Industrial Development Act, 1981
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Grants and loan guarantees. |
2.—(1) The following subsections are substituted for subsections (2) (a) and (3) (a) of section 17 of the Principal Act (inserted by the Act of 1978): | |
“(2) (a) The aggregate amount of grants made by the Authority under the Industrial Grants Act, 1956 , and of grants (other than grants under section 12 of the Act of 1952) made by An Foras Tionscal and the Minister under the Undeveloped Areas Acts, 1952 to 1969, and the Industrial Grants Acts, 1959 to 1969, and by the Authority under this Act, and of payments made by An Foras Tionscal and the Minister on foot of guarantees given by An Foras Tionscal and the Minister under the Industrial Grants Act, 1959, and of payments made by An Foras Tionscal or the Authority under section 4 of the Act of 1966, and of payments made by the Authority under section 15 of this Act, and of shares purchased or taken by the Authority under section 44 of this Act, and of grants made by the Authority under section 2 or 3 of the Industrial Development Act, 1977 , shall not exceed £1,500,000,000. | ||
(3) (a) The aggregate amount of grants under section 12 of the Act of 1952, section 3 of the Industrial Grants Act, 1956 , and subsection (1) (b) of this section (excluding any amounts required by the Authority to enable it to meet its obligations or liabilities arising from guarantees under section 37 of this Act or section 2 or 3 of the Industrial Development Act, 1977 ) shall not exceed £1,500,000,000.”. | ||
(2) The following paragraph is substituted for paragraph (b) of section 17 (2) of the Principal Act (inserted by the Act of 1977): | ||
“(b) The aggregate amount of moneys guaranteed in respect of principal by the Authority under section 37 of this Act or section 2 or 3 of the Industrial Development Act, 1977 , and outstanding, and of payments made by the Authority in respect of principal on foot of guarantees under any of those sections, shall not at any time exceed £125,000,000.”. | ||
(3) The following paragraph is substituted for paragraph (b) of section 17 (3) of the Principal Act (inserted by the Act of 1977): | ||
“(b) The aggregate amount of grants made by the Minister to the Authority to enable it to meet its obligations or liabilities arising from guarantees under section 37 of this Act or section 2 or 3 of the Industrial Development Act, 1977 , in respect of principal shall not exceed £125,000,000.”. |