(1) Subject to sections 44, 44A (inserted by the Road Traffic Act, 1968) 45 and 46 (inserted by the Road Traffic Act, 1994) of this Act, there shall be a speed limit (which shall be known as 'the motorway speed limit') of 70 miles per hour in respect of all motorways for all mechanically propelled vehicles.
(2) The Minister may by regulations vary the speed limit standing specified in subsection (1) of this section and that subsection shall have effect in accordance with any such regulations for the time being in force.