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IMEACHTAÍ AN CHOMHCHOISTE.PROCEEDINGS OF THE JOINT COMMITTEE.Dé Céadaoin, 4 Eanáir, 1961.Wednesday, 4th January, 1961.1. Chruinnigh an Coiste ar 11 a.m. 2. Comhaltaí i Láthair. Bhí na comhaltaí seo a leanas i láthair:— An Teachta Suatman (i gCeannas), Rúnaí Parlaiminte an Aire Dlí agus Cirt, an Teachta Sheldon agus na Seanadóirí Ó Coigligh, Ó Riain agus de Stanfort. 3. Láithriú thar ceann na dtionscnóirí. Láithrigh A. Denis Pringle, A.S., Weldon R. Parke, B.L., agus Messrs. Fred Sutton & Co., Gníomhairí Parlaiminte, thar ceann na dTionscnóirí, Iontaobhaithe Uíbh Eachach. 4. Tuarascáil ón Aire Airgeadais. Léadh tuarascáil ar an mBille ón Aire Airgeadais. 5. Tacaíocht leis an Réamhrá. Éisteadh A. Denis Pringle, A.S., agus Weldon R. Parke, B.L., ag tacú le Réamhrá an Bhille agus ghlaodar finnéithe. 6. Ceistiú Finnéithe. Rinneadh Charles King Mill, Iontaobhaí; Archibald Edward Thompson, Rúnaí, Iontaobhas Uíbh Eachach; agus T.A.V. Fitzherbert, Stocbhróicéir, a chur faoi mhionn agus a scrúdú. Folmhaíodh an seomra. 7. Rinne an Coiste breithniú. 8. Miontuairiscí ar an bhFianaise. Ordaíodh: Gan an fhianaise a chlóbhualadh, de bhun Buan-Ordú 80 (Gnó Príobháideach). 9. Breithniú an Bhille. Bhreithnigh an Coiste an Bille. (i) An Réamhrá. Tairgeadh leasú: “In page 2, line 22, before ‘it’ to insert the following:— ‘for the purpose of the better management of the funds of the Trust and to maintain, and if possible increase, the value of its investments and the yield of such investments in accordance with economic trends and the purchasing power of money’.” Aontaíodh an leasú. Cruthaíodh an Réamhrá, mar a leasaíodh. (ii) Aontaíodh alt 1. (iii) Alt 2. Tairgeadh leasú: “In page 2, line 44, to delete ‘Ireland’ and substitute ‘the State’.” Aontaíodh an leasú. Tairgeadh leasú: “In page 3, to delete lines 7 and 8.” Aontaíodh an leasú. Tairgeadh leasú: “In page 3, to delete lines 9 to 21 inclusive and substitute:— ‘( ) 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.”’ Aontaíodh an leasú. Tairgeadh leasú: “In page 3, line 22, to delete ‘Ireland’ and substitute ‘the State’.” Aontaíodh an leasú. Tairgeadh leasú: “In page 3, line 23, to delete ‘or Great Britain’ and substitute ‘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;’.” Aontaíodh an leasú. Tairgeadh leasú. “In page 3, line 27, to delete ‘Ireland or Great Britain’ and substitute ‘the State’.” Aontaíodh an leasú. Tairgeadh leasú: “In page 3, line 29, to delete ‘either’.” Aontaíodh an leasú. Tairgeadh leasú: “In page 3, line 30, to delete ‘Ireland’ and substitute ‘the State’.” Aontaíodh an leasú. Tairgeadh leasú: “In page 3, lines 31 and 32, to delete ‘or on deposit with any bank in Ireland or Great Britain’.” Aontaíodh an leasú. Aontaíodh an t-alt, mar a leasaíodh. (iv) Aontaíodh alt 3. (v) Aontaíodh an Teideal. 10.Tuarascáil an Choiste. Chuir an Cathaoirleach (An Teachta Suatman) Dréacht - Tuarascáil faoi bhráid an Choiste, léadh í den chéad agus den dara huair agus ritheadh í mar a leanas:— 1. The Joint Committee reports that it has examined the Preamble of the Bill and, to indicate the reason for the extension of the investment powers, has amended the second paragraph thereof (lines 22 to 24 inclusive) to read as follows:— AND WHEREAS for the purpose of the better management of the funds of the Trust and to maintain, and if possible increase, the value of its investments and the yield of such investments in accordance with economic trends and the purchasing power of money it is expedient that the said power of investment should be extended and that for that purpose the said Act should be amended in the manner hereinafter provided. It has found the allegations contained in the Preamble, as amended, proved to its satisfaction. 2. The Committee has gone through the Bill and has made amendments thereto for the purpose of (i) bringing it more into accord with public policy as regards the investment of trust funds, (ii) limiting the Trustees to securities of large and strong undertakings and (iii) confining the purchase of leaseholds to those with a suitably long unexpired term to run. 3. In going through the Bill the Committee had before it, and considered, a report from the Minister for Finance. It has given effect to the recommendations contained in that report. Ordaíodh: Tuairisciú don dá Theach dá réir sin. 11. Críochnú Gnó. Críochnaíodh gnó an Choiste ar 12.55 p.m. |
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