Industrial Credit (Amendment) Act, 1983

Waiver of repayment by Company of advances.

4.—(1) Where any sum is, or, before the passing of this Act, has been, advanced under section 4 of the Industrial Credit (Amendment) Act, 1959 , the following provisions shall, notwithstanding anything contained in that Act, have effect:

(a) the Minister for Finance may waive the repayment by the Company of the whole or part of—

(i) such sum, or

(ii) the balance thereof remaining unrepaid;

(b) thereupon, the amount repayment of which has been waived shall cease to be repayable by the Company.

(2) Any amount repayment of which by the Company has been waived pursuant to subsection (1) of this section shall be repaid to the Minister for Finance out of moneys provided by the Oireachtas.

(3) Where any repayment has been made pursuant to subsection (2) of this section to the Minister for Finance, it shall be paid into the Exchequer.