Number 3 of 1959.

IRISH SHIPPING LIMITED (AMENDMENT) ACT, 1959.

ARRANGEMENT OF SECTIONS

Number 3 of 1959.

IRISH SHIPPING LIMITED (AMENDMENT) ACT, 1959.

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

1. —(1) In this Act “the Principal Act” means the Irish Shipping Limited Act, 1947 .

(2) This Act shall be construed as one with the Principal Act.

2. —Subsection (1) of section 2 of the Principal Act (which imposes a limit of £5,000,000 on the capital of the Company) is hereby amended by the substitution of “£12,000,000” for “£5,000,000”.

3. —Subsection (2) of section 9 of the Principal Act (which imposes a limit of £2,000,000 on the guarantee by the Minister of the repayment of moneys borrowed by the Company) is hereby amended by the substitution of “£5,000,000” for “£2,000,000”.

4. —Section 10 of the Principal Act (which authorises the payment of subsidies to the Company) is hereby repealed.

5. —(1) This Act may be cited as the Irish Shipping Limited (Amendment) Act, 1959.

(2) The Principal Act and this Act may be cited together as the Irish Shipping Limited Acts, 1947 and 1959.