No. 24/1927:

AGRICULTURAL CREDIT ACT, 1927

ARRANGEMENT OF SECTIONS

PART I PRELIMINARY

1 Short title.

2 Definitions generally.

PART II THE AGRICULTURAL CREDIT CORPORATION

3 Formation and registration of the Corporation.

4 Name and capital of the Corporation.

5 Subscription of capital of the Corporation.

6 State liability for capital of the Corporation.

7 State liability for dividends on the capital of the Corporation.

8 Memorandum of Association of the Corporation.

9 Objects of the Corporation.

10 Articles of Association of the Corporation.

11 Directors of the Corporation.

12 Limitations on the lending of money by the Corporation.

13 Limitations on receipt of deposits by the Corporation.

14 Issue of debentures by the Corporation.

15 Issue of Certificates of Charge by the Corporation.

16 Additional returns to Registrar of Companies.

17 Accounts of the Corporation.

18 Exemption from stamp duty.

19 Registration of Joint Orders of Minister for Finance and Minister for Lands and Agriculture.

20 Powers of Minister in respect of shares held by him.

21 Charge of moneys on Central Fund.

22 Offences in relation to loans by the Corporation.

PART III CHATTEL MORTGAGES

23 Definitions in relation to chattel mortgages.

24 Recognised banks.

25 Registers of chattel mortgages.

26 Operation and effect of specific chattel mortgage.

27 Operation and effect of floating chattel mortgages.

28 Priorities of chattel mortgages.

29 Disclosure of chattel mortgage to creditor.

30 Statement of existing indebtedness by intending mortgagor.

31 Effect of chattel mortgages in relation to execution orders.

32 Avoidance of bills of sale on farming stock.

SCHEDULE

AN ACT TO MAKE PROVISION FOR THE FORMATION AND REGISTRATION OF A COMPANY HAVING FOR ITS PRINCIPAL OBJECT THE GIVING OF CREDIT TO PERSONS ENGAGED IN AGRICULTURE AND BUSINESSES ANCILLARY TO AGRICULTURE, TO AUTHORISE THE GIVING OF GUARANTEES BY THE STATE IN RELATION TO THE CAPITAL OF SUCH COMPANY AND SECURITIES ISSUED BY IT, AND TO PROVIDE FOR CERTAIN OTHER MATTERS RELATING TO SUCH COMPANY, AND TO FACILITATE THE BORROWING OF MONEY BY FARMERS ON MORTGAGES OF THEIR FARMING STOCK AND TO REGULATE THE OPERATION AND EFFECT OF SUCH MORTGAGES.

[28th May, 1927.]

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