Industrial Development Act, 1993
What is this act about?
This law establishes new bodies to promote industrial and technological development in the State and to encourage investment in industrial undertakings from both within and outside the State. It aims to stimulate and encourage economic growth through these new entities.
Who it applies to: Forfás, Forbairt, and the Industrial Development Agency (Ireland) (IDA); Industrial undertakings, both existing within the State and those seeking to establish there.
At a glance
- Country
- Ireland
- Area of law
- Other legislation
- Articles
- 21
- Source
- irishstatutebook.ie
- Text retrieved
- Explanation updated
What does this act regulate?
- The establishment and functions of Forfás, Forbairt, and the Industrial Development Agency (Ireland) (IDA).
- The transfer of functions previously held by the Industrial Development Authority and Eolas to these new bodies.
- The provision of grants to Forfás and its Agencies for their operations and to meet obligations.
- Limits on the financial incentives that can be provided to industrial undertakings.
Who does this act apply to?
- Forfás, Forbairt, and the Industrial Development Agency (Ireland) (IDA).
- Industrial undertakings, both existing within the State and those seeking to establish there.
- The Minister for Enterprise and Employment and the Minister for Finance.
What are the key points?
- Forfás, Forbairt, and IDA are established to carry out functions related to industrial development.
- Forfás advises the Minister on industrial development and coordinates policy for Forbairt, IDA, and other designated bodies.
- Forbairt focuses on developing industry within the State and strengthening its technological base.
- IDA promotes the establishment and development of industrial undertakings from outside the State.
- Grants to Forfás and the Agencies (excluding certain types) shall not exceed £750,000,000 in aggregate.
- Financial incentives to a single industrial undertaking require Government permission if they exceed £2,500,000.
Other legislation
Legal text
Legal text
Industrial Development Act, 1993 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 1993 Industrial Development Act, 1993 Industrial Development Act, 1993 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 Print Full ActPriontáil an tAcht Iomlán Number 19 of 1993 INDUSTRIAL DEVELOPMENT ACT, 1993 ARRANGEMENT OF SECTIONS
PART I
Preliminary Section
Section 1
Short title, construction and collective citation.
Section 2
Interpretation.
Section 3
Expenses.
Section 4
Repeals.
PART II
Forfás and Agencies
Section 5
Establishment of Forfás, Forbairt and IDA.
Section 6
Functions of Forfás.
Section 7
Functions of Forbairt.
Section 8
Functions of IDA.
Section 9
Functions formerly exercised by the Industrial Development Authority and Eolas.
Section 10
Delegation of functions.
Section 11
Grants to Forfás and the Agencies.
Section 12
Industrial incentives.
Section 13
Review of industrial performance and policy.
PART III
Transitional Provisions
Section 14
Transfer of land.
Section 15
Transfer of other property.
Section 16
Transfer of rights and liabilities.
Section 17
Exemption from stamp duty.
Section 18
Dissolution of Industrial Development Authority and Eolas.
Section 19
Final accounts of dissolved bodies.
Section 20
Pending legal proceedings.
Section 21
Staff.
FIRST SCHEDULE Forfás and the Agencies SECOND SCHEDULE Members and Staff THIRD SCHEDULE Enactments Repealed Acts Referred to Companies Act, 1990 1990, No. 33 European Assembly Elections Act, 1977 1977, No. 30 European Assembly Elections Act, 1984 1984, No. 6 Finance Act, 1895 58 & 59 Vict. c. 16 Industrial Development Act, 1986 1986, No. 9 Industrial Development (Amendment) Act, 1991 1991, No. 9 Industrial Research and Standards Act, 1961 1961, No. 20 Industrial Research and Standards (Amendment) Act, 1979 1979, No. 33 Local Government Act, 1941 1941, No. 30 Science and Technology Act, 1987 1987, No. 30 Shannon Free Airport Development Company Limited (Amendment) Act, 1970 1970, No. 9 Number 19 of 1993 INDUSTRIAL DEVELOPMENT ACT, 1993 AN ACT TO MAKE FURTHER PROVISION FOR THE DEVELOPMENT OF INDUSTRY AND TECHNOLOGY AND TO STIMULATE AND ENCOURAGE INVESTMENT IN INDUSTRIAL UNDERTAKINGS FROM SOURCES WHETHER WITHIN OR OUTSIDE OF THE STATE AND FOR THOSE PURPOSES TO ESTABLISH NEW BODIES TO BE KNOWN AS FORFÁS, FORBAIRT AND THE INDUSTRIAL DEVELOPMENT AGENCY (IRELAND) AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [6th July, 1993] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
PART I
Preliminary Short title, construction and collective citation.
