Educational Exchange (Ireland and the United States of America) Act, 1991
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Termination of the Agreement. |
17.—(1) In the event of the termination of the Agreement, all funds and property of the Commission shall become the property of the Government and of the Government of the United States of America, subject to such conditions, limitations and liabilities as may have been imposed thereon prior to termination and shall be divided between the two Governments in proportion to their respective contributions to the Commission during the period of validity of the Agreement and, as respects property accruing to the Government, shall be donated or transferred to some other institution or institutions having similar objects. | |
(2) In determining the respective contributions, any moneys to which the Commission succeeds pursuant to section 5 (4) of this Act shall be regarded as contributed by the Government of Ireland and any moneys standing to the credit of the Ireland-United States Educational Fund and invested by the Minister for Finance pursuant to the provisions of section 5 (3) of this Act shall become the property of the Government of Ireland. | ||
(3) The Commission shall become dissolved and shall cease to exist on such day following the termination of the Agreement as the Minister and the representative of the United States agree upon. |