Industrial Development Act, 1986

Industrial Development Act, 1986 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.ie) Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.ie) Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(s) or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1986 Industrial Development Act, 1986 Industrial Development Act, 1986 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Revised Act Acht Athbh… Print Full ActPriontáil an tAcht Iomlán Number 9 of 1986 INDUSTRIAL DEVELOPMENT ACT, 1986 ARRANGEMENT OF SECTIONS PART I Preliminary and General Section 1. Short title and commencement. 2. Interpretation. 3. Service industry. 4. Designated areas. 5. Remission of rates. 6. Triennial review of national industrial performance. 7. Orders. 8. Expenses. 9. Repeals. PART II Industrial Development Authority 10. The Industrial Development Authority. 11. Functions of the Authority. 12. Delegation of functions. 13. Directives to the Authority. 14. Grants to the Authority. 15. Maximum amount of grants, payments and guarantees by the Authority. 16. Provision of sites and services by the Authority. 17. Exemption from stamp duty. 18. Authority's power to accept gifts. 19. Temporary borrowing. 20. Authority's power to engage consultants and advisers. PART III Industrial Incentives 21. Authority's general grant-making powers. 22. Grants for fixed assets leased. 23. Grants towards reduction of interest. 24. Guarantee of loans. 25. Employment grants to service industry. 26. Guarantee of loans and interest subsidy for restructuring industry. 27. Guarantee of loans and interest subsidy for enterprise development. 28. Training grants. 29. Research grants. 30. Technology acquisition grants. 31. Power to purchase shares. 32. Grants to secure reduction of factory rents. 33. Percentage limits on aggregate of certain grants. 34. Total amount of grants. 35. Government's power in regard to industrial incentives. 36. Authority's powers to value assets, etc. 37. Contravention of term or condition attached to grant or other payment. PART IV Members and Staff 38. Remuneration etc. of members of Authority. 39. Staff of Authority. 40. Membership of Houses of Oireachtas or Assembly of European Communities. 41. Superannuation of staff. 42. Disclosure of documents. 43. Disclosure of information. FIRST SCHEDULE The Industrial Development Authority SECOND SCHEDULE Provisions Relating to Exercise of Powers of Authority THIRD SCHEDULE Designated Areas FOURTH SCHEDULE Enactments Repealed Acts Referred to Acquisition of Land (Assessment of Compensation) Act, 1919 9 and 10 Geo. 5, c. 57 Companies Act, 1963 1963, No. 33 European Assembly Elections Act, 1977 1977, No. 30 European Assembly Elections Act, 1984 1984, No. 6 Industrial Development Act, 1969 1969, No. 32 Industrial Development Act, 1977 1977, No. 37 Industrial Development (No. 2) Act, 1981 1981, No. 14 Industrial Grants (Amendment) Act, 1966 1966, No. 16 Lands Clauses Consolidation Act, 1845 8 and 9 Vict., c. 18 Local Government Act, 1941 1941, No. 23 Ministers and Secretaries (Amendment) Act, 1956 1956, No. 21 Shannon Free Airport Development Company Limited Act, 1959 1959, No. 36 Shannon Free Airport Development Company Limited (Amendment) Act, 1970 1970, No. 9 Shannon Free Airport Development Company Limited (Amendment) Act, 1983 1983, No. 12 Superannuation and Pensions Act, 1963 1963, No. 24 Transport Act, 1944 1944, No. 21 Undeveloped Areas Act, 1952 1952, No. 1 Number 9 of 1986 INDUSTRIAL DEVELOPMENT ACT, 1986 AN ACT TO CONSOLIDATE WITH AMENDMENTS THE INDUSTRIAL DEVELOPMENT AUTHORITY ACT, 1950, THE INDUSTRIAL DEVELOPMENT ACTS, 1969 TO 1981, THE UNDEVELOPED AREAS ACTS, 1952 TO 1969, AND THE INDUSTRIAL GRANTS ACTS, 1959 TO 1969, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [6th May, 1986] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: PART I Preliminary and General Short title and commencement. 1.—(1) This Act may be cited as the Industrial Development Act, 1986. (2) This Act shall come into operation on such day or days as may be fixed therefore by order or orders of the Minister, either generally or with reference to a particular purpose or provision, and different days may be so fixed for different purposes and different provisions of this Act. Interpretation. 2.—(1) In this Act— “the Authority” means the Industrial Development Authority; “designated area” means any area which, by virtue of section 4 , is for the time being a designated area; “factory building” means a building which is used or intended to be used for carrying on an industrial undertaking together with any other building which is subsidiary or ancillary thereto and is used or intended to be used for a purpose connected with the undertaking; “fixed assets” means machinery, plant, equipment, land, buildings, services and other works of or for an industrial undertaking; “industrial estate” means an area of land used mainly for industrial purposes and purposes ancillary or incidental thereto and having on it at least two factory buildings; “industrial undertaking” includes an undertaking ancillary to industry and a service industry, and “industry” shall be construed accordingly; “land” includes messuages, tenements and hereditaments, houses and buildings of any tenure; “local authority” has the same meaning as in section 2 of the Local Government Act, 1941 ; “member” means member of the Authority; “the Minister” means the Minister for Industry and Commerce; “repealed enactment” means an enactment repealed by this Act; “service industry” means an undertaking to which an order under section 3 applies. (2) In this Act— (a) a reference to a Part, section or Schedule is to a Part, section or Schedule of this Act unless it is indicated that a reference to some other enactment is intended; (b) a reference to a subsection, paragraph or subparagraph is to the subsection, paragraph or subparagraph of the provision in which the reference occurs, unless it is indicated that reference to some other provision is intended; (c) a reference to any other enactment shall, unless the context otherwise requires, be construed as a reference to that enactment as amended by or under any other enactment, including this Act. Service industry. [1981 (No. 2), s. 3] 3.—(1) The Minister may by order provide that any undertaking engaged in the provision of a service specified in the order shall be a service industry for the purposes of this Act. (2) An order under subsection (1) in relation to a banking service shall not be made except after consultation with the Minister for Finance. (3) An order under section 3 of the Industrial Development (No. 2) Act, 1981 , in force immediately before the commencement of this section shall continue in force and shall be deemed to be an order made under this section. Designated areas. [1952, s. 3; 1969, s. 6. New in pt.] 4.—(1) Subject to subsection (3), each of the areas set out in the Third Schedule and any area which the Minister, with the consent of the Minister for Finance, by order declares to be a designated area shall be a designated area for the purposes of this Act. (2) An order under subsection (1) may declare an area to be a designated area for such period as is specified in the order. (3) The Minister may, with the consent of the Minister for Finance, by order terminate the designation of any area, or part thereof, as a designated area. Remission of rates. [1972, s. 3] 5.