I mbeagán focal
This law allows the Minister for Finance to waive the repayment of loans, including principal and interest, that were advanced under the Local Loans Fund Act, 1935. It also requires the Minister to report these waivers to the Oireachtas.
Cad a rialaíonn sé
- The power of the Minister for Finance to waive repayment of local loans.
- The requirement for the Minister for Finance to provide statements to each House of the Oireachtas regarding waived loans.
- The specific information to be included in these statements about the waived loans.
- The repeal of certain sections from the Local Loans Fund Act, 1935, and the Housing (Miscellaneous Provisions) Act, 1979.
Cé dó a mbaineann sé
- The Minister for Finance.
- Recipients of local loans under the Local Loans Fund Act, 1935.
- Each House of the Oireachtas.
Príomhphointí
- The Minister for Finance can waive the whole or part of the repayment of a local loan, including principal and interest, if deemed desirable.
- This waiver can apply to sums advanced before or after the passing of this Act.
- The Minister must periodically present a statement to each House of the Oireachtas.
- Each statement must specify for each category of waived local loan: the total number of loans, the total amount advanced, the total amount of principal waived, and the total amount of interest waived.
📄 Legal text
Local Loans Fund (Amendment) Act, 1987
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1987
Local Loans Fund (Amendment) Act, 1987
Local Loans Fund (Amendment) Act, 1987
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Number 19 of 1987
LOCAL LOANS FUND (AMENDMENT) ACT, 1987
ARRANGEMENT OF SECTIONS
Section
1.
Waiver of sums advanced under Local Loans Fund Act, 1935.
2.
Statement by Minister for Finance.
3.
Repeals.
4.
Short title and collective citation.
Acts Referred to
Housing (Miscellaneous Provisions) Act, 1979
1979, No. 27
Local Loans Fund Act, 1935
1935, No. 16
Number 19 of 1987
LOCAL LOANS FUND (AMENDMENT) ACT, 1987
AN ACT TO EMPOWER THE MINISTER FOR FINANCE TO WAIVE REPAYMENT OF LOANS UNDER THE
LOCAL LOANS FUND ACT, 1935
: AND TO PROVIDE FOR MATTERS CONNECTED THEREWITH. [9th November, 1987]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:
Waiver of sums advanced under Local Loans Fund Act, 1935.
1.—Where any sum is, or, before the passing of this Act, has been, advanced on foot of a local loan under
section 4
of the
Local Loans Fund Act, 1935
, the Minister for Finance may, if it seems to him desirable so to do, direct that repayment of the whole, or such part as the Minister may specify, of—
(a) such sum, or
(b) the balance at the time of the direction remaining unpaid,
be waived together with the whole, or such part as may be so specified, of the interest on such sum then unpaid.
Statement by Minister for Finance.
2.—(1) The Minister for Finance shall, from time to time, lay before each House of the Oireachtas a statement in accordance with subsection (2) of this section.
(2) Every statement of the Minister pursuant to this section shall specify, in relation to each category of local loan under
section 4
of the
Local Loans Fund Act, 1935
, the repayment of loans in which category has, pursuant to
section 1
of this Act, been waived in whole or in part, the following matters:—
(a) the total number of such loans;
(b) the total amount advanced in respect of such loans;
(c) the total amount of principal, the repayment of which is being waived pursuant to the said
section 1
; and
(d) the total amount of interest, the repayment of which is being waived pursuant to the said
section 1
.
Repeals.
3.—
Section 14
of the
Local Loans Fund Act, 1935
, and
section 10
(6) of the
Housing (Miscellaneous Provisions) Act, 1979
, are hereby repealed.
Short title and collective citation.
4.—(1) This Act may be cited as the Local Loans Fund (Amendment) Act, 1987.
(2) The Local Loans Fund Acts, 1935 to 1986, and this Act may be cited together as the Local Loans Fund Acts, 1935 to 1987.
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