Local Loans Fund (Amendment) Act, 1987
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Number 19 of 1987 |
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LOCAL LOANS FUND (AMENDMENT) ACT, 1987 |
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ARRANGEMENT OF SECTIONS |
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Number 19 of 1987 |
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LOCAL LOANS FUND (AMENDMENT) ACT, 1987 |
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AN ACT TO EMPOWER THE MINISTER FOR FINANCE TO WAIVE REPAYMENT OF LOANS UNDER THE LOCAL LOANS FUND ACT, 1935 : AND TO PROVIDE FOR MATTERS CONNECTED THEREWITH. [9th November, 1987] |
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BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: |
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Waiver of sums advanced under Local Loans Fund Act, 1935. |
1.—Where any sum is, or, before the passing of this Act, has been, advanced on foot of a local loan under section 4 of the Local Loans Fund Act, 1935 , the Minister for Finance may, if it seems to him desirable so to do, direct that repayment of the whole, or such part as the Minister may specify, of— |
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(a) such sum, or |
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(b) the balance at the time of the direction remaining unpaid, |
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be waived together with the whole, or such part as may be so specified, of the interest on such sum then unpaid. |
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Statement by Minister for Finance. |
2.—(1) The Minister for Finance shall, from time to time, lay before each House of the Oireachtas a statement in accordance with subsection (2) of this section. |
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(2) Every statement of the Minister pursuant to this section shall specify, in relation to each category of local loan under section 4 of the Local Loans Fund Act, 1935 , the repayment of loans in which category has, pursuant to section 1 of this Act, been waived in whole or in part, the following matters:— |
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(a) the total number of such loans; |
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(b) the total amount advanced in respect of such loans; |
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(c) the total amount of principal, the repayment of which is being waived pursuant to the said section 1 ; and |
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(d) the total amount of interest, the repayment of which is being waived pursuant to the said section 1 . |
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Repeals. |
3.— Section 14 of the Local Loans Fund Act, 1935 , and section 10 (6) of the Housing (Miscellaneous Provisions) Act, 1979 , are hereby repealed. |
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Short title and collective citation. |
4.—(1) This Act may be cited as the Local Loans Fund (Amendment) Act, 1987. |
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(2) The Local Loans Fund Acts, 1935 to 1986, and this Act may be cited together as the Local Loans Fund Acts, 1935 to 1987. |
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