—(1) A local authority may, if they think fit, remit two-thirds of a rate leviable by them in respect of premises to which this section applies. (2) The remission shall, subject to subsection (3), have effect in respect of the local financial year in which the premises for the industrial undertaking is first rated and in respect of each of the next nine local financial years. (3) If, in any local financial year, the Authority certifies that the undertaking has failed to observe the terms upon which the premises were provided, the remission shall not have effect in respect of the local financial year. (4) A remission shall not be granted more than once in respect of the same premises. (5) Where premises are not separately valued under the Valuation Acts, the Commissioner of Valuation may, on the application of the Authority, apportion to the premises such part as he thinks proper of the rateable valuation of the property of which the premises are part. (6) The powers conferred on a local authority by this section shall be reserved functions for the purposes of the County Management Acts, 1940 to 1972. (7) This section applies to premises which— (a) are certified by the Authority to have been provided for an industrial undertaking either by the Authority or by means of a grant made by the Authority, and (b) are situate in an area which at the time of the provision of the premises was a designated area under a repealed enactment or is a designated area under this Act. Triennial review of national industrial performance. 6.—The Minister shall, in the year 1986 and in every third year thereafter, prepare a review of national industrial performance in respect of the previous three years and shall cause the review, and the conclusions arising from such review, to be laid before each House of the Oireachtas. [New] Orders. 7.—(1) The Minister may by order revoke or amend an order made by him under any provision of this Act other than section 1 . (2) An order made under any provision of this Act shall as soon as may be after it is made be laid before each House of the Oireachtas. Expenses. 8.—The expenses incurred by the Minister in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas. Repeals. 9.—The enactments specified in the Fourth Schedule are hereby repealed to the extent mentioned in the third column of that Schedule. PART II Industrial Development Authority The Industrial Development Authority. [1950, s. 2] 10.—(1) The Industrial Development Authority shall continue in being notwithstanding the repeals effected by this Act. (2) The Authority in the exercise of its powers and functions shall be responsible to the Minister. (3) The First Schedule shall apply in relation to the Authority. Functions of the Authority. [1950, s. 3; 1969, ss. 11, 12, 14, 15. New in pt.] 11.—(1) Subject to the provisions of this Act, the Authority shall be an autonomous body with the following functions: (a) to act under the Minister as a body having national responsibility for the implementation of industrial development policies; (b) to provide and administer such grants and other financial facilities for industry as it may be authorised by the Oireachtas to provide and to administer; (c) to initiate proposals and schemes for submission to the Minister for the creation and development of industry and the provision and maintenance of industrial employment; (d) to provide, develop, construct, alter, adapt, maintain and administer industrial estates and factory buildings together with the associated facilities of such estates and buildings; (e) to foster the national objective of regional industrial development; (f) to survey possibilities of further industrial development and advise the Minister thereon; (g) to advise the Minister on steps necessary and desirable for establishing new industry and for the expansion and modernisation of existing industry; (h) to give on request advice and guidance to persons contemplating starting new industry or expanding existing industry; (i) to provide such assistance of a technical or advisory nature to developing countries as the Minister may consider appropriate; and (j) to advise on any matter relating to industrial development referred to it by the Minister. (2) The provisions of subsection (1), paragraphs (b) and (d) shall not apply to the Shannon Customs Free Airport. (3) The Authority shall, in the exercise of its functions, act in accordance with policies set out for it from time to time by the Minister. (4) The Authority may in the exercise of its functions have regard to the extent to which an industrial undertaking will serve to promote national objectives for regional development. Delegation of functions. [1969, Sch. 2, par. 5. New in pt.] 12.—(1) The Authority may, without prejudice to its general responsibilities under this Act, perform any of its functions through or by any of the members of its staff duly authorised by the Authority in that behalf. (2) The Authority may, without prejudice to the generality of the foregoing, delegate its grant making powers to a board or committee constituted by the Authority or to any of its members or to any member of the staff duly authorised by the Authority in that behalf. (3) The terms and conditions of every delegation made by the Authority under subsection (2) or under section 4 of the Shannon Free Airport Development Company Limited (Amendment) Act, 1970 , as amended by section 6 of the Shannon Free Airport Development Company Limited (Amendment) Act, 1983 , and by section 9 of and the Fourth Schedule to this Act shall be subject to the approval of the Minister. (4) The Authority may, as it thinks proper, from time to time constitute boards or committees for the purposes of this section and dissolve any such body. (5) Membership of a board or committee may include persons who are not members of the Authority or its staff. Directives to the Authority. 13.—(1) The Minister may give the Authority such general policy directives as he considers appropriate having regard to the provisions of this Act. (2) A directive under subsection (1) shall not apply to any individual industrial undertaking or to giving preference to one area over others in regard to the location of an industrial undertaking otherwise than as part of a general review of industrial policy for the country as a whole indicated in the directive. (3) The Minister shall cause any directive given by him under subsection (1) to be laid before each House of the Oireachtas within twenty-one days after it has been so given. (4) The Authority shall comply with any directive given to it under this section and shall set out the directive in its annual report and shall include in its annual report an account of the actions which it has undertaken to give effect to the directive. [New] Grants to the Authority. [1969, s. 17; 1975 (No. 2), s. 2; 1977, s. 5; 1981, s. 2] 14.