1.—(1) This Act may be cited as the Industrial Development Act, 1993.
Interpretation.
2.—(1) In this Act, unless the context otherwise requires— “the Act of 1986” means the Industrial Development Act, 1986 ; “the Act of 1987” means the Science and Technology Act, 1987 ; “Agency” means Forbairt or IDA; “Board” means the Board of Forfás or either Agency; “dissolved body” means the Industrial Development Authority or Eolas; “establishment day” has the meaning assigned to it by section 5 ; “Forbairt” means the Agency established in that name by section 5 ; “Forfás” means the Agency established in that name by section 5 ; “IDA” means the Agency established by section 5 in the name of the Industrial Development Agency (Ireland); “the Minister” means the Minister for Enterprise and Employment.
Expenses.
3.—The expenses incurred 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.
4.—Every enactment referred to in column (2) of the Third Schedule to this Act is hereby repealed with effect from the establishment day to the extent mentioned in column (3) of that Schedule.
PART II
Forfás and Agencies Establishment of Forfás, Forbairt and IDA.
5.—(1) There shall stand established, on such day as the Minister may by order appoint (“the establishment day”), a body to be known as Forfás and two agencies of Forfás, to be known respectively as Forbairt and the Industrial Development Agency (Ireland) (“IDA”), to carry out the functions assigned to them by this Act.
Functions of Forfás.
6.—(1) The functions of Forfás shall be— (a) to advise the Minister on matters relating to the development of industry in the State, (b) to advise on the development and co-ordination of policy for Forbairt, IDA, An Bord Tráchtála and such other bodies as the Minister may designate, (c) to encourage the development of industry and technology in the State, (d) to encourage the establishment and development in the State of industrial undertakings from outside the State, and (e) to advise and co-ordinate Forbairt and IDA in relation to their functions.
Functions of Forbairt.
7.—The functions of Forbairt shall be, as an agency of Forfás— (a) to develop industry in the State, (b) to strengthen the technological base and the capacity of industry to innovate, (c) to provide services which support such development, (d) to make investments in and provide supports to industrial undertakings which comply with the requirements of the enactments for the time being in force, (e) to administer such schemes, grants and other financial facilities requiring the disbursement of European Community Funds as may from time to time be authorised by the Minister with the concurrence of the Minister for Finance, and (f) to carry out such other functions as may from time to time be assigned to it by Forfás with the consent of the Minister.
Functions of IDA.
8.—The functions of IDA shall be, as an agency of Forfás— (a) to promote the establishment and development, in the State, of industrial undertakings from outside the State, (b) to make investments in and provide supports to industrial undertakings which comply with the requirements of the enactments for the time being in force, (c) to administer such schemes, grants and other financial facilities requiring the disbursement of European Community Funds as may from time to time be authorised by the Minister with the concurrence of the Minister for Finance, and (d) to carry out such other functions as may from time to time be assigned to it by Forfás with the consent of the Minister.
Functions formerly exercised by the Industrial Development Authority and Eolas.
