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Explanation of Acts relating to Commissioners of Public Works in Ireland as to date of advance.
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12. Whereas under the provisions of divers Acts of Parliament authorising the Commissioners of Public Works in Ireland to make loans for public and other purposes, it is provided that the repayment of the loans thereunder shall be completed, and the first instalment of such repayment made within the periods respectively therein mentioned from the date of the advance, or from the time when the first advance is made, and doubts have arisen with respect to the construction of such provisions in the case where a loan is advanced by instalments, and it is expedient to remove such doubts: Be it therefore enacted as follows:
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The period of years mentioned in any of the recited Acts as the period within which advances made thereunder by the Commissioners of Public Works are to be repaid shall, as regards each instalment of any loan advanced by the said Commissioners, either before or after the passing of this Act, be reckoned from the date of the advance of the instalment by the Commissioners.
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