Foir Teoranta (Amendment) Act, 1973

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Number 9 of 1973

FOIR TEORANTA (AMENDMENT) ACT, 1973

ARRANGEMENT OF SECTIONS

Number 9 of 1973

FOIR TEORANTA (AMENDMENT) ACT, 1973

AN ACT TO AMEND AND EXTEND THE FOIR TEORANTA ACT, 1972. [27th June, 1973]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Definitions.

1.—In this Act—

“the Company” means Fóir Teoranta;

“the Minister” means the Minister for Finance;

“the Principal Act” means the Fóir Teoranta Act, 1972 .

Increase of Company's power to borrow.

2.—The aggregate at any one time of the borrowings (including borrowings from the Minister and borrowing for any of the purposes of the Company which are consequent upon section 19 of the Principal Act, but excluding borrowings by Taiscí Stáit Teoranta) shall not exceed £17,500,000, and, accordingly, section 12 (b) of the Principal Act shall be construed as if that sum were substituted for the sum mentioned therein.

Increase of advances by Minister.

3.—The aggregate at any one time of advances to the Company by the Minister (including advances for the purposes of any of the functions of the Company which are consequent upon section 19 of the Principal Act, but excluding advances made to Taiscí Stáit Teoranta) which have not been repaid shall not exceed £17,500,000, and, accordingly, section 13 (3) of the Principal Act shall be construed as if that sum were substituted for the sum mentioned therein.

Discharge of Company's liability to repay certain advances.

4.—Notwithstanding the provisions of section 19 of the Principal Act, the Company shall not be liable to repay advances by the Minister totalling £1,142,000 made by him to Taiscí Stáit Teoranta.

Short title and collective citation.

5.—(1) This Act may be cited as the Fóir Teoranta (Amendment) Act, 1973.

(2) The Fóir Teoranta Act, 1972 , and this Act may be cited together as the Fóir Teoranta Acts, 1972 and 1973.