No. 48/1956:

INDUSTRIAL GRANTS ACT, 1956

ARRANGEMENT OF SECTIONS

1 Definitions.

2 Grants for industry.

3 Grants to Authority.

4 Supplementary provisions.

5 Expenses of Minister.

6 Short title.

SCHEDULE

AN ACT TO PROVIDE FOR THE MAKING OF GRANTS IN AID OF INDUSTRIAL DEVELOPMENT IN AREAS OTHER THAN AREAS TO WHICH THE UNDEVELOPED AREAS ACT, 1952 , APPLIES, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID.

[27th December, 1956.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

1.—In this Act—

"the Authority" means the Industrial Development Authority;

" the Minister" means the Minister for Industry and Commerce.

2.—(1) Whenever the Authority are of opinion that the manufacture of a particular commodity to a substantial extent in the State would be in the interests of the national economy and would be likely—

( a ) to provide employment on a substantial scale, or

( b ) to make available in the State substantial quantities of the commodity, or

( c ) to provide an opportunity for developing an export trade,

the Authority, if satisfied that financial assistance is necessary to ensure the establishment of an industrial undertaking to manufacture the commodity to a substantial extent and that the undertaking will be of a reasonably permanent nature and will be carried on efficiently, may, on such terms as they think proper, make grants towards the cost of the acquisition, construction and adaptation of the buildings and other works required for the purpose of the undertaking.

(2) The total amount so granted shall not in the case of any undertaking exceed two-thirds of such cost or the sum of fifty thousand pounds, whichever is the lesser amount.

(3) The Authority, in considering applications for grants under this section, shall have regard to the extent to which the requirements of the public in respect of the commodities to be manufactured are sufficiently met by undertakings already established.

(4) Grants shall not be made under this section in respect of the establishment of undertakings in an area to which the Undeveloped Areas Act, 1952 (No. 1 of 1952), applies.

(5) No grant shall be sanctioned by the Authority after the 31st day of December, 1963.

3.—(1) The Minister, with the consent of the Minister for Finance, may, out of moneys provided by the Oireachtas, make grants to the Authority to enable them to perform their functions under this Act.

(2) The aggregate amount of grants under this section shall not exceed two million pounds.

4.—The provisions of the Schedule shall apply to the Authority for the purposes of this Act.

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

6.—This Act may be cited as the Industrial Grants Act, 1956 .

Section 4.

SCHEDULE

SUPPLEMENTARY PROVISIONS.

Act of 1950.

1. In this Schedule "the Act of 1950" means the Industrial Development Authority Act, 1950 (No. 29 of 1950).

Incorporation.

2. The Authority shall be a body corporate with perpetual succession and a common seal and power to sue and be sued by their statutory title.

Common seal.

3. (1) The common seal of the Authority shall, when applied to a document, be attested by the signature of two members.

(2) All courts of justice shall take judicial notice of the common seal of the Authority and every document purporting to be an instrument made by the Authority and to be sealed with the common seal and to be attested in accordance with this paragraph shall, unless the contrary is shown, be received in evidence and be deemed to be such instrument without further proof.

Contracts and instruments not under seal.

4. Any contract or instrument which, if entered into or executed by an individual, would not require to be under seal may be entered into or executed on behalf of the Authority by any person generally or specially authorised by the Authority for that purpose.

Application of Act of 1950.

5. The provisions of the Act of 1950, except section 5 (which relates to the summoning of witnesses), shall apply in relation to the functions of the Authority under this Act.

Separate Accounts.

6. The accounts which the Authority are required by the Act of 1950 to keep shall include separate accounts of moneys received and expended by them under this Act.

Annual Report.

7. The Authority shall submit in such form as the Minister may direct an annual report of their activities and the Minister shall cause copies of the report to be laid before each House of the Oireachtas.

Returns.

8. The Authority shall submit to the Minister such information regarding their activities as he may from time to time require.