Trade Loans (Guarantee) (Amendment) Act, 1953

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Number 2 of 1953.

TRADE LOANS (GUARANTEE) (AMENDMENT) ACT, 1953.

ARRANGEMENT OF SECTIONS

Number 2 of 1953.

TRADE LOANS (GUARANTEE) (AMENDMENT) ACT, 1953.

AN ACT TO AMEND AND EXTEND THE TRADE LOANS (GUARANTEE) ACTS, 1939 AND 1949. [3rd March, 1953.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

Definitions.

1.—In this Act—

“the Minister” means the Minister for Industry and Commerce;

“the Principal Act” means the Trade Loans (Guarantee) Act, 1939 (No. 5 of 1939);

“the Act of 1949” means the Trade Loans (Guarantee) (Amendment) Act, 1949 (No. 9 of 1949).

Amendment of subsection (1) of section 7 of Principal Act.

2.—Subsection (1) of section 7 of the Principal Act (which imposes a limit of one million pounds on the aggregate capital amount of loans granted or guaranteed) is hereby amended by the substitution of “one million five hundred thousand pounds” for “one million pounds”.

Fixing of date after which applications will not be entertained.

3.—(1) The Minister may, if he thinks fit so to do, publish in Iris Oifigiúil a notice stating that after a date specified in the notice he will not entertain any application for either the guarantee or the grant of a loan under the Principal Act.

(2) Where a notice has been published under this section, the Minister shall not entertain any application made after the date specified in the notice for either the guarantee or the grant of a loan under the Principal Act.

Repeal.

4.—Subsection (1) of section 2 of the Act of 1949 (which provides that a loan shall not be granted or guaranteed after the expiration of five years from the passing of that Act) is hereby repealed.

Short title and citation.

5.—(1) This Act may be cited as the Trade Loans (Guarantee) (Amendment) Act, 1953.

(2) The Principal Act, the Act of 1949 and this Act may be cited together as the Trade Loans (Guarantee) Acts, 1939 to 1953.