9.—(1) Subject to subsection (2), the powers and functions of the Industrial Development Authority, as specified in the Act of 1986, and the powers and functions of Eolas, as specified in the Industrial Research and Standards Act, 1961 and in the Act of 1987, shall be vested in Forfás and may, to such an extent and in accordance with such directions as the Minister may from time to time determine, be assigned to and exercised by Forbairt or IDA as the case may be.
Delegation of functions.
10.—(1) Any function exercised by Forfás and either Agency may, without prejudice to their general responsibilities under this Act, be performed through or by any member of staff duly authorised in that behalf.
Grants to Forfás and the Agencies.
11.—(1) There may be paid by the Minister to Forfás and each Agency, out of moneys provided by the Oireachtas, grants of such amounts as the Minister, with the consent of the Minister for Finance, may sanction— (a) to enable Forfás and each Agency to meet its administration and general expenses, and (b) to discharge its obligations and liabilities.
Industrial incentives.
12.—(1) Without the prior permission of the Government, the total amount of money granted to a particular industrial undertaking under any section referred to in section 34 of the Act of 1986 shall not exceed in the aggregate the higher of— (a) £2,500,000, or (b) £2,500,000 in excess of the aggregate amount of grants for which the prior permission of the Government has previously been obtained.
Review of industrial performance and policy.
13.—The Minister shall, within three years from the passing of this Act, and in every third year thereafter, prepare a review of national industrial performance in respect of the previous three years and of national industrial policy and shall cause the review and the conclusions arising therefrom to be laid before the Houses of the Oireachtas.
PART III
Transitional Provisions Transfer of land.
14.—On the establishment day, all land which, immediately before that day, was vested in the Industrial Development Authority or Eolas and all rights, powers and privileges relating to or connected with such land shall, without any conveyance or assignment, stand vested in Forfás for all the estate or interest for which immediately before the establishment day it was vested in either such dissolved body but subject to all trusts and equities affecting the land subsisting and capable of being performed.
Transfer of other property.
15.—On the establishment day all property other than land, including choses-in-action, which immediately before that day was the property of either dissolved body shall stand vested in Forfás without any assignment.
Transfer of rights and liabilities.
16.—(1) All rights and liabilities of a dissolved body arising by virtue of any contract or commitment (expressed or implied) entered into by that body before the establishment day shall on that day stand transferred to Forfás.
Exemption from stamp duty.
17.—
Section 12
of the Finance Act, 1895 shall not apply to the vesting of any property or rights transferred by this Act.
Dissolution of Industrial Development Authority and Eolas.
18.—On the establishment day, the Industrial Development Authority and Eolas shall stand dissolved.
Final accounts of dissolved bodies.
19.—Final accounts of each dissolved body shall be drawn up in such form as may be approved of by the Minister, and such accounts shall be laid before each House of the Oireachtas.
Pending legal proceedings.
20.—Any legal proceedings pending on the establishment day in any court or tribunal to which a dissolved body is a party shall continue with the substitution of Forfás for such party and shall not abate by reason of such substitution.
Staff.
21.—Forfás shall accept into its employment on the establishment day, in accordance with the terms of this Act, every person who immediately before that day was a member of the staff of the Industrial Development Authority or Eolas (“the dissolved bodies”) on terms and conditions not less favourable than those applicable to that person immediately before the transfer.
FIRST SCHEDULE Forfás and the Agencies
Section 5
.
Incorporation.
Membership.
Period of office of members.
Conditions of office.
The seals.
Contracts and instruments.
Annual report and accounts.
Information.
SECOND SCHEDULE Members and Staff
Section 5
.
Chief Executive Officers.
Staff of Forfás.
Superannuation.
Disclosure of documents.
Disclosure of information.
THIRD SCHEDULE Enactments Repealed
Section 4
.
Year and Number Enactment Extent of Repeal
(1)
(2)
Part III,
sections 32 and 37 No. 33 of 1979 Industrial Research and Standards (Amendment) Act, 1979 The whole Act No. 9 of 1986 Industrial Development Act, 1986 Sections 6 , 10