Irish Shipping Limited Act, 1982
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Repayment of moneys paid under guarantee. |
4.—(1) Any advances out of the Central Fund or the growing produce thereof for the purposes of section 3 of this Act shall be repaid to the Minister (with, if the Minister so requires, interest thereon at such rates as the Minister appoints) by the Company within two years from the date of the advance. | |
(2) Where the whole or any part of moneys advanced under section 3 of this Act has not been repaid to the Minister in accordance with subsection (1) of this section, the amount so remaining outstanding shall be repaid to the Central Fund out of moneys provided by the Oireachtas. | ||
(3) Notwithstanding the provision of moneys under subsection (2) of this section to repay an amount to the Central Fund, the Company shall remain liable to the Minister in respect of that amount and that amount (with, if the Minister so requires, interest thereon at such rates as the Minister appoints) shall be repaid to the Minister by the Company at such times and in such instalments as the Minister appoints and, in default of repayment as aforesaid and without prejudice to any other method of recovery, shall be recoverable as a simple contract debt in any court of competent jurisdiction. | ||
(4) Moneys repaid by the Company to the Minister, or recovered from the Company by the Minister, under this section shall be paid into or disposed of for the benefit of the Exchequer. |