Committee Reports > List of Committees > Dáil > 1955 > Committee of Public Accounts > Report - Appropriation Accounts 1952 - 1953

APPENDIX XVII.

ADVANCES TO MIANRAÍ, TEORANTA.

Secretary,

Committee of Public Accounts.

Vote for Industry and Commerce.

At the proceedings of the Committee on the 4th November, 1954, I undertook to furnish further particulars on the following matter:—

Paragraph 67: Advances to Mianraí, Teoranta.

The advances to Mianraí, Teoranta were made out of moneys provided by the Oireachtas in the Vote for Industry and Commerce and accordingly no question of recoupment to the Central Fund arises.

Sections 11 (2) and 12 (3) of the Minerals Exploration and Development Company Act, 1941, give power to the Minister for Industry and Commerce with the consent of the Minister for Finance to postpone or waive payment of instalments of advances and payments of interest payable by the Company. Under the powers conferred on him by these Sections the Minister for Industry and Commerce, with the consent of the Minister for Finance, has in fact agreed to the postponement to 1st April, 1955 of the payments by the Company of interest on advances and repayments of instalments of advances which fell due on 1st April, 1953, 1st October, 1953 and 1st April, 1954.

The final adjustment in respect of the outstanding advances and accrued interest will of course be the subject of a note to the relevant appropriation account.

Department of Industry and Commerce.

18 Samhain, 1954.