Local Loans Fund Act, 1935

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Issues from the fund.

4.—(1) On and after the appointed day, all issues of money for local loans (including local loans agreed to but not made before the appointed day) shall be made out of the fund.

(2) No issue of money shall be made from the fund in respect of a local loan save under and in accordance with a British Statute or an Act of the Oireachtas authorising the making of such loan.

(3) During the period beginning on the appointed day and ending on such day as shall hereafter be appointed in this behalf by statute, there may be issued from the fund in respect of local loans all such moneys as shall be required for the purposes of such loans, but the aggregate amount of the moneys so issued during the said period shall not exceed the sum of five million pounds.