Approved Investments (Amendment) Act, 1935

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Number 31 of 1935.

APPROVED INVESTMENTS (AMENDMENT) ACT, 1935.

ARRANGEMENT OF SECTIONS

Number 31 of 1935.

APPROVED INVESTMENTS (AMENDMENT) ACT, 1935.

AN ACT TO AMEND THE APPROVED INVESTMENTS ACT, 1933 , BY EXTENDING CERTAIN LIMITING PERIODS MENTIONED THEREIN AND BY MAKING PROVISION FOR FURTHER EXTENSIONS OF ALL OR ANY OF SUCH PERIODS. [2nd August, 1935.]

BE IT ENACTED BY THE OIREACHTAS OF SAORSTÁT EIREANN AS FOLLOWS:—

Definitions.

1.—In this Act,

the expression “the Principal Act” means the Approved Investments Act, 1933 (No. 34 of 1933);

the expression “the Minister” means the Minister for Finance.

Extension of periods in sections 6 and 7 of the Principal Act.

2.—The period of two years from the passing of the Principal Act mentioned in sub-section (1) of section 6 of the Principal Act, and the like period mentioned in sub-section (2) of the said section 6 , and the like period mentioned in sub-section (1) of section 7 of the said Act are hereby severally extended by two years, and for that purpose the said sub-sections (1) and (2) of the said section 6 and sub-section (1) of the said section 7 are hereby severally amended by the substitution of the words “four years” for the words “two years” wherever the latter words occur in those sub-sections respectively, and the said sections 6 and 7 shall be construed and have effect accordingly.

Extension of period in section 9 of the Principal Act.

3.—The period of two years and six months from the passing of the Principal Act mentioned in sub-section (3) of section 9 of the Principal Act is hereby extended by two years, and for that purpose the said sub-section (3) of the said section 9 is hereby amended by the substitution of the words “four years and six months” for the words “two years and six months” now contained in the said sub-section, and the said section 9 shall be construed and have effect accordingly.

Provision for further extensions of periods in the Principal Act.

4.—(1) The Minister may, whenever and so often as he shall think proper, by order made after consultation with the Chairman of the Investments Advisory Committee extend by such period as he shall think fit and shall specify in such order all or any of the following periods, that is to say, the several periods of four years from the passing of the Principal Act respectively mentioned in sub-sections (1) and (2) of section 6 and sub-section (1) of section 7 of the Principal Act as amended by this Act, and the period of four years and six months from the passing of the Principal Act mentioned in sub-section (3) of section 9 of the Principal Act as amended by this Act.

(2) Whenever the Minister makes an order under this section extending any of the periods mentioned in the foregoing sub-section of this section, the sub-section of the Principal Act (as amended by this Act) in which such period is mentioned shall be construed and have effect as if the said period as extended by such order were substituted in such sub-section (as so amended) for the period actually mentioned therein.

Short title.

5.—This Act may be cited as the Approved Investments (Amendment) Act, 1935.