Agricultural Credit Act, 1947

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Number 14 of 1947.

AGRICULTURAL CREDIT ACT, 1947.

ARRANGEMENT OF SECTIONS

Preliminary and General.

Section
1.	Short title and collective citation.
2.	General definitions and interpretation.
3.	Definitions of “agriculture” “farmer” and “farm”.
4.	Repeals.

PART II.

The Corporation.

5.	Definitions for purposes of Part II.
6.	Appointed day.
7.	Decrease of capital of the Corporation and cancellation of existing shares.
8.	Payments to holders (other than the Minister) of existing shares in lieu thereof.
9.	Issue of new shares to the Minister.
10.	Provisions in relation to new shares held by the Minister.
11.	Payment into the Exchequer of dividends, etc., on new shares.
12.	Directors of the Corporation.
13.	Borrowing powers.
14.	Lending powers of the Corporation.
15.	Restrictions on activities of co-operative societies owing money to the Corporation.
16.	Restrictions on the discounting and purchasing of negotiable instruments by the Corporation.
17.	Non-application of certain provisions of Companies Acts, 1908 to 1924.
18.	Alteration of memorandum and articles of association of the Corporation.
19.	Furnishing of accounts and information.
20.	Provisions of Part II to override the Companies Acts and the Acts.

PART III.

Chattel Mortgages.

21.	Definitions for purposes of Part III.
22.	Effect of chattel mortgage charging specific stock to be purchased subsequently by means of a loan agreed to be made.
23.	Recognised banks.
24.	Registers of chattel mortgages.
25.	Operation and effect of specific chattel mortgage.
26.	Seizure of stock comprised in a specific chattel mortgage at the instance of the mortgagee.
27.	Power of mortgagee to take an inventory of stock the subject of a chattel mortgage.
28.	Operation and effect of floating chattel mortgages.
29.	Conversion of floating chattel mortgage into a specific chattel mortgage.
30.	Effect of chattel mortgages in relation to distraints.
31.	Effect of chattel mortgages in relation to execution orders.
32.	Priorities of chattel mortgages.
33.	Disclosure of chattel mortgage to creditor.
34.	Statement of existing indebtedness by intending mortgagor.
35.	Avoidance of bills of sale of stock.
36.	Application of Part III to chattel mortgages under the Principal Act.

PART IV.

Charges on Land in Favour of the Corporation.

Chapter I.

Preliminary.

37.	Definitions for purposes of Part IV.
38.	Application of Part IV to existing charges on land in favour of the Corporation.

Chapter II .

Registered land.

39.	Priority of certain charges in favour of the Corporation on registered land.
40.	Rights of persons having equitable interests against registered land subject to priority charges which are not permanent improvement charges.
41.	Protection of minors and persons of unsound mind in respect of priority charges on registered land which are not permanent improvement charges.

Chapter III .

Unregistered land.

42.	Priority of certain charges in favour of the Corporation on unregistered land.
43.	Lodgment of cautions by puisne claimants against unregistered land.
44.	Rights of puisne claimants against unregistered land subject to priority charges which are not permanent improvement charges.
45.	Protection of minors and persons of unsound mind in respect of priority charges on unregistered land which are not permanent improvement charges.
46.	Lodgment of cautions by the Corporation.

Chapter IV.

Miscellaneous Provisions in relation to charges on land.

47.	Charges by tenants for life.
48.	Charges by personal representatives.
49.	Sales by Corporation under priority charges.
50.	Sale by Land Commission of land subject to a charge in favour of the Corporation.
51.	Charges by evicted tenants.
52.	Adaptation of references in other enactments to permanent improvement charges.

PART V.

Miscellaneous Provisions.

53.	Evidence of indebtedness to the Corporation.
54.	Cesser of power of Commissioners of Public Works in Ireland to make loans for certain purposes.
55.	Appointment to situations in the Corporation.

SCHEDULE.

Acts Referred to
Agricultural Credit Act, 1928	No. 22 of 1928
Agricultural Credit Act, 1929	No. 30 of 1929
Agricultural Credit Act, 1927	No. 24 of 1927
Enforcement of Court Orders Act, 1926	No. 18 of 1926
Enforcement of Court Orders Act, 1940	No. 23 of 1940
Court Officers Act, 1945	No. 25 of 1945
Land Act, 1933	No. 38 of 1933
Local Loans Fund Act, 1935	No. 11 of 1935
Registration of Title Act, 1942	No. 26 of 1942
Local Loans Fund Act, 1935	No. 16 of 1935
Land Act, 1927	No. 19 of 1927
Local Authorities (Officers and Employees) Act, 1926	No. 39 of 1926

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Number 14 of 1947.

AGRICULTURAL CREDIT ACT, 1947.

AN ACT TO PROVIDE FOR THE REORGANISATION OF THE SHARE CAPITAL OF THE AGRICULTURAL CREDIT CORPORATION, LIMITED, TO PROVIDE FOR CERTAIN OTHER MATTERS RELATING TO THE SAID CORPORATION, TO CONSOLIDATE WITH AMENDMENTS THE PROVISIONS OF THE AGRICULTURAL CREDIT ACTS, 1927 TO 1929, RELATING TO CHATTEL MORTGAGES AND TO CHARGES ON LAND IN FAVOUR OF THE SAID CORPORATION, AND TO PROVIDE FOR CERTAIN OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [27th May, 1947.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

Agricultural Credit Act, 1947 Permanent Page URL

Agricultural Credit Act, 1947

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