Securitisation (Proceeds of Certain Mortgages) Act, 1995

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Number 30 of 1995


SECURITISATION (PROCEEDS OF CERTAIN MORTGAGES) ACT, 1995


ARRANGEMENT OF SECTIONS

Section

1.

Interpretation.

2.

Application.

3.

Disposal of certain mortgages held by housing authorities.

4.

Designated bodies.

5.

Proceeds of certain mortgage payments to be excluded from general revenues of housing authorities.

6.

Effect of payment by housing authority to designated body.

7.

Indemnity, etc. to designated body by Minister.

8.

Collection and remission of payments through Local Loans Fund.

9.

Disclosure of certain information.

10.

Treatment of surplus on winding up of designated body.

11.

Amendment of section 138 (holding and investment of moneys of Post Office Savings Bank Fund, etc.) of Finance Act, 1993.

12.

Power of Minister to enter investment or hedging contracts, etc.

13.

Delegation of certain functions.

14.

Exemption from tax of designated body.

15.

Exemption from stamp duty of designated body.

16.

Audit.

17.

Expenses.

18.

Short title.

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Number 30 of 1995


SECURITISATION (PROCEEDS OF CERTAIN MORTGAGES) ACT, 1995


AN ACT TO PROVIDE FOR THE SECURITISATION OF CERTAIN MONEYS DUE TO HOUSING AUTHORITIES AND FOR OTHER MATTERS RELATING TO SUCH SECURITISATION, TO PROVIDE FOR THE DELEGATION OF CERTAIN FUNCTIONS UNDER THIS ACT TO THE NATIONAL TREASURY MANAGEMENT AGENCY, TO PROVIDE FOR THE AMENDMENT OF SECTION 138 OF THE FINANCE ACT, 1993 , AND OTHERWISE TO PROVIDE FOR CONNECTED MATTERS. [30th November, 1995]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: