Agricultural Credit Act, 1975

In short

This law, the Agricultural Credit Act, 1975, updates previous agricultural credit laws, primarily by increasing the maximum amount of money that can be borrowed and guaranteed for agricultural purposes.

What it regulates

The maximum amount of money the Corporation can borrow.
The maximum amount the Minister can guarantee for loans.
The remuneration of the chief officer of the Corporation.
How certain monies related to the Agricultural Credit Act, 1972, are handled by the Minister.

Who it concerns

The Corporation (Agricultural Credit Corporation).
The Minister (likely the Minister for Finance, though not explicitly stated in the provided text).

Key points

The maximum amount of money the Corporation can borrow and have outstanding at any one time is increased from one hundred and twenty million pounds to two hundred and twenty million pounds.
The maximum amount of principal the Minister can be liable for under guarantees is also increased to two hundred and twenty million pounds.
The Corporation's chief officer's pay and allowances are determined by the Corporation with the consent of the Minister for the Public Service.
The Corporation is allowed to change its memorandum and articles of association to align with this Act.

Legal text

Agricultural Credit Act, 1975 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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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 1975 Agricultural Credit Act, 1975 Agricultural Credit Act, 1975 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 17 of 1975 AGRICULTURAL CREDIT ACT, 1975 ARRANGEMENT OF SECTIONS Section 1. Definitions. 2. Amendment of section 3 of Act of 1965. 3. Amendment of section 4 of Act of 1965. 4. Remuneration of chief officer of Corporation. 5. Provision in relation to moneys paid by or to Minister pursuant to section 7 of Agricultural Credit Act, 1972. 6. Alteration of memorandum and articles of association of Corporation. 7. Short title, construction and collective citation. Acts Referred to Agricultural Credit Act, 1965 1965, No. 12 Agricultural Credit Act, 1973 1973, No. 31 Agricultural Credit Act, 1972 1972, No. 3 Number 17 of 1975 AGRICULTURAL CREDIT ACT, 1975 AN ACT TO AMEND AND EXTEND THE AGRICULTURAL CREDIT ACTS, 1927 TO 1973. [29th July, 1975] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: Definitions. 1.—In this Act— “the Act of 1965” means the Agricultural Credit Act, 1965 ; “the Act of 1973” means the Agricultural Credit Act, 1973 . Amendment of section 3 of Act of 1965. 2.—Section 3

(1)of the Act of 1965 (as amended by section 2 of the Act of 1973) is hereby amended by the substitution of “two hundred and twenty million pounds” for “one hundred and twenty million pounds” and the said section 3

(1), as so amended, is set out in the Table to this section. TABLE 3.—

(1)The amount of money raised or borrowed by the Corporation under the Acts or this Act and outstanding at any one time shall not exceed two hundred and twenty million pounds. Amendment of section 4 of Act of 1965. 3.—Section 4 of the Act of 1965 (as amended by section 3 of the Act of 1973) is hereby amended by the substitution of “two hundred and twenty million pounds” for “one hundred and twenty million pounds” and the said section 4, as so amended, is set out in the Table to this section. TABLE 4.—The amount, or the aggregate amount, of principal which the Minister may at any one time be liable to pay on foot of any guarantee or guarantees under subsection

(1)of section 5 of the Act of 1961 for the time being in force, together with the amount of principal (if any) which the Minister has previously paid on foot of any such guarantees and which has not been repaid by the Corporation shall not exceed two hundred and twenty million pounds and, accordingly, subsection

(2)of that section shall be construed as if that sum were substituted for the sum mentioned therein. Remuneration of chief officer of Corporation. 4.—There shall be paid by the Corporation to its chief officer such remuneration and allowances as the Corporation, with the consent of the Minister for the Public Service, shall determine. Provision in relation to moneys paid by or to Minister pursuant to section 7 of Agricultural Credit Act, 1972. 5.—Any moneys paid by the Minister pursuant to section 7 of the Agricultural Credit Act, 1972 , shall be charged on and payable out of the Central Fund or the growing produce thereof and any moneys received by the Minister pursuant to that section shall be paid into or disposed of for the benefit of the Exchequer. Alteration of memorandum and articles of association of Corporation. 6.—It shall be lawful for the Corporation to make such alterations in the memorandum and articles of association of the Corporation as are necessary to make them consistent with this Act. Short title, construction and collective citation. 7.—

(1)This Act may be cited as the Agricultural Credit Act, 1975.

(2)The Agricultural Credit Acts, 1927 to 1973, and this Act shall be construed together as one Act.

(3)The Agricultural Credit Acts, 1927 to 1973, and this Act may be cited together as the Agricultural Credit Acts, 1927 to 1975. 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.