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IRISH REPRODUCTIVE LOAN FUND ACT 1874
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CHAPTER LXXXVI.
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An Act to amend the Law relating to the Irish Reproductive Loan Fund. [7th August 1874.]
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[Preamble recites vesting of Irish Reproductive Loan Fund in the Irish Reproductive Loan Fund Institution in trust to lend the same to the industrious poor of the ten counties of Clare, Cork, Galway, Kerry, Leitrim, Limerick, Mayo, and Sligo (in this Act referred to as maritime counties) Roscommon and Tipperary, and also recites 11 & 12 Vict. c. 115.]
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Short title of Act.
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1. This Act may be cited for all purposes as “The Irish Reproductive Loan Fund Act, 1874.”
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Transfer of property to the Commissioners of Public Works in Ireland.
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2. All such property, real and personal, including all interests and rights in, to, and out of property, real and personal, and including obligations and things in action, as may form part of the Irish Reproductive Loan Fund, or may be vested in Her Majesty or any other person whatsoever, as part or on account of the said fund, shall pass to and vest in the Commissioners of Public Works in Ireland, subject to all debts and liabilities affecting the same.
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Power to recover property.
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3. The Commissioners for Public Works in Ireland, in this Act referred to as the Commissioners, may enforce any remedies for the recovery of any portion of the said Irish Reproductive Loan Fund which Her Majesty might have enforced if this Act had not passed, and notwithstanding the passing of this Act it shall be lawful for Her Majesty to use, on behalf of the said Commissioners, any remedies for the recovery of the said fund or any part thereof which it would have been lawful for Her Majesty to have used if this Act had not passed.
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Application of fund by Commissioners.
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4. The Commissioners shall hold the said Irish Reproductive Loan Fund on trust to dispose of the same by way of loan with a view to carry into effect the purposes of this Act.
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The purposes of this Act shall be deemed to be such purposes or objects of public utility [1
not otherwise provided for in whole or in part by local rate or assessment], including the instruction in and the promotion of agricultural science in the ten counties aforesaid, as the said Commissioners may think fit, with this addition, that in the case of the said maritime counties the purposes of this Act shall be deemed to include all or any of the following things, in this Act referred to as fishery purposes; that is to say,
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(1.) The building, purchase, or repairs of vessels, boats and gear for fishery purposes; and
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(2.) The purchase, erection, or repairs of houses and sheds for the curing of fish; and
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(3.) The purchase of materials to be used for the purposes of oyster cultivation.
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Regulations as to loans by Commissioners.
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5. The following restrictions shall be imposed on the Commissioners making loans under this Act:
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. . . . . . . . . . . .
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(4.) There shall be charged by way of interest, in respect of loans, such interest (if any) not exceeding three pounds ten shillings per cent., as the Commissioners may from time to time, with the approval of the Lord Lieutenant in council, determine.
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Subject as aforesaid, and to such rules as are herein-after mentioned, the Commissioners shall make loans for fishery purposes to such persons and upon such security as the inspectors of Irish fisheries may from time to time recommend.
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The recommendation of the said inspectors shall be testified by writing under their hands signed by all the said inspectors, specifying such particulars in respect of the loan, and especially the persons to whom and the security (personal or otherwise) on which the loan is to be made, as the Commissioners may require.
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In the case of all loans other than loans for fishery purposes, the Commissioners shall take such security, personal or otherwise, as they may from time to time think sufficient.
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[S. 6 rep. 46 & 47 Vict. c. 39. (S.L.R.)]
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Investment of moneys by Commissioners.
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7. All moneys for the time being in the hands of the Commissioners under this Act, and not employed by them in loans, may be invested by them in such Government or real securities as they may from time to time think expedient.
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[S. 8 rep. 46 & 47 Vict. c. 39. (S.L.R.)]
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Recovery of loans where undertakings not completed.
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9. If during any time while any part of a loan under this Act remains unpaid the Commissioners are satisfied that the borrower is not carrying into effect the undertaking for which the loan was made, they may recover forthwith the loan and all moneys due to them in respect thereof.
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Regulations.
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10. The Lord Lieutenant in council may from time to time make, and when made may rescind, annul, or add to, rules, with respect to the following matters:
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(1.) The mode in which loans are to be made under this Act, the amount of such loans, the securities to be given therefor, and the conditions on which such loans will be made; and
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(2.) The circulation of information as to the mode in which loans are to be applied for and made in pursuance of this Act; and
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(3.) As to any other matter or thing, whether similar or not to those above-mentioned, in respect of which it may be expedient to make rules with a view to more completely carry into effect the purposes of this Act.
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Any rules made in pursuance of this section shall, in so far as they are not inconsistent with this Act, be deemed to be within the powers conferred by this Act, and shall be of the same force as if enacted therein, and shall be judicially noticed; and it shall be the duty of the Commissioners and of the inspectors of fisheries to conform to any rules so made.
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Power of Commissioners to receive gifts for fishery purposes.
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11. The Commissioners may receive any gifts made to them by deed, will, or otherwise of property, whether real or personal, to be applied for fishery purposes as defined by this Act, and may apply the same accordingly for the benefit of any maritime county or counties specified by the giver, or if no particular county or counties are specified, for the benefit of all the said maritime counties
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Accounts to be rendered by Commissioners.
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12. The Commissioners shall, once at the least in every year, render to the Treasury, at such time and in such manner as they may direct, an account of their receipts and expenditure during the preceding year, made up to the thirty-first day of December, and of the mode in which such receipts have been derived and expenditure incurred, together with a statement of the amount (if any) remaining in their hands at the date of such account; also of the amount of loans outstanding, and of the amount (if any) of principal and interest in arrear in respect of any loans; and the Treasury shall submit to Parliament such account or a summary thereof, in such form as they think expedient.
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[S. 13 and Sched. rep. 56 & 57 Vict. c. 54. (S.L.R.)]
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[1 Words in brackets rep. as regards the counties of Roscommon and Tipperary, 46 & 47 Vict. c. 33. s. 2.] |
