Transport Act, 1964

• Jurisdiction: Ireland

Number 30 of 1964
TRANSPORT ACT, 1964
ARRANGEMENT OF SECTIONS
Section 1. Definitions. 2. General duty of Board. 3. Restriction on capital expenditure by Board. 4. Advances to Board by Minister for Finance for capital purposes. 5. Borrowing by Board from Minister for Finance for capital purposes. 6. Annual grant to Board. 7. Repayable advances of £1,000,000 to Board to be treated as non-repayable grant. 8. Borrowing powers of Board. 9. Compensation for employees of Board or Óstlanna Iompair Éireann Teoranta in cases of dismissal or transfer. 10. Amendment of Fourth Schedule to Act of 1950. 11. Development of land by Board. 12. Amendment of section 35 of Act of 1950. 13. Delegates to Clearing House Committee. 14. Directors of Fishguard and Rosslare Railways and Harbours Company. 15. Expenses. 16. Repeals. 17. Short title.
SCHEDULE
Acts Referred to Transport Act, 1950 1950, No. 12. Transport Act, 1958 1958, No. 19. Transport Act, 1963 1963, No. 17. Great Northern Railway Act, 1958 1958, No. 20. Clearing Act (Ireland), 1860 1860, c. xxix. Fishguard and Rosslare Railways and Harbours Act, 1898 1898, c. cclii.
Number 30 of 1964.
TRANSPORT ACT, 1964
AN ACT TO MAKE FURTHER PROVISION IN RELATION TO TRANSPORT. [28th July, 1964.]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS :—
	Definitions.	1.—In this Act—
	“the Act of 1950” means the Transport Act, 1950 ;
	“the Act of 1958” means the Transport Act, 1958 ;
	“the Board” means Córas Iompair Éireann;
	“the Minister” means the Minister for Transport and Power.
	General duty of Board.	2.—(1) It shall be the duty of the Board to conduct its undertaking, so that, after taking into account the grant payable to the Board under section 6 of this Act, its operating expenditure, including all charges properly chargeable to revenue, shall not be greater taking one year with another than the revenue of the Board.
	(2) Nothing in this section shall be construed as imposing on the Board, either directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which it would not otherwise be subject.
	Restriction on capital expenditure by Board.	3.—The Board shall not incur any expenditure that is properly chargeable to capital unless it is satisfied that the expenditure is essential for the efficient operation of its undertaking or to enable it to carry out the general duty imposed on it by subsection (1) of section 7 of the Act of 1958 or that the project in relation to which it is proposed to incur the expenditure will be remunerative to the Board.
	Advances to Board by Minister for Finance for capital purposes.	4.—(1) The Minister for Finance may, on the recommendation of the Minister, advance from time to time to the Board such sums (not exceeding in the aggregate six million pounds) as he thinks proper towards the cost of defraying expenditure incurred by the Board which is properly chargeable to capital.
	(2) Advances under subsection (1) of this section shall be made on such terms as to repayment, interest and other matters as may be determined by the Minister for Finance.
	(3) All sums paid by the Board in repayment of an advance under this section or in pursuance of any term or condition subject to which an advance was made under this section shall be paid into or disposed of for the benefit of the Exchequer.
	(4) All moneys from time to time required by the Minister for Finance to meet sums which may become payable by him under this section shall be advanced out of the Central Fund or the growing produce thereof.
	(5) The Minister for Finance may, for the purpose of providing for the advance of sums out of the Central Fund under this section, borrow on the security of the Central Fund or the growing produce thereof any sums required for that purpose, 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 otherwise as he thinks fit, and shall pay all moneys so borrowed into the Exchequer.
	(6) The principal of and interest on all 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.
	Borrowing by Board from Minister for Finance for capital purposes.	5.—The Board may from time to time borrow from the Minister for Finance sums required by it to defray expenditure incurred by it that is properly chargeable to capital and is not prohibited by virtue of section 3 of this Act.
	Annual grant to Board.	6.—(1) Subject to subsection (2) of this section, the Minister shall in the financial year of the Board beginning on the 1st day of April, 1964, and in each subsequent financial year of the Board make to the Board, out of moneys provided by the Oireachtas, a grant of two million pounds.
	(2) The Minister may, with the concurrence of the Minister for Finance, in the financial year of the Board beginning on the 1st day of April, 1969, and in every fifth subsequent financial year of the Board by order vary the amount of the grant payable under subsection (1) of this section.
	(3) The Board shall, out of each grant to it under this section, defray the interest and sinking fund charges on the transport stock of the Board and may apply the balance of the grant for the purposes of its undertaking in such manner as it thinks fit.
	(4) Nothing in subsection (3) of this section shall operate to affect or diminish the obligation imposed by subsection (3) of section 30 of the Act of 1950 to advance out of the Central Fund or the growing produce thereof all sums required by the Minister for Finance to meet sums which may become payable under any guarantee given by him under that section.
	(5) Where an order is proposed to be made under this section, a draft of the order shall be laid before each House of the Oireachtas and the order shall not be made until a resolution approving of the draft has been passed by each such House.
	Repayable advances of £1,000,000 to Board to be treated as non-repayable grant.	7.—The sum of one million pounds, being the amount advanced to the Board by the Minister for Finance before the 1st day of April, 1964, under section 13 of the Transport Act, 1963 , shall be treated as a non-repayable grant from the said 1st day of April, 1964.
	Borrowing powers of Board.	8.—Paragraph (b) of subsection (2) (which imposes a limit on certain borrowing for capital purposes) of section 28 of the Act of 1950 is hereby amended by the substitution of “twelve million pounds” for “fifteen million pounds” (inserted by the Transport Act, 1963 ).
	Compensation for employees of Board or Óstlanna Iompair Éireann Teoranta in cases of dismissal or transfer.	9.—(1) In this section “the Company” means Óstlanna Iompair Éireann Teoranta.
	(2) Whenever the Board or the Company, on or after the 1st day of April, 1964, either dispensed with or dispenses with the services of an officer or servant of the Board or the Company, as the case may be, or transferred or transfers him to another position in its service, as a direct consequence of the Board, on or after the 1st day of April, 1963...