In short
This law amends the Approved Investments Act, 1933, primarily by extending certain time limits mentioned in that earlier Act and allowing for future extensions of these limits.
What it regulates
- The duration of specific periods mentioned in sections 6 and 7 of the Approved Investments Act, 1933.
- The duration of a specific period mentioned in section 9 of the Approved Investments Act, 1933.
- The power of the Minister for Finance to further extend these periods.
Who it concerns
- The Minister for Finance.
- The Investments Advisory Committee.
Key points
- The "two years" period in sections 6(1), 6(2), and 7(1) of the Principal Act is extended to "four years".
- The "two years and six months" period in section 9(3) of the Principal Act is extended to "four years and six months".
- The Minister for Finance, after consulting with the Chairman of the Investments Advisory Committee, can further extend these periods.
- Any such extension by the Minister will amend the relevant sub-section of the Principal Act as if the new extended period was originally stated.
đ Legal text
Approved Investments (Amendment) Act, 1935
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1935
Approved Investments (Amendment) Act, 1935
Approved Investments (Amendment) Act, 1935
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Number 31 of 1935.
APPROVED INVESTMENTS (AMENDMENT) ACT, 1935.
ARRANGEMENT OF SECTIONS
Section
1.
Definitions.
2.
Extension of periods in sections 6 and 7 of the Principal Act.
3.
Extension of period in section 9 of the Principal Act.
4.
Provision for further extensions of periods in the Principal Act.
5.
Short title.
Act Referred to
Approved Investments Act, 1933
No. 34 of 1933
Number 31 of 1935.
APPROVED INVESTMENTS (AMENDMENT) ACT, 1935.
AN ACT TO AMEND THE
APPROVED INVESTMENTS ACT, 1933
, BY EXTENDING CERTAIN LIMITING PERIODS MENTIONED THEREIN AND BY MAKING PROVISION FOR FURTHER EXTENSIONS OF ALL OR ANY OF SUCH PERIODS. [2nd August, 1935.]
BE IT ENACTED BY THE OIREACHTAS OF SAORSTĂT EIREANN AS FOLLOWS:â
Definitions.
1.âIn this Act,
the expression âthe Principal Actâ means the
Approved Investments Act, 1933
(No. 34 of 1933);
the expression âthe Ministerâ means the Minister for Finance.
Extension of periods in sections 6 and 7 of the Principal Act.
2.âThe period of two years from the passing of the Principal Act mentioned in sub-section (1) of
section 6
of the Principal Act, and the like period mentioned in sub-section (2) of the said
section 6
, and the like period mentioned in sub-section (1) of
section 7
of the said Act are hereby severally extended by two years, and for that purpose the said sub-sections (1) and (2) of the said
section 6
and sub-section (1) of the said
section 7
are hereby severally amended by the substitution of the words âfour yearsâ for the words âtwo yearsâ wherever the latter words occur in those sub-sections respectively, and the said
sections 6
and
7
shall be construed and have effect accordingly.
Extension of period in section 9 of the Principal Act.
3.âThe period of two years and six months from the passing of the Principal Act mentioned in sub-section (3) of
section 9
of the Principal Act is hereby extended by two years, and for that purpose the said sub-section (3) of the said
section 9
is hereby amended by the substitution of the words âfour years and six monthsâ for the words âtwo years and six monthsâ now contained in the said sub-section, and the said
section 9
shall be construed and have effect accordingly.
Provision for further extensions of periods in the Principal Act.
4.â(1) The Minister may, whenever and so often as he shall think proper, by order made after consultation with the Chairman of the Investments Advisory Committee extend by such period as he shall think fit and shall specify in such order all or any of the following periods, that is to say, the several periods of four years from the passing of the Principal Act respectively mentioned in sub-sections (1) and (2) of
section 6
and sub-section (1) of
section 7
of the Principal Act as amended by this Act, and the period of four years and six months from the passing of the Principal Act mentioned in sub-section (3) of
section 9
of the Principal Act as amended by this Act.
(2) Whenever the Minister makes an order under this section extending any of the periods mentioned in the foregoing sub-section of this section, the sub-section of the Principal Act (as amended by this Act) in which such period is mentioned shall be construed and have effect as if the said period as extended by such order were substituted in such sub-section (as so amended) for the period actually mentioned therein.
Short title.
5.âThis Act may be cited as the Approved Investments (Amendment) Act, 1935.
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