Industrial Credit (Amendment) Act, 1974

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Number 20 of 1974


INDUSTRIAL CREDIT (AMENDMENT) ACT, 1974


ARRANGEMENT OF SECTIONS

Section

1.

Interpretation.

2.

Power of the Company to raise or borrow money by means of debentures or otherwise.

3.

Guarantees by the Minister.

4.

Power to alter Memorandum and Articles of Association of Company.

5.

Short title and collective citation.


Acts Referred to

Industrial Credit (Amendment) Act, 1971

1971, No. 9

Industrial Credit Act, 1933

1933, No. 25

Industrial Credit (Amendment) Act, 1958

1958, No. 10

Companies Act, 1963

1963, No. 33

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Number 20 of 1974


INDUSTRIAL CREDIT (AMENDMENT) ACT, 1974


AN ACT TO AMEND AND EXTEND THE INDUSTRIAL CREDIT ACTS 1933 TO 1971. [16th July, 1974]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Interpretation.

1.—(1) In this Act—

“the Act of 1971” means the Industrial Credit (Amendment) Act, 1971 ;

“the Principal Act” means the Industrial Credit Act, 1933 .

(2) The Industrial Credit Acts, 1933 to 1971, and this Act shall be construed as one Act.

Power of the Company to raise or borrow money by means of debentures or otherwise.

2.—Paragraph 4 of the Schedule to the Principal Act is hereby amended by the substitution in subparagraph (d) (i) (inserted by section 5 (1) of the Act of 1971) of “seventy-five million pounds” for “thirty million pounds”.

Guarantees by the Minister.

3.Section 3 of the Industrial Credit (Amendment) Act, 1958 , is hereby amended by the substitution in subsection (3) of “£75,000,000” for “£30,000,000” (inserted by section 7 of the Act of 1971).

Power to alter Memorandum and Articles of Association of Company.

4.—The Company shall take such steps as may be necessary under the Companies Act, 1963 , to alter the Memorandum and Articles of Association of the Company to make them consistent with the Industrial Credit Acts, 1933 to 1974.

Short title and collective citation.

5.—(1) This Act may be cited as the Industrial Credit (Amendment) Act, 1974.

(2) The Industrial Credit Acts, 1933 to 1971, and this Act may be cited together as the Industrial Credit Acts, 1933 to 1974.