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Contributions by Minister to annual loan charges of housing authorities.
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14.—(1) The Minister may, with the consent of the Minister for Finance and subject to regulations made under this section, make out of moneys to be provided by the Oireachtas, during such period not exceeding fifty years as the Minister may determine, a contribution towards the annual loan charges incurred by a housing authority in respect of money borrowed by them for the provision under the Labourers Acts or under section 24 of the Act of 1950 of cottages or other housing accommodation to which this section applies—
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(a) not exceeding sixty-six and two-thirds per cent. of such annual loan charges where the Minister is satisfied that such cottages or other housing accommodation are used for the accommodation of—
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(i) persons displaced by the collapse or destruction of their former dwellings or by any of the operations of such housing authority under the Housing of the Working Classes Acts, or
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(ii) persons in need of rehousing on medical, compassionate or other similar grounds whose circumstances would not permit them to be so rehoused otherwise,
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(b) not exceeding thirty-three and one-third per cent. of such annual loan charges in any other case.
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(2) This section applies only to cottages and housing accommodation the erection or provision of which was or shall be commenced on or after the 30th day of June, 1958, and in respect of which a loan to the housing authority was or shall be sanctioned on or after that date.
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(3) Every contribution to annual loan charges made by the Minister under this section shall be paid in such manner and at such time or times as the Minister may prescribe by regulations under this section.
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(4) For the purposes of this section, the amount of any money borrowed by a housing authority for the provision under the Labourers Acts or under section 24 of the Act of 1950 of cottages or other housing accommodation to which this section applies shall be deemed not to exceed an amount calculated in such manner as may be prescribed by the Minister by regulations under this section, and the amount of the annual loan charges in respect of such money (limited as aforesaid) shall be deemed not to exceed the sums (including interest charges) which would have been payable by the housing authority in any local financial year in repayment of such money (limited as aforesaid) with interest to the Commissioners of Public Works in Ireland, if such money had been borrowed from such Commissioners.
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(5) Where a contribution has been or will be made under section 6 of the Act of 1932 towards the annual loan charges in respect of money borrowed for the provision of cottages or other housing accommodation under the Labourers Acts, a contribution shall not be made in respect of such charges under this section.
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(6) Section 13 of the Act of 1950 shall have effect as if the reference to a contribution to annual loan charges under section 6 of the Act of 1932 included a reference to contributions to annual loan charges under this section.
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(7) The Minister may make regulations for the purposes of this section.
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