—(1) In each financial year there may be paid by the Minister to the Authority out of money provided by the Oireachtas grants of such amounts as the Minister, with the consent of the Minister for Finance, may sanction to enable the Authority— (a) to meet its administration and general expenses, and (b) to discharge the obligations or liabilities incurred by the Authority under this Act or any repealed enactment or otherwise. (2) The aggregate amount of grants made by the Minister to the Authority under subsection (1) (b) (other than grants to which subsection (3) applies) shall not exceed £700,000,000. (3) 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 this Act, section 37 of the Industrial Development Act, 1969 and sections 2 and 3 of the Industrial Development Act, 1977 in respect of principal and interest shall not exceed £125,000,000. (4) In relation to a guarantee under this Act in money in a currency other than the currency of the State the amount of the guarantee shall be no greater than the equivalent in currency of the State, at the time of the giving of the guarantee, of the amount so guaranteed. Maximum amount of grants, payments and guarantees by the Authority. [1969, s. 17; 1975 (No. 2), s. 2; 1977, s. 5; 1981, s. 2] 15.—(1) The aggregate amount of grants made by the Authority and of payments made by it under sections 16 and 31 or the corresponding provisions of any repealed enactment, after the commencement of this section, shall not exceed the aggregate limit specified in section 14 (2). (2) The aggregate amount of money guaranteed in respect of principal and interest by the Authority under this Act, section 37 of the Industrial Development Act, 1969 and sections 2 and 3 of the Industrial Development Act, 1977 and outstanding and of payments made by the Authority in respect of principal and interest on foot of guarantees under any of these sections shall not at any time exceed the aggregate amount specified in section 14 (3). Provision of sites and services by the Authority. [1952, s. 5; 1959, s. 2; 1963, s. 9; 1969, s. 15] 16.—(1) For the purpose of providing or facilitating the provision of sites or premises for the establishment, development or maintenance of an industrial undertaking the Authority may— (a) acquire any land either permanently or temporarily and either by agreement or compulsorily; (b) acquire (either permanently or temporarily and either by agreement or compulsorily) any easement, way-leave, water-right or other right whatsoever over or in respect of any land or water; (c) terminate, restrict or otherwise interfere with (either permanently or temporarily and either by agreement or compulsorily) any easement, way-leave, water-right or other right whatsoever over or in respect of any land or water; (d) construct, adapt and maintain buildings and other works; (e) provide services and facilities in connection with land; (f) sell, lease or otherwise dispose of land vested in it; (g) make grants to aid persons to— (i) acquire land, (ii) construct and adapt buildings and other works, and (iii) provide services and facilities in connection with land; (h) do any act or thing which may be necessary for or incidental to the doing of anything which the Authority is by the preceding paragraphs authorised to do, if the Authority— (i) considers that industrial development will or is likely to occur as a result, and (ii) is satisfied that the undertaking conforms or will conform to the criteria set out in subsections (3) and (4) of section 21 or section 25 (2). (2) The provisions of the Second Schedule shall apply to the exercise by the Authority of its powers under this section. (3) Nothing in subsection (1) shall be construed as affecting the operation of section 130 of the Transport Act, 1944 . Exemption from stamp duty. [1969, s. 23] 17.—No stamp duty shall be payable on any instrument under which any land, easement, way-leave, water-right or other right whatsoever over or in respect of the land or water is acquired by the Authority. Authority's power to accept gifts. [1969, s. 19] 18.—(1) The Authority may accept a gift of money, land or other property on such trusts and conditions as may be specified by the donor. (2) The Authority shall not accept a gift if a condition attached by the donor to the acceptance of the gift is inconsistent with the functions of the Authority. Temporary borrowing. [1969, s. 20; 1977, s. 6] 19.—(1) The Authority may, with the consent of the Minister given with the concurrence of the Minister for Finance, borrow temporarily by arrangement with bankers or otherwise such sums as it may require for the purpose of providing for current expenditure. (2) In this section “current expenditure” includes expenditure by the Authority in the exercise of any of its functions, whether of an administrative or of a capital nature. Authority's power to engage consultants and advisers. [1969, s. 21] 20.—The Authority may, out of money at its disposal, from time to time engage such consultants or advisers as it may consider necessary for the discharge of its functions. PART III Industrial Incentives Authority's general grant-making powers. [1969, ss. 33, 34. New in pt.] 21.—(1) The Authority may make a grant, on such terms and conditions as it thinks proper, towards the cost of fixed assets of or for an industrial undertaking to which this section applies. (2) The amount of a grant under subsection (1) shall not exceed 60 per cent. of the cost of the fixed assets in the case of an industrial undertaking in a designated area or 45 per cent. of the cost of the fixed assets in the case of an industrial undertaking elsewhere than in a designated area. (3) This section applies to an industrial undertaking in respect of which the Authority is satisfied that it— (a) will produce products for sale primarily on world markets, in particular those products which will result in the development or utilisation of local materials, agricultural products or other natural resources; or (b) will produce products of an advanced technological nature for supply to internationally trading or skilled sub-supply firms within the State; or (c) will produce products for sectors of the Irish market which are subject to international competition; or (d) is a service industry as specified by the Minister by order under section 3 . (4) The industrial undertaking shall also satisfy the Authority that— (a) financial assistance is necessary to ensure the establishment or development of the undertaking; (b) the investment proposed is commercially viable; (c) it has an adequate equity base; (d) it has prepared a suitable company development plan; and (e) it will provide new employment or maintain employment in the State that would not be maintained without assistance given under this Act and increase output and value added within the economy. (5) (a) The Authority may, in the case of small industrial undertakings as defined from time to time by the Minister, make a grant on such terms and conditions as it thinks proper in respect of any additional person employed in such an undertaking. (b) A grant under this subsection shall be subject to such financial limits and such other terms and conditions as may from time to time be specified in a scheme governing the making of such grants sanctioned by the Minister with the concurrence of the Minister for Finance. (c) A grant under this subsection shall not be reckoned in the calculation of the maximum grants payable to the undertaking concerned for the purposes of subsection (2) and section 33 . Grants for fixed assets leased. [1969, ss. 35, 47] 22.