Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1979

In short

This law amends and extends previous Dairy Produce (Miscellaneous Provisions) Acts from 1973 to 1977, primarily by increasing the guarantee limit for loans to An Bord Bainne Co-operative Limited and clarifying the terms of these guarantees.

What it regulates

The maximum amount the Minister for Agriculture can guarantee for loans to An Bord Bainne Co-operative Limited.
The expiration date for guarantees made under section 6 of the Principal Act.
The form, manner, currency, terms, and conditions of loan guarantees.
The specific use of moneys obtained from guaranteed loans by An Bord Bainne Co-operative Limited.

Who it concerns

The Minister for Agriculture.
An Bord Bainne Co-operative Limited.

Key points

The Minister for Agriculture's liability for guaranteed loans to An Bord Bainne Co-operative Limited shall not exceed £90,000,000.
All guarantees under section 6 of the Principal Act will expire on December 31, 1983, unless revoked or extinguished sooner.
Guarantees can be made in any currency, not just the currency of the State, and on terms sanctioned by the Minister for Finance.
Moneys from guaranteed loans must be used solely by An Bord Bainne Co-operative Limited for the acquisition, transportation, storage, and insurance of dairy produce in its ordinary business.

Legal text

Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1979 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.

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s)or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1979 Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1979 Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1979 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 38 of 1979 DAIRY PRODUCE (MISCELLANEOUS PROVISIONS) (AMENDMENT) ACT, 1979 ARRANGEMENT OF SECTIONS Section 1. Definition. 2. Increase of amount of guarantee of loans to An Bord Bainne Co-operative Limited. 3. Extension of guarantees under section 6 of Principal Act. 4. Amendment of section 6 of Principal Act. 5. Repeals. 6. Short title and collective citation. Number 38 of 1979 DAIRY PRODUCE (MISCELLANEOUS PROVISIONS) (AMENDMENT) ACT, 1979 AN ACT TO AMEND AND EXTEND THE DAIRY PRODUCE (MISCELLANEOUS PROVISIONS) ACTS, 1973 TO 1977. [26th December, 1979] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: Definition. 1.—In this Act “the Principal Act” means the Dairy Produce (Miscellaneous Provisions) Act, 1973 . Increase of amount of guarantee of loans to An Bord Bainne Co-operative Limited. 2.—The Minister for Agriculture shall not so exercise the powers conferred on him by sections 6

(1)and 6

(2)of the Principal Act that the amount, or the aggregate amount, of principal which he may at any one time be liable to pay on foot of any guarantee or guarantees under those sections for the time being in force, together with the amount of principal (if any) which that Minister has previously paid on foot of any such guarantees and which has not been repaid by An Bord Bainne Co-operative Limited, exceeds £90,000,000 and, accordingly section 6

(3)of the Principal Act shall be construed as if that sum were substituted for the sum mentioned therein. Extension of guarantees under section 6 of Principal Act. 3.—Every guarantee under section 6 of the Principal Act shall, unless it is sooner revoked or extinguished, expire on the 31st day of December, 1983. Amendment of section 6 of Principal Act. 4.—

(1)The following subsections are hereby substituted for sections 6

(2)and 6

(5)of the Principal Act: “

(2)Whenever the Minister guarantees a loan under this section, he may guarantee in such form and manner and in such money (including money in a currency other than the currency of the State) and on such terms and conditions as the Minister for Finance may sanction, the due repayment by the Society of the principal of the loan or the payment of interest on the loan, or both the repayment of such principal and the payment of such interest.

(5)Moneys obtained by the Society on foot of a loan guaranteed under this section shall be used solely by the Society for the acquisition, transportation, storage and insurance, in the course of its ordinary business, of dairy produce.”.

(2)The following subsection is hereby inserted after subsection

(11)of section 6 of the Principal Act: “

(12)In relation to a guarantee under this section in a currency other than the currency of the State— (a) each of the references to principal in subsections

(3)and

(7)shall be taken as referring to the equivalent in the currency of the State of the actual principal, such equivalent being calculated according to the rate of exchange at the time of the giving of the guarantee; (b) the reference to moneys in subsection

(9)shall be taken as referring to the cost in the currency of the State of the actual money paid.”. Repeals. 5.—The Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1976 , and the Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1977 , are hereby repealed. Short title and collective citation. 6.—

(1)This Act may be cited as the Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1979.

(2)The Principal Act and this Act may be cited together as the Dairy Produce (Miscellaneous Provisions) Acts, 1973 and 1979. Acts Referred to Dairy Produce (Miscellaneous Provisions) Act, 1973 1973, No. 21 Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1976 1976, No. 19 Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1977 1977, No. 23 Privacy Statement Accessibility European Legislation Identifier (PDF) Open Data License Ráiteas Príobháideachais Inrochtaineacht Aitheantóir Eorpach Reachtaíochta (ELI) Ceadúnas Sonraí Oscailte Liosta Fianán © Government of Ireland. Oireachtas Copyright Material is reproduced with the permission of the Houses of the Oireachtas © Rialtas na hÉireann. Atáirgtear ábhar faoi Chóipcheart le cead ó Thithe an Oireachtais

AI explanation based on the official legal text. Indicative, not a substitute for legal advice.