Building Societies (Amendment) Act, 1980

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Subsidy in respect of interest on loans made by society.

2.—(1) The Minister may, with the consent of the Minister for Finance and subject to such regulations as may be made by the Minister with the consent of the Minister for Finance for the purposes of this section, pay, out of moneys provided by the Oireachtas, a subsidy to a society in respect of interest payable to the society as regards any period commencing on or after the 1st day of June, 1977, on loans made by the society.

(2) In determining the amount of a subsidy paid to a society under this section regard may be had to all or any one or more of the following, that is to say:

(a) the amount of interest payable by borrowers on loans made to them by the society,

(b) the amount of interest payable by the society to shareholders in or depositors with the society,

(c) such other matters (if any) as stand for the time being prescribed under the subsection.