Uimhir 1 (Príobháideach) de 1961.

AN tACHT UM IONTAOBHAS UÍBH EACHACH (LEASÚ), 1961.

[An tiontú oifigiúil.]

ACHT DO LEASÚ AN IVEAGH TRUST ACT, 1903 (3 EDW 7 CAP III) TRÍ CHUMHACHTAÍ INFHEISTÍOCHTA IONTAOBHAITHE UÍBH EACHACH FAOIN ACHT SIN A LEATHNÚ. [17 Aibreán, 1961.]

Réamhrá.

DE BHRÍ go ndearnadh le hAcht a ritheadh sa seisiún Parlaiminte sa 3ú bliain den Seachtú Rí Eadbhard Caibidil iii dar teideal “An Act to amalgamate the Guinness Trust (Dublin) Fund with the Dublin Improvement (Bull Alley Area) Scheme to vest the property of the Guinness (Dublin) Trustees in the Trustees of the said scheme to change the name of such last mentioned Trustees to confer further powers on them and for other purposes” a fhoráil, i measc nithe eile, go bhféadfadh Iontaobhaithe Uíbh Eachach a thuairiscítear ansin, go dtí go gcuirfí chun feidhme é chun na gcuspóirí agus na gcríocha atá leagtha amach san Acht sin, aon airgead a bheidh ar láimh acu a infheistiú ó am go ham ar na hurrúis a shonraítear san Acht sin i dteannta aon urrúis a bheadh údaraithe de thuras na huaire le dlí mar infheistíochtaí le haghaidh cistí iontaobhais agus cumhacht a bheith acu na hinfheistíochtaí sin a athrú ina n-infheistíochtaí eile, nó a mhalairtiú ar infheistíochtaí eile, den chineál céanna nó de chineál dá samhail;

AGUS DE BHRÍ gur oiriúnach, d'fhonn cistí an Iontaobhais a bhainistí níos fearr agus chun luach a infheistíochtaí agus toradh a infheistíochtaí a chothabháil, agus a mhéadú más féidir sin, de réir chlaonta geilleagracha agus chumhachta ceannaigh airgid, go méadófaí ar an gcumhacht infheistíochta sin agus chuige sin go leasófaí an tAcht sin mar a fhoráiltear anseo ina dhiaidh seo;

AGUS DE BHRÍ nach féidir an leasú sin a dhéanamh gan údarás ón Oireachtas.

ACHTAÍTEAR AR AN ÁBHAR SIN AG AN OIREACHTAS MAR LEANAS:—

Míniú.

1. —San Acht seo mura n-éilíonn an comhthéacs a mhalairt—

ciallaíonn an abairt “an Príomh-Acht” an Iveagh Trust Act, 1903 (3 Edw 7 Cap iii).

Cumhachtaí infheistíochta Iontaobhaithe Uíbh Eachach a leasú.

2. —Leasaítear leis seo alt 11 den Phríomh-Acht trí na focail go léir atá ann ó “Fifth”, agus “Fifth” a áireamh, síos go dtí deireadh an ailt a scriosadh as agus trí na focail seo a leanas a chur isteach san alt sin, in ionad na bhfocal a scriostar amhlaidh, agus forléireofar an t-alt sin agus beidh éifeacht aige dá réir sin, is é sin le rá:

“Fifth. And the residue (if any) in the hands of the Iveagh Trustees or under their control after the purposes aforesaid shall have been satisfied and fulfilled shall be retained by them to be used and applied at their discretion for the purposes of the Iveagh Trust and the Iveagh Trustees may from time to time pending application to the objects and purposes aforesaid invest any moneys in their hands on the following securities in addition to any securities for the time being authorised by law in the State as investments for Trust funds and may vary such investments into or for others of the same or a like nature:—

(a) On any of the loans or securities by which any part of the original capital handed over and transferred to the Guinness (Dublin) Trustees by Baron Iveagh is represented at the passing of this Act;

(b) On any debentures, debenture stock or guaranteed or preference or ordinary stock or shares of any public company either incorporated within the State or which at the time of the purchase of such stocks or shares maintains within the State a register of its shareholders resident within the State, provided that:

(i) such stock or shares (other than stock or shares of a bank or insurance company) are fully paid; and

(ii) such company has an issued share capital of which not less than £500,000 has been paid up, or, being a bank or insurance company of which not less than £300,000 has been paid up; and

(iii) such company has during each of the five years immediately preceding such purchase paid on its ordinary share capital a dividend at the rate of not less than 5% per annum; and

(iv) the ordinary stock or shares of such company are quoted on the Dublin Stock Exchange;

(c) On the purchase of freehold or leasehold lands in the State provided that in the case of leasehold lands such lands are at the date of the purchase held under a lease with an unexpired term of at least sixty years;

(d) On any mortgages, charges or other hypothecations at interest on the security of any investments or property of the nature hereinbefore set out;

(e) On deposit with any bank in the State.

Provided always that not less than thirty-five per cent. of the said moneys shall at any one time be invested in securities for the time being authorised by law in the State for the investment of trust funds.”

Gearrtheideal agus comhlua.

3. —(1) Féadfar chun gach críche an tAcht um Iontaobhas Uíbh Eachach (Leasú), 1961 , a ghairm den Acht seo.

(2) Féadfar na hAchtanna um Iontaobhas Uíbh Eachach 1899 go 1961 a ghairm den Acht seo agus de na Iveagh Trust Acts 1899 and 1903 le chéile.