—(1) The Authority may make a grant on such terms and conditions as it thinks proper in respect of the cost of fixed assets which have been leased for the purpose of an industrial undertaking which conforms to the criteria set out in subsections (3) and (4) of section 21 . (2) The amount of a grant under this section shall not exceed 60 per cent. of the cost of the fixed assets in the case of an industrial undertaking in a designated area or 45 per cent. of the cost of the fixed assets in the case of an industrial undertaking elsewhere than in a designated area. (3) Where a grant under this section is payable by instalments over a period of years, the amount of grant shall, for the purposes of subsection (2), be taken to be the capital value of such instalments as determined by the Authority. (4) Where land is leased by the Authority to or for an industrial undertaking at a rent less than the economic rent as determined by the Authority the capital value of the difference between the rent so payable and the economic rent so determined shall be deemed to be a grant for the purposes of this section. Grants towards reduction of interest. [1969, s. 36] 23.—(1) The Authority may, in the case of an industrial undertaking which conforms to the criteria set out in subsections (3) and (4) of section 21 , make a grant on such terms and conditions as it thinks proper towards a reduction of the interest payable on a loan raised to provide fixed assets for that undertaking. (2) The amount of a grant under this section shall not exceed 60 per cent. of the cost of the fixed assets in the case of an industrial undertaking in a designated area or 45 per cent. of the cost of the fixed assets in the case of an industrial undertaking elsewhere than in a designated area. (3) Where a grant is made by the Authority under this section, the grant shall be in such form and on such terms and conditions as may be specified in a scheme governing the making of such grants sanctioned by the Minister with the concurrence of the Minister for Finance. Guarantee of loans. [1969, s. 37; 1981, s. 5] 24.—(1) The Authority may guarantee the due repayment of part (not exceeding 80 per cent.) of the principal of any money (including money in a currency other than the currency of the State) borrowed in respect of fixed assets of an industrial undertaking or the payment of interest on such money or both the repayment of the principal and the payment of such interest, if (in each such case) the undertaking conforms to the criteria set out in subsections (3) and (4) of section 21 . (2) Whenever a loan is guaranteed under this section, the guarantee shall be in such form and manner and on such terms and conditions as may be specified in a scheme governing the giving of such guarantees sanctioned by the Minister with the concurrence of the Minister for Finance. (3) Money required by the Authority to meet sums which may become payable by the Authority under a guarantee shall be paid out of funds at the disposal of the Authority. (4) The capital value of a loan guarantee under this section shall be reckoned in the calculation of grants for the purpose of sections 33 and 34 and shall be determined in accordance with such terms and conditions as may be specified in the scheme referred to in subsection (2). (5) The Authority shall not, without the prior permission of the Government, give in respect of a particular industrial undertaking a guarantee under this section where the amount of the principal of any money guaranteed exceeds £750,000. (6) Section 14 (4) applies to a guarantee under this section in money in a currency other than the currency of the State. Employment grants to service industry. [1981 (No. 2), s. 2. New in pt.] 25.—(1) The Authority may make a grant (in this section referred to as an employment grant), on such terms and conditions as it thinks proper, towards the employment of persons in a service industry carried on as a separate undertaking. (2) An employment grant may be made where, in the opinion of the Authority, the service industry would contribute significantly to regional and national development and, in particular— (a) would be commercially viable, (b) would have good prospects for growth, and (c) would not be developed in the absence of an employment grant. (3) The amount of an employment grant shall be subject to such financial limits as may be fixed from time to time by the Minister with the concurrence of the Minister for Finance. (4) The Authority shall not, without the prior permission of the Government, give in respect of a particular undertaking an employment grant or grants exceeding in the aggregate £1,250,000. Guarantee of loans and interest subsidy for restructuring industry. [1977, s. 2; 1981, s. 6] 26.—(1) For the purpose of promoting the restructuring of industry, the Authority may, in the case of the acquisition by an industrial undertaking of the whole or part of another industrial undertaking or in the case of an amalgamation between two or more industrial undertakings, in addition to any other power conferred on it by this Act— (a) make a grant, on such terms and conditions as it thinks proper, towards the reduction of interest payable on a loan raised in connection with such an acquisition or amalgamation, (b) guarantee the due repayment of the whole or part of the principal of any money (including money in a currency other than the currency of the State) borrowed in connection with such an acquisition or amalgamation or the payment of interest on such principal or both the repayment of the principal and the payment of such interest. (2) The Authority shall not, without the prior permission of the Government, give a guarantee in respect of money borrowed in connection with an acquisition or amalgamation referred to in subsection (1) or make a grant towards the reduction of interest payable on a loan raised for such purposes where the amount of the principal of any money the subject of the guarantee and the amount of the grant payable towards the reduction of interest exceed in the aggregate £750,000. (3) Section 14 (4) applies to a guarantee under this section in money in a currency other than the currency of the State. Guarantee of loans and interest subsidy for enterprise development. [1977, s. 3; 1981, s. 7] 27.—(1) For the purpose of encouraging the establishment of an industrial undertaking which conforms to the criteria set out in subsections (3) and (4) of section 21 by a suitably qualified person who has not, or has not to a significant extent, previously been an owner of an industrial undertaking, the Authority may, in addition to any other power conferred on it by this Act— (a) make a grant, on such terms and conditions as it thinks proper, towards the reduction of interest payable on a loan raised to provide working capital for such an undertaking, (b) guarantee the due repayment of part (not exceeding 80 per cent.) of the principal of any money (including money in a currency other than the currency of the State) borrowed in respect of working capital for such an undertaking or the payment of interest on the part so guaranteed of such principal or both the repayment of such part and the payment of such interest. (2) The Authority shall not, without the prior permission of the Government, give a guarantee in respect of money borrowed in respect of working capital for an undertaking referred to in subsection (1) or make a grant towards the reduction of interest payable on a loan raised to provide working capital for such an undertaking, where the amount of the principal of any money the subject of the guarantee and the amount of the grant payable towards the reduction of interest exceed in the aggregate £300,000. (3) Section 14 (4) applies to a guarantee under this section in money in a currency other than the currency of the State. Training grants. [1969, s. 39; 1981, s. 4] 28.