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Minerals Exploration and Development Company Act, 1941

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Number 13 of 1941.

MINERALS EXPLORATION AND DEVELOPMENT COMPANY ACT, 1941.

ARRANGEMENT OF SECTIONS

PART I.

Preliminary.

Section

1.

Short title.

2.

Definitions.

3.

Expenses.

PART II.

The Minerals Exploration and Development Company, Limited.

4.

Formation and registration of the Company.

5.

Name and capital of the Company.

6.

The Memorandum of Association of the Company.

7.

The Articles of Association of the Company.

8.

Alteration of Memorandum and Articles of Association of the Company.

9.

Loan to Company to pay expenses of formation.

10.

Advances by the Minister to the Company.

11.

Payment of interest on advances to the Company.

12.

Repayment of advances to the Company.

13.

Power of the Minister to require the Company to prospect.

14.

Powers of the Minister for Finance as shareholder.

15.

Obligation to hold shares in trust for the Minister for Finance.

16.

Payment of dividends, etc., into the Exchequer.

17.

Obligation to furnish balance sheets, etc., to the Minister.

PART III.

Acquisition of Existing Mining Businesses by the State.

18.

Acquisition of existing mining businesses.

19.

Acquisition of existing mining business by agreement.

20.

Notice of proposal to make mining business acquisition orders.

21.

Contents and operation of mining business acquisition orders.

22.

Compensation in respect of mining business acquisition orders.

23.

Applications for compensation in respect of mining business acquisition orders.

24.

Assessment of compensation in respect of mining business acquisition orders.

25.

Deductions from compensation of debts due to the State.

26.

Lease or licence to the Company of acquired minerals.

27.

Annual reports by the Company.

Act Referred to

Minerals Development Act, 1940

No. 31 of 1940

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Number 13 of 1941.

MINERALS EXPLORATION AND DEVELOPMENT COMPANY ACT, 1941.

AN ACT TO MAKE PROVISION FOR THE PROMOTION BY THE MINISTER FOR INDUSTRY AND COMMERCE OF A LIMITED COMPANY FOR PROSPECTING FOR AND DEVELOPING MINERALS OTHER THAN COAL, AND TO MAKE DIVERS PROVISIONS IN RESPECT OF SUCH COMPANY AND FOR MATTERS CONNECTED THEREWITH. [4th June, 1941.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—