DAIRY PRODUCE (MISCELLANEOUS PROVISIONS) (AMENDMENT) ACT, 1984

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Number 3 of 1984


DAIRY PRODUCE (MISCELLANEOUS PROVISIONS) (AMENDMENT) ACT, 1984


ARRANGEMENT OF SECTIONS

Section

1.

Amendment of Dairy Produce (Miscellaneous Provisions) Act, 1973.

2.

Repeal.

3.

Short title and collective citation.


Acts Referred to

Dairy Produce (Miscellaneous Provisions) Act, 1973

1973, No. 21

Dairy Produce (Miscellaneous Provisions) (Amendment) Act, 1979

1979, No. 38


Number 3 of 1984


DAIRY PRODUCE (MISCELLANEOUS PROVISIONS) (AMENDMENT) ACT, 1984


AN ACT TO AMEND AND EXTEND THE DAIRY PRODUCE (MISCELLANEOUS PROVISIONS) ACT, 1973 . [6th March, 1984]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

Amendment of Dairy Produce (Miscellaneous Provisions) Act, 1973.

1.—The Dairy Produce (Miscellaneous Provisions) Act, 1973 is hereby amended by the substitution of the following section for section 6:

“6. (1) The Minister may, if he thinks fit and with the consent of the Minister for Finance, guarantee—

(a) a loan to the Society,

(b) payment of promissory notes made by the Society or bills of exchange drawn or accepted by the Society.

(2) Whenever the Minister gives a guarantee under this section, he may—

(a) in case it is a guarantee of a loan, guarantee, in such form and manner and in such money (including money in a currency other than the currency of the State) and on such terms and conditions as the Minister for Finance may sanction, the due repayment by the Society of the principal of the loan, or the payment of interest on the loan, or both the repayment of such principal and the payment of such interest,

(b) in case it is a guarantee of payment of a promissory note or bill of exchange, guarantee in such form and manner and in such money (including money in a currency other than the currency of the State) and on such terms and conditions as the Minister for Finance may sanction, the due payment of the promissory note or bill of exchange, as the case may be.

(3) The Minister shall not so exercise the powers conferred on him by subsections (1) and (2) of this section that the amount, or the aggregate amount, other than amounts in respect of interest, which he may at any one time be liable to pay on foot of any guarantee or guarantees under those subsections for the time being in force, together with the amounts, (if any) other than amounts in respect of interest, which the Minister has previously paid on foot of any such guarantees and which have not been repaid by the Society exceeds £90,000,000.

(4) Whenever the Minister guarantees a loan to the Society, or the payment of a promissory note or a bill of...

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