—(1) Following consultation with An Comhairle Oiliúna, the Authority may make a grant (in this section referred to as a training grant), on such terms and conditions as it thinks proper, for the training (either in the State or elsewhere) of persons in the processes of an industrial undertaking, if the undertaking conforms to the criteria set out in subsections (3) and (4) of section 21 and the training so provided will assist the undertaking to achieve the objectives of the said subsection (3). (2) A training grant may be made for the training of persons for positions of supervision or management in an industrial undertaking or for the engagement of instructors, technical advisers or consultants to train (or assist in the training of) persons for such positions. (3) The amount of training grants made in respect of a particular industrial undertaking shall not exceed the sum of the amount of wages or salaries paid by the undertaking during the period of training to the persons being trained, the amount of expenses paid to those persons by the undertaking for travel and subsistence and the amount paid by the undertaking in respect of fees (including fees and remuneration of instructors, advisers and consultants) and similar expenses connected with the training. (4) The Authority shall not, without the prior permission of the Government, give in respect of a particular industrial undertaking training grants exceeding in the aggregate £2,000,000. Research grants. [1969, s. 40; 1981, s. 8. New in pt.] 29.—(1) Following consultation with such bodies as may be specified by the Minister from time to time, the Authority may make a grant (in this section referred to as a research grant), subject to subsection (5), on such terms and conditions as it thinks proper towards the cost of projects of research and development to which this section applies. (2) This section applies to projects of research and development which— (a) have as their primary object the promotion or development of new or improved industrial processes, methods or products in the State, and, in particular, such processes, methods or products as are likely either to involve the use or development of local materials, agricultural products or other natural resources or to offer prospects of expansion in existing industry, promotion of new industry or to increase industrial employment, and (b) are carried out wholly or mainly in the State and wholly or mainly sponsored by one or more than one industrial undertaking in the State. (3) For the purpose of a research grant the Authority may consult such adviser, consultant, institute or other organisation or person as it considers proper. (4) (a) Subject to paragraph (b), the amount of a research grant shall not exceed 50 per cent. of the approved costs of the project concerned or £250,000, whichever is the smaller sum. (b) The amount of a research grant may, with the approval of the Government in a particular case, exceed £250,000 by such sum as the Government shall in that case specify, provided that the percentage limit specified in paragraph (a) is not exceeded. (c) In this section “approved costs” means in relation to a particular research grant, such expenditure by the industrial undertaking or undertakings concerned as the Authority is satisfied has been or will be incurred for the purpose of promoting the project concerned and has been or will be expended on— (i) the provision of sites or premises (including the acquisition of land), the construction and adaptation of buildings, and the provision of services and other works; (ii) the provision of plant, machinery, equipment and materials; (iii) the payment of fees or other remuneration to technical advisers consulted in connection with the project; (iv) the salaries and wages paid to and the travel and subsistence expenses of persons engaged on the project or in identifying product or process development prospects within the industrial undertaking; and (v) overhead charges associated with the project concerned. (5) The Authority may, in the case of small industrial undertakings as defined from time to time by the Minister, make payment of up to one-third of a research grant prior to the approved costs being incurred on condition that the amount so paid shall be repaid to the Authority if the research or development project concerned has not been carried out to the satisfaction of the Authority. (6) The Authority shall not make a payment under subsection (5) unless it is satisfied that the industrial undertaking has available to it sufficient assets to cover its liability under that subsection. (7) The Authority shall not, without the prior permission of the Government, give in respect of a particular industrial undertaking, research grants exceeding in the aggregate the higher of:— (a) £500,000; or (b) £500,000 in excess of the aggregate amount of research grants for which the permission of the Government has previously been obtained by the Authority. Technology acquisition grants. 30.—(1) Following consultation with such bodies as may be specified by the Minister from time to time, the Authority may make a grant (in this section referred to as a technology acquisition grant) to an industrial undertaking on such terms and conditions as it thinks proper towards the costs of acquiring product or process technology to which this section applies, if the undertaking conforms to the criteria set out in subsections (3) and (4) of section 21 and the product or process technology so acquired will assist the undertaking to achieve the objectives of the said subsection (3). (2) Product or process technology for the purpose of this section shall include patents, designs, trade marks, trade secrets, copyright, proprietary and non-proprietary information and techniques. (3) This section applies to the acquisition of product or process technology which has as its primary object the improvement of the technological capability of one or more than one industrial undertaking and the production or application of advanced industrial processes or products in the State. (4) For the purpose of a technology acquisition grant the Authority may consult such adviser, consultant, institute or other organisation or person as it considers proper. (5) (a) Subject to paragraph (b), the amount of a technology acquisition grant shall not exceed 50 per cent. of the approved costs of acquisition of the technology concerned or £250,000, whichever is the