Industrial Credit (Amendment) Act, 1977
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Number 20 of 1977 | ||||||||||||||
INDUSTRIAL CREDIT (AMENDMENT) ACT, 1977 | ||||||||||||||
ARRANGEMENT OF SECTIONS | ||||||||||||||
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Number 20 of 1977 | ||||||||||||||
INDUSTRIAL CREDIT (AMENDMENT) ACT, 1977 | ||||||||||||||
AN ACT TO AMEND AND EXTEND THE INDUSTRIAL CREDIT ACTS, 1933 TO 1974. [9th November, 1977] | ||||||||||||||
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: | ||||||||||||||
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Interpretation. |
1.—(1) In this Act— | |||||||||||||
“the Act of 1971” means the Industrial Credit (Amendment) Act, 1971. | ||||||||||||||
(2) The Industrial Credit Acts, 1933 to 1974, and this Act shall be construed as one Act. | ||||||||||||||
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Amendment of Schedule to Industrial Credit Act, 1933. |
2.—Paragraph 4 of the Schedule to the Industrial Credit Act, 1933 , is hereby amended— | |||||||||||||
(a) by the substitution in clause (i) of subparagraph (d) (inserted by the Act of 1971) of “£200,000,000” for “seventy-five million pounds” (inserted by the Industrial Credit (Amendment) Act, 1974 ), and | ||||||||||||||
(b) by the substitution in the said paragraph (d) of the following subparagraph for subparagraph (iii): | ||||||||||||||
“(iii) money so raised or borrowed in a currency other than the currency of the State shall be deemed to be the equivalent in the currency of the State of the actual money raised or borrowed, such equivalent representing the amount in the currency of the State of the actual money raised or borrowed, the conversion being made at the rate of exchange in operation at the time of the transaction;”. | ||||||||||||||
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Amendment of section 3 of Industrial Credit (Amendment) Act, 1958. |
3.— Section 3 of the Industrial Credit (Amendment) Act, 1958 , is hereby amended by the substitution in subsection (10) (inserted by the Act of 1971) of the following paragraph for paragraph (a): | |||||||||||||
“(a) the references to principal in subsection (3) of this section shall be taken as referring to the equivalent in currency of the State of the actual principal, such equivalent being the amount in the currency of the State of the actual principal calculated at the rate of exchange in operation at the time of the giving of the guarantee,”. | ||||||||||||||
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Power to alter Memorandum and Articles of Association of Company. |
4.—The Company shall take such steps as may be necessary under the Companies Act, 1963 , to alter the Memorandum and Articles of Association of the Company to make them consistent with the Industrial Credit Acts, 1933 to 1977. | |||||||||||||
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Short title and collective citation. |
5.—(1) This Act may be cited as the Industrial Credit (Amendment) Act, 1977. | |||||||||||||
(2) The Industrial Credit Acts, 1933 to 1974, and this Act may be cited together as the Industrial Credit Acts, 1933 to 1977. | ||||||||||||||
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