or under section 45 of that Act.”