smaller sum. (b) The amount of a technology acquisition grant may, with the approval of the Government in a particular case, exceed £250,000 by such sum as the Government shall in that case specify, provided that the percentage limit specified in paragraph (a) is not exceeded. (c) In this section “approved costs” means in relation to a particular technology acquisition grant, such expenditure by the industrial undertaking or undertakings concerned as the Authority is satisfied has been incurred for the purpose of acquiring the product or process technology concerned and has been expended on— (i) acquiring or an option to acquire a licence or knowledge of a product or method of production; (ii) the payment of fees or other remuneration to technical advisers consulted in connection with the acquisition of the technology; and (iii) the salaries and wages paid to, and the travel and subsistence expenses of persons engaged in the acquisition of the technology. (6) The Authority shall not, without the prior permission of the Government, give in respect of a particular industrial undertaking, technology acquisition grants exceeding in the aggregate the higher of:— (a) £500,000; or (b) £500,000 in excess of the aggregate amount of technology acquisition grants for which the permission of the Government has previously been obtained by the Authority. [New] Power to purchase shares. [1969, s. 44; 1977, s. 9; 1981, s. 9. New in pt.] 31.—(1) Where, in the opinion of the Authority, an industrial undertaking conforms to the criteria set out in subsections (3) and (4) of section 21 , the Authority may, out of funds at its disposal— (a) purchase or take shares, to any extent it may consider desirable, in the body corporate owning, controlling or managing the undertaking or in a body corporate participating in the ownership, control or management of the undertaking, (b) form or take part with other persons in the formation of such bodies corporate, but no shares shall be purchased or taken by the Authority except after consultation with any body (in this subsection referred to as a State-sponsored body) specified for the purposes of this subsection by the Minister by order nor where as a result the Authority itself, or the Authority and any State-sponsored body or bodies together, would hold more than half in nominal value of the share capital or more than half in nominal value of shares carrying voting rights (other than voting rights which arise only in specified circumstances) in a body corporate, unless the Minister shall have approved of the proposed purchase or taking of shares. (2) Shares purchased or taken by the Authority under this section shall be registered in the name of the Minister for Finance. (3) All amounts representing dividends or other money received by the Minister for Finance in respect of shares purchased or taken under this section shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct. (4) The Authority shall not, without the prior permission of the Government, expend more than £1,500,000 in the purchase or taking of shares in a particular body corporate. Grants to secure reduction of factory rents. [1966, s. 9; 1969, s. 46] 32.—(1) Where, in the opinion of the Authority, a factory building is, or is intended to be, used for the purpose of or in connection with the carrying on of an industrial undertaking which conforms to the criteria set out in subsections (3) and (4) of section 21 and is held under a lease or other letting subject to a rent or other payment, the Authority may make grants, upon such terms and subject to such conditions as it thinks proper to impose, to the person entitled to the rent or other payment to enable him to reduce such rent or payment. (2) The Authority may, in lieu of making a grant to a person under subsection (1), make the grant on such terms and conditions as it thinks proper to the industrial undertaking (or intended undertaking) concerned. (3) The amount of a grant under this section shall not exceed the amount of the grant which may be made in respect of a factory building under section 21 . (4) Where a grant under this section is payable by instalments over a period of years, the amount of grant shall be taken to be the capital value of such instalments as determined by the Authority. Percentage limits on aggregate of certain grants. [1969, s. 41. New in pt.] 33.—(1) Where in respect of an industrial undertaking grants or a loan guarantee have been made under two or more of the sections to which this section applies, the aggregate amount of such grants together with the capitalised value of the loan guarantee under section 24 shall not exceed the percentage limits specified in section 21 (2). (2) This section applies to sections 21 , 22 , 23 and 32 . Total amount of grants. [1969, s. 42; 1981, s. 3. New in pt.] 34.—Without the prior permission of the Government the total amount of money granted under one or more of the following sections, namely, sections 21 , 22 , 23 and 32 , together with the capitalised value of a loan guarantee under section 24 , to or in respect of a particular industrial undertaking shall not exceed £2,500,000. Government's power in regard to industrial incentives. 35.—Where, under any of the preceding sections of this Part, the permission of the Government is required for the making of a grant or loan guarantee or the purchase of shares, the Government may, in lieu of granting such permission, grant permission to the Authority for the expenditure of a lower amount in respect of such grant, guarantee or purchase or may grant permission subject to such conditions as the Government may specify. [New] Authority's powers to value assets, etc. [1969, s. 43] 36.—For the purpose of making a grant or other payment under this Part, the Authority may, subject to the provisions of this Part, determine at its discretion the cost or value of assets of an industrial undertaking or the capital value of any payments made to or benefits received or receivable by an industrial undertaking. Contravention of term or condition attached to grant or other payment. [1969, s. 45] 37.—Whenever there is a contravention of a term or condition attached to a grant or other payment under this Part, the amount of such grant or payment shall be repayable to the Authority and in default of being so repaid may be recoverable by the Authority as a simple contract debt. PART IV Members and Staff Remuneration etc. of members of Authority. [1969, s. 24] 38.—The Chairman, Deputy Chairmen and other members of the Authority shall hold office on such terms and conditions (including remuneration) as the Minister with the consent of the Minister for the Public Service may determine. Staff of Authority. [1969, s. 26] 39.—(1) The Authority may appoint such and so many persons to be members of the staff of the Authority as it thinks proper from time to time. (2) A member of the staff of the Authority shall be employed on such terms and conditions as the Authority may from time to time determine. (3) The remuneration and allowances of the members of the staff of the Authority shall be determined from time to time by the Authority with the consent of the Minister and the concurrence of the Minister for the Public Service. Membership of Houses of Oireachtas or Assembly of European Communities. [1950, s. 4; 1969, ss. 25, 30. New in pt.] 40.