|
|
Subsidy by Minister in respect of certain annual loan charges of local authorities.
|
15.—(1) The Minister may, with the consent of the Minister for Finance and out of moneys to be provided by the Oireachtas, pay to a housing authority and the commissioners of a town in respect of money to which this section applies borrowed for the purposes of the Housing of the Working Classes Acts or the Labourers Acts, a subsidy (in this section referred to as an interest subsidy) equal to the difference between the loan charges incurred in respect of such money and the loan charges on the same amount calculated at such lesser rate or rates of interest as may be determined by the Minister.
|
|
| |
(3) This section shall apply only to money borrowed from the local loans fund on or after the 5th day of May, 1948, for the provision of houses, cottages or other housing accommodation to which the Housing (Loan Charges Contributions) Regulations, 1932 to 1951, apply.
|
