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Postal and Telecommunications Services Act 1983
Provision of working capital for each company.
31.—(1) F29[Upon the request of the Minister for Public Expenditure and Reform, the] Minister for Finance shall make available as working capital—
(a) to the postal company, an amount not exceeding £10,000,000, and
(b) F30[…]
(2) Liabilities of the Minister and the companies under sections 85, 93 and 101 may, subject to the approval of the Minister and the Minister for Finance, be discharged by due account being taken of them, along with other properly reckonable amounts, in the calculation of the working capital to be made available to the companies under subsection (1).
(3) Each company shall issue to the Minister shares to the value of the working capital made available to it under subsection (1).
(4) Money required to be paid by the Minister for Finance under this section shall be advanced out of the Central Fund or the growing produce thereof.
Annotations
Amendments:
F29
Substituted (6.07.2011) by Ministers and Secretaries (Amendment) Act 2011 (10/2011), s. 64(6), in operation as per s. 1(2) and S.I. No. 401 of 2011.
F30
Repealed (9.03.1996) by Telecommunications (Miscellaneous Provisions) Act 1996 (34/1996), s. 14(1) and sch. 3 part 1, in operation as per s. 17(2).
Modifications (not altering text):
C28
Application of subs. (3) restricted insofar as it applies to the company (7.02.1997) by Telecommunications (Miscellaneous Provisions) Act 1996 (34/1996), s. 14(2) and sch. 3 part II, S.I. No. 72 of 1996, art. 3.
THIRD SCHEDULE
Repeals
Section 14
...
PART II
|
Number and Year |
Title of Act |
Extent of Repeal |
|
(1) |
(2) |
(3) |
|
No. 24 of 1983. |
Postal and Telecommunications Services Act, 1983. |
Sections 10 (3) (c) and (d), 16 (1) and (2) (a), (b), (c), (d), (f), 17, 19 (4), 21, 23, 25, 31 (3), 36 and 110 (5) in so far as they apply to the company. |