—(1) Where a member of the Authority or of a board or committee, constituted by the Authority under this Act, is— (a) nominated as a member of Seanad Éireann, or (b) elected as a member of either House of the Oireachtas or of the Assembly of the European Communities, or (c) regarded pursuant to section 15 (inserted by the European Assembly Elections Act, 1984 ) of the European Assembly Elections Act, 1977 , as having been elected to such Assembly to fill a vacancy, he shall thereupon cease to be a member of the Authority, board or committee. (2) Where a member of the staff of the Authority is— (a) nominated as a member of Seanad Éireann, or (b) elected as a member of either House of the Oireachtas or of the Assembly of the European Communities, or (c) regarded pursuant to section 15 (inserted by the European Assembly Elections Act, 1984 ) of the European Assembly Elections Act, 1977 , as having been elected to such Assembly to fill a vacancy, he shall thereupon stand seconded from the staff of the Authority and shall not be paid by, or be entitled to receive from, the Authority any remuneration or allowances in respect of the period commencing on such nomination or election or when he is so regarded as having been elected, as the case may be, and ending when he ceases to be a member of either such House or such Assembly. (3) A person who is for the time being entitled under the Standing Orders of either House of the Oireachtas to sit therein or who is a member of the Assembly of the European Communities shall, while he is so entitled or is such a member, be disqualified from becoming a member of the Authority or of any of its boards or committees or from employment by the Authority. Superannuation of staff. [1969, ss. 27, 30; 1978, s. 3] 41.—(1) The Authority shall prepare and submit to the Minister a scheme or schemes for the granting of pensions, gratuities and other allowances on retirement or death to or in respect of such members of its staff as it may think fit. (2) Every such scheme shall fix the time and conditions of retirement for all persons to or in respect of whom pensions, gratuities or allowances on retirement or death are payable under the scheme, and different times and conditions may be fixed in respect of different classes of persons. (3) The Authority may at any time prepare and submit to the Minister a scheme amending a scheme previously submitted and approved of under this section. (4) A scheme submitted to the Minister under this section, shall, if approved of by the Minister with the concurrence of the Minister for the Public Service, be carried out by the Authority in accordance with its terms. (5) A scheme under a repealed Act shall continue in force and shall be deemed to be a scheme made under this section. (6) If any dispute arises as to the claim of any person to or the amount of, any pension, gratuity or allowance payable in pursuance of a scheme under this section, such dispute shall be submitted to the Minister who shall submit it to the Minister for the Public Service whose decision shall be final. (7) No pension, gratuity, allowance or other such payment shall be granted by the Authority on the resignation, retirement or death of an employee of the Authority, nor shall any other arrangement be entered into for provision of a pension, gratuity, allowance or other such payment to such persons on ceasing to hold office otherwise than in accordance with a scheme under this section. (8) Every scheme submitted and approved of under this section shall be laid before each House of the Oireachtas as soon as may be after it is approved of and if either House, within the next twenty-one days on which that House has sat after the scheme is laid before it, passes a resolution annulling the scheme, the scheme shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder. (9) The following provisions shall apply in relation to a member of the staff who stands seconded under section 40 (2) and who is a member of a scheme under this section: (a) the secondment period shall, for the purposes of the scheme, be deemed to be service of that person which is reckonable for superannuation benefits under the scheme if, but only if— (i) he was a permanent member of the staff of the Authority and was a contributor under the scheme immediately before the commencement of the secondment period, (ii) he elects, by notice in writing given to the Authority within three months after the commencement of the secondment period, to pay contributions under the scheme in respect of the secondment period in accordance with the provisions of this section, and (iii) he pays, at such times and in such manner as the person duly appointed to administer the scheme may specify, contributions under the scheme in respect of the secondment period equal in amount to the aggregate of the contributions which he would have paid and the contributions which the Authority would have paid in respect of the secondment period if he had remained without secondment a member of the staff of the Authority during the secondment period and had been in receipt of remuneration during the period, (b) the Authority shall not pay any contributions under the scheme in respect of the secondment period, but that part of the contributions payable by him as aforesaid which is equal to the amount of the contributions which the Authority would have paid under the scheme in respect of the secondment period if he had remained without secondment a member of the staff of the Authority during the secondment period and had been in receipt of remuneration during that period shall, for the purposes of the scheme, be deemed to have been paid by the Authority, (c) if the secondment period is terminated by his death or by his retirement from that staff, he shall, for the purposes of the scheme, be deemed to have died in or to have been retired from the staff of the Authority, as the case may be, and to have been in receipt of remuneration immediately before such death or retirement, as the case may be, (d) if he does not pay or if, having paid contributions under the scheme in accordance with the provisions of this subsection, he ceases to pay contributions as aforesaid, he shall, for the purposes of the scheme, be deemed to have resigned from that staff— (i) in case he ceases to pay contributions as aforesaid — on the date of the last payment, and (ii) in any other case — immediately before the commencement of the secondment period. (10) If a person who is or was a member of the staff of the Authority becomes entitled to a pension under the Ministerial and Parliamentary Offices Act, 1938 to 1977— (a) he shall not be entitled to reckon the whole or any part of his period of pensionable service, within the meaning of those Acts, for any superannuation benefits payable under a scheme to which this section applies, (b) if he has paid any contributions in accordance with the provisions of subsection (9) in respect of that period, so much thereof as is equal to the amount of the contributions which he would have paid in respect of that period under the scheme if he had remained without secondment a member of the staff of the Authority during that period and had been in receipt of remuneration during that period, shall be returned to him if and when a payment of benefit or a return of other contributions is made to him under the scheme. (11) A reference in subsection (9) or (10) to the receipt by any person of remuneration from the Authority shall be taken as a reference to the receipt by that person of remuneration from the Authority at the rate at which he was being remunerated on the day before his secondment. Disclosure of documents. [1969, s. 28. New in pt.] 42.