Slaughter of Cattle and Sheep Act, 1934

Power of Minister to lend money for certain purposes.

41.—(1) It shall be lawful for the Minister, with the consent of the Minister for Finance, to lend, out of moneys provided by the Oireachtas, any sum or sums of money—

(a) to any person engaged in or carrying on any business to which this section applies, for the purpose of extending or developing such business, whether by the acquisition of additional premises, the installation of new or additional machinery, plant, or equipment, or in any other way whatsoever, or

(b) to any person, for the purpose of the acquisition of any then existing business to which this section applies and the subsequent extension or development of such business in any such way as aforesaid, or

(c) to any person, for the purpose of the promotion and formation of a company having amongst its objects the carrying on of a business to which this section applies.

(2) All moneys lent by the Minister under this section shall be so lent on such terms and conditions as to time and manner of repayment, rate of interest, security, and other matters as the Minister shall, with the consent of the Minister for Finance, think proper in each particular case.

(3) The terms on which money is lent by the Minister under this section may, with the consent of the Minister for Finance, include all or any of the following provisions, that is to say:—

(a) a provision for the refund by the Minister out of moneys provided by the Oireachtas, to the person to whom or the company for the promotion and formation of which such money is so lent of statutory fees thereafter becoming payable by such person or company;

(b) a provision requiring or empowering the Minister to purchase, either at any time or in specified circumstances, all or any part of the issued share capital of a company for the promotion and formation of which such money is so lent;

(c) a provision whereby the Minister agrees to supply cattle, either free of charge or on specified terms, to the person to whom or the company for the promotion and formation of which such money is so lent.

(4) All moneys received by the Minister in repayment of moneys lent by him under this section or in payment of interest on or otherwise in relation to any such moneys shall be paid into or disposed of for the benefit of the Exchequer by the Minister in such manner as the Minister for Finance shall direct.

(5) Whenever the Minister has lent any money under this section it shall be lawful for the Minister to do all or any of the following things, that is to say:—

(a) with the consent of the Minister for Finance, to vary in any manner by agreement all or any of the terms and conditions on which such money was so lent;

(b) with the consent aforesaid, to compound for or wholly release all or any part of such moneys or of any interest or other payment payable on or in relation to such moneys;

(c) to take such steps (including legal proceedings) as the Minister may think proper to compel payment of or to recover all or any part of such moneys or of any interest or other payment payable on or in relation to such moneys or to enforce compliance with any term or condition on which such moneys were so lent.

(6) Whenever the Minister lends money under this section, he shall, within one month after making such loan, cause to be published in the Irish Oifigiúil a notice stating the fact of the making of such loan and also stating all material particulars of such loan.

(7) This section applies to any business of manufacturing or preparing for human consumption or for any other purpose any marketable product from the carcases, offals, or other parts, edible or inedible, of cattle and sheep or either of them.