S.I. No. 209/1965 - Vocational Education (Borrowing) (Amendment) Regulations, 1965

S.I. No. 209 of 1965.

VOCATIONAL EDUCATION (BORROWING) (AMENDMENT) REGULATIONS, 1965

I, SEOIRSE Ó COLLA, Minister for Education, in exercise of the powers conferred on me by subsection (2) of section 50 of the Vocational Education Act, 1930 (No. 29 of 1930), hereby make the following regulations :

1. These Regulations may be cited as the Vocational Education (Borrowing) (Amendment) Regulations, 1965.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to these Regulations.

3. In these Regulations " local loan " means a local loan from the local loans fund.

4. Upon the issue of a local loan (or the first instalment thereof) to a vocational education committee or wherever money is lent to a vocational education committee on the security of a mortgage, the committee shall enter in a register (which shall be kept by the committee in the form set out in the Schedule to these Regulations) the particulars in relation to the loan for which provision is made in the Register.

5. Upon the issue of a local loan (or the first instalment thereof) to a vocational education committee, the committee shall insure and keep insured against damage by fire so long as any part of the loan remains unpaid the works in respect of which the loan was obtained in such sum as the Minister may direct.

6. Paragraph 9 of the form contained in the Schedule to the Vocational Education (Borrowing) Regulations, 1931 (S.R. & O., No. 35 of 1931), is hereby amended by the deletion of " (A loan obtained from the Commissioners of Public Works will be repayable by annuity only) ".

GIVEN under my Official Seal, this 8th day of October, 1965.

GEORGE COLLEY.

Form V. 96.

SCHEDULE

.............................................Vocational Education Committee.

No.

Parties to the loan

Purposes for which loan was obtained

Amount secured by the mortgage providing for repayment of the loan (including a mortgage created by section 3 of the Local Loans Fund (Amendment) Act, 1961 )

Dates when instalments of loans received

Amount of each instalment

Repayment

Date when mortgage finally discharged

Observations

Period within which the loan is required to be repaid

Rate of interest charged on the loan

Times and manner of repayment of the loan

19 ........

EXPLANATORY NOTE

These regulations prescribe that Vocational Education Committees must keep a Register of Mortgages and must insure against fire every work in respect of which a local loan has been raised.