—(1) The Authority shall not, without the consent of the Minister, disclose any document in its custody or under its control, production of which is sought in relation to any legal proceedings. (2) Where the Minister refuses his consent to the disclosure, the Authority shall be entitled to, and shall claim in the proceedings, the like privilege in respect of the document as the Minister would be entitled to claim if it were in his own custody. Disclosure of information. [1969, s. 29. New in pt.] 43.—(1) Subject to subsection (3), a person shall not disclose any information obtained by him— (a) while performing duties as a member of the Authority or of any board or committee of the Authority or as a member of the staff of, or adviser or consultant to, the Authority, or (b) as a member of or of the staff of any body consulted in pursuance of any provision of this Act, while performing duties relating to any such consultation. (2) A person who contravenes subsection (1) shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding £800. (3) Nothing in subsection (1) shall prevent— (a) disclosure of information in a report made to the Authority or (on behalf of the Authority) to the Minister, (b) disclosure of information by the Authority or by a member of the Authority or of any board or committee of the Authority for the purpose of a scheme of research or development or a scheme of acquisition of product or process technology. FIRST SCHEDULE The Industrial Development Authority Section 10 [1969, Sch. 2] Incorporation. 1. The Authority shall be a body corporate with perpetual succession and a common seal and power to sue and be sued in its corporate name and to acquire, hold and dispose of land. Membership. 2. (1) The Authority shall consist of not more than nine members. (2) The members of the Authority shall be appointed by the Minister with the consent of the Minister for Finance. (3) One member of the Authority shall be designated as Chairman by the Minister and two other members of the Authority may be designated by the Minister as Deputy Chairmen. (4) The Authority may act by any three of its members. (5) The Authority may regulate its own procedure. (6) A member of the Authority shall not be a member of a local authority. Period of office of members. [New] 3. (1) On every anniversary of the date of commencement of this paragraph one-fifth of the members of the Authority or, if their number is not five, then the number nearest one-fifth, shall retire from office. (2) The members to retire in every year shall be those who have been longest in office since their previous appointment, but as between persons who first became members on the same day, those to retire shall (unless they otherwise agree amongst themselves) be determined by lot. (3) A retiring member shall be eligible for re-appointment. (4) A member of the Authority who is in office on the date of commencement of this paragraph for a period then unexpired shall not be obliged by subparagraph (1) to retire before the completion of that period of office. Conditions of office. 4. (1) The Minister may with the consent of the Minister for Finance remove a member from office. (2) A member may resign his office by notice in writing to the Minister and the resignation shall take effect on the date on which the Minister receives the notice. (3) Where a member has any financial interest directly or indirectly in any industrial, commercial or service undertaking, he shall before exercising any functions as a member, declare the nature of such interest to the Authority and shall comply with such directions as the Authority may give him in regard to it. (4) A member shall be disqualified from holding and shall cease to hold office if he is adjudged bankrupt, or makes a composition or arrangement with his creditors, or is convicted of any indictable offence in relation to a company, or is convicted of an offence involving fraud or dishonesty, whether in connection with a company or not, or is the subject of an order under section 184 of the Companies Act, 1963 . (5) The conditions of office applicable to Authority members and set out in subparagraphs (3) and (4) shall apply to members of boards and committees constituted under this Act. Common seal. 5. (1) The common seal of the Authority shall when applied to a document be attested by the signature of two members or by the signature of a member and a member of the staff of the Authority authorised by it to act in that behalf or by the signature of two members of the staff of the Authority so authorised. (2) All courts of justice shall take judicial notice of the common seal of the Authority and every document purporting to be an instrument made by the Authority and to be sealed with the common seal and to be attested in accordance with this paragraph shall, unless the contrary is shown, be received in evidence and be deemed to be that instrument without further proof. Contracts and instruments. 6. Any contract or instrument which, if entered into or executed by an individual, would not require to be under seal may be entered into or executed on behalf of the Authority by any person generally or specially authorised by the Authority for that purpose. Annual Report and Accounts. 7. (1) The Authority shall submit in such form as the Minister may direct an annual report of its activities as soon as may be after the end of the financial year to which it refers and the Minister shall cause copies of the report to be laid before each House of the Oireachtas. (2) The Authority shall keep in such form as may be approved of by the Minister, with the consent of the Minister for Finance, all proper and usual accounts of money received and expended by it and, in particular, shall keep in such form as aforesaid all such special accounts as the Minister may from time to time direct. (3) The accounts of the Authority shall be submitted annually by the Authority to the Comptroller and Auditor General for audit at such times as the Minister, with the consent of the Minister for Finance shall direct and, when so audited, shall together with the report of the Comptroller and Auditor General thereon, be presented to the Minister who shall cause copies thereof to be laid before each House of the Oireachtas. Information. 8. The Authority shall supply to the Minister such information regarding its activities as he may from time to time require. SECOND SCHEDULE Provisions Relating to Exercise of Powers of Authority Section 16 [1952, Sch. 2; 1969, s. 8] Acquisition of Land Entry on land. etc., before conveyance. 1. (1) At any time before conveyance or ascertainment of price or compensation, the Authority may, subject to thi …