Industrial Development Act, 1986
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Grants to the Authority. [1969, s. 17; 1975 (No. 2), s. 2; 1977, s. 5; 1981, s. 2] |
14.—(1) In each financial year there may be paid by the Minister to the Authority out of money provided by the Oireachtas grants of such amounts as the Minister, with the consent of the Minister for Finance, may sanction to enable the Authority— | |
(a) to meet its administration and general expenses, and | ||
(b) to discharge the obligations or liabilities incurred by the Authority under this Act or any repealed enactment or otherwise. | ||
(2) The aggregate amount of grants made by the Minister to the Authority under subsection (1) (b) (other than grants to which subsection (3) applies) shall not exceed £700,000,000. | ||
(3) The aggregate amount of grants made by the Minister to the Authority to enable it to meet its obligations or liabilities arising from guarantees under this Act, section 37 of the Industrial Development Act, 1969 and sections 2 and 3 of the Industrial Development Act, 1977 in respect of principal and interest shall not exceed £125,000,000. | ||
(4) In relation to a guarantee under this Act in money in a currency other than the currency of the State the amount of the guarantee shall be no greater than the equivalent in currency of the State, at the time of the giving of the guarantee, of the amount so guaranteed. |