STEEL LIMITED (AMENDMENT) ACT, 1983

Short title and collective citation.

Short title and collective citation.

1

1.—(1) This Act may be cited as the Irish Steel Limited (Amendment) Act, 1983.

(2) The Irish Steel Holdings Limited Acts, 1960 to 1982, and this Act may be cited together as the Irish Steel Limited Acts, 1960 to 1983 and shall be construed together as one Act.

Amendment of Section 9 of Irish Steel Holdings Limited Act, 1960.

Amendment of Section 9 of Irish Steel Holdings Limited Act, 1960.

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2.—Section 9 of the Irish Steel Holdings Limited Act, 1960 (which imposes a limit of £75,000,000 on the guarantee by the Minister of the repayment of moneys borrowed by the Company) is hereby amended by the substitution in subsection (3) of “£100,000,000” for “£75,000,000” (inserted by section 4 of the Irish Steel Holdings Limited (Amendment) Act, 1982), and the said subsection, as so amended, is set out in the Table to this section.

TABLE

(3) The Minister shall not so exercise the powers conferred by subsections (1) and (2) of this section that the amount, or the aggregate amount, of principal which he may at any one time be liable to repay on foot of any guarantee or guarantees under those subsections for the time being in force, together with the amount of principal (if any) which the Minister has previously paid on foot of any such guarantees and has not been repaid by the Company, exceeds £100,000,000.