28 1951

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Number 28 of 1951.


GRAIN STORAGE (LOANS) ACT, 1951.


ARRANGEMENT OF SECTIONS

Section

1.

The Minister.

2.

Loans for the provision and equipment of storage for grain.

3.

Limit on total amount of loans.

4.

Discretion of Minister and sanction of Minister for Finance.

5.

Terms and conditions of loans.

6.

Annual statement of loans.

7.

Payment of certain sums into the Exchequer.

8.

Expenses.

9.

Short title.

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Number 28 of 1951.


GRAIN STORAGE (LOANS) ACT, 1951.


AN ACT TO PROVIDE FOR THE GRANT OF LOANS FOR THE PROVISION AND EQUIPMENT OF STORAGE FOR GRAIN. [26th December, 1951.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

The Minister.

1. —In this Act, “the Minister” means the Minister for Agriculture.

Loans for the provision and equipment of storage for grain.

2. —The Minister may grant, out of moneys provided by the Oireachtas, loans for the provision and equipment of storage for grain.

Limit on total amount of loans.

3. —The total amount of the loans granted under this Act shall not exceed two million, five hundred thousand pounds.

Discretion of Minister and sanction of Minister for Finance.

4. —The granting of loans under this Act shall be at the discretion of the Minister, but a loan shall not be granted save with the sanction of the Minister for Finance.

Terms and conditions of loans.

5. —A loan under this Act shall be granted upon such terms and conditions as to time and manner of repayment, rate of interest, security and any other matter whatsoever as the Minister, with the approval of the Minister for Finance, considers proper.

Annual statement of loans.

6. —As soon as may be after the expiration of each financial year, the Minister shall lay before each House of the Oireachtas a statement showing the total of all sums advanced under this Act up to the end of that financial year and showing the loans granted under this Act which stood not fully repaid at the expiration of that financial year, and the statement shall show, as respects each loan, the terms and conditions on which the loan was granted and the amount repaid thereon before the expiration of that financial year.

Payment of certain sums into the Exchequer.

7. —(1) All sums received in repayment of money advanced under this Act shall be paid into the Exchequer.

(2) All sums received in payment of interest on a loan granted under this Act shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister for Finance may direct.

Expenses.

8. —The expenses incurred by the Minister in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas.

Short title.

9. —This Act may be cited as the Grain Storage (Loans) Act, 1951.