Local Loans Fund (Amendment) Act, 1961

Local Loans Fund (Amendment) Act, 1961 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 1961 Local Loans Fund (Amendment) Act, 1961 Local Loans Fund (Amendment) Act, 1961 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 45 of 1961. LOCAL LOANS FUND (AMENDMENT) ACT, 1961. ARRANGEMENT OF SECTIONS Section 1. Definitions. 2. Increase of limit on issues from the local loans fund. 3. Security for local loans. 4. Short title and collective citation. Acts Referred to Local Loans Fund (Amendment) Act, 1957 1957, No. 25 Local Loans Fund Act, 1935 1935, No. 16 Local Government Act, 1941 1941, No. 23 Vocational Education Act, 1930 1930, No. 29 Number 45 of 1961. LOCAL LOANS FUND (AMENDMENT) ACT, 1961. AN ACT TO AMEND THE LOCAL LOANS FUND ACTS, 1935 TO 1957. [20th December, 1961.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— Definitions. 1.—In this Act— “the fund” means the local loans fund; “the Minister” means the Minister for Finance. Increase of limit on issues from the local loans fund. 2.— Section 1 of the Local Loans Fund (Amendment) Act, 1957 , is hereby repealed and in lieu thereof it is hereby enacted that the aggregate amount of the moneys issued from the fund in respect of local loans during the period mentioned in subsection (3) of section 4 of the Local Loans Fund Act, 1935 , shall not exceed the sum of one hundred and seventy million pounds. Security for local loans. 3.—(1) Upon the issue of a local loan (or the first instalment thereof) from the fund to a local authority, pursuant to an undertaking in writing of the Minister, the Commissioners of Public Works in Ireland, or any other person acting on the direction or with the authority of the Minister (in this section referred to as the lender) to make, upon the terms and subject to the conditions specified in the undertaking, a local loan of an amount specified in the undertaking to the local authority upon the security of the revenues or funds of the local authority specified in the undertaking, the local authority shall be deemed to have given a mortgage by deed to the lender— (a) containing a covenant to repay to the lender the loan (or the instalments thereof which have been issued from the fund) at the place, time and in the manner specified in the undertaking, to pay the interest payable thereon at the rate provided for and at the place, time and in the manner specified in the undertaking and to observe any other terms and conditions specified therein, and (b) assigning or conveying the revenues or funds of the local authority specified in the undertaking to the lender to hold unto the lender until the repayment of the loan (or the instalments thereof which have been issued from the fund) and the payment of the interest payable thereon. (2) A certificate purporting to be executed by the lender stating that— (a) on a date specified in the certificate a local loan or portion of a local loan was issued from the fund to a local authority by the lender, and (b) on a date specified in the certificate a sum specified in the certificate is owed by the local authority to the lender in respect of the loan or the portion or in respect of the interest payable on the loan or the portion (including any interest payable pursuant to section 15 of the Local Loans Fund Act, 1935) or in respect of both such loan or portion and such interest, or (c) the loan or portion has been repaid to the lender and the interest payable on the loan or portion has been paid to the lender, shall be evidence until the contrary is proved of the facts stated in the certificate. (3) In this section “local authority” has the meaning assigned to it by virtue of the Local Government Act, 1941 , but includes a vocational education committee within the meaning of the Vocational Education Act, 1930 . Short title and collective citation. 4.—(1) This Act may be cited as the Local Loans Fund (Amendment) Act, 1961. (2) The Local Loans Fund Acts, 1935 to 1957, and this Act may be cited together as the Local Loans Fund Acts, 1935 to 1961. 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