Industrial Credit (Amendment) Act, 1977
|
Amendment of Schedule to Industrial Credit Act, 1933. |
2.—Paragraph 4 of the Schedule to the Industrial Credit Act, 1933 , is hereby amended— | |
(a) by the substitution in clause (i) of subparagraph (d) (inserted by the Act of 1971) of “£200,000,000” for “seventy-five million pounds” (inserted by the Industrial Credit (Amendment) Act, 1974 ), and | ||
(b) by the substitution in the said paragraph (d) of the following subparagraph for subparagraph (iii): | ||
“(iii) money so raised or borrowed in a currency other than the currency of the State shall be deemed to be the equivalent in the currency of the State of the actual money raised or borrowed, such equivalent representing the amount in the currency of the State of the actual money raised or borrowed, the conversion being made at the rate of exchange in operation at the time of the transaction;”. |