Local Government (Mayor of Limerick) and Miscellaneous Provisions Act 2024
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Amendment of Land Development Agency Act 2021 | ||
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69. The Land Development Agency Act 2021 is amended by the insertion of the following section after section 32: | ||
“Further provision relating to funding of Agency | ||
32A. (1) Notwithstanding sections 25 to 29, section 42B of the National Treasury Management Agency (Amendment) Act 2014 and section 5 of the Housing Finance Agency Act 1981 , the Agency and any subsidiary DAC may from time to time also raise funds— | ||
(a) by its or their performance of the functions of the Agency under paragraph (j), (n) or (o) of section 14(1), or | ||
(b) through arrangements referred to in section 6 (2)(c) or 42 of the Affordable Housing Act 2021 or as the owner of a dwelling which is designated as a cost rental dwelling within the meaning of Part 3 of that Act. | ||
(2) Funds referred to in subsection (1)— | ||
(a) shall not exceed an amount of €1,250,000,000, | ||
(b) shall only be raised with the approval of both the Minister and the Minister for Public Expenditure, National Development Plan Delivery and Reform, and | ||
(c) may be used by the Agency and any subsidiary DAC in the performance of the functions of the Agency. | ||
(3) Without prejudice to the generality of subsection (2), funds referred to in subsection (1)(a)— | ||
(a) may be raised in any currency, and | ||
(b) shall in respect of any liabilities arising be the responsibility of the Agency to satisfy.”. |