No. 26/1959:

INDUSTRIAL GRANTS ACT, 1959

ARRANGEMENT OF SECTIONS

1 Interpretation.

2 Grants for undertakings not in undeveloped areas.

3 Grants and guarantees in respect of capital costs of providing electricity supply.

4 Making of grants arranged under the Act of 1956.

5 Grants and guarantees by the Minister after expiry of sections 2, 3 and 4 of this Act.

6 Limitation on total of grants.

7 Separate accounts.

8 Separate report.

9 Transfer of property.

10 Transfer of liabilities.

11 Preservation of continuing contracts.

12 Continuance of pending legal proceedings.

13 Exemption from stamp duty.

14 Repeals.

15 Short title and commencement.

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 ACTS, 1952 AND 1957, APPLY, TO AMEND THOSE ACTS, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID.

[6th August, 1959.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

1.—(1) In this Act—

"the Act of 1956" means the Industrial Grants Act, 1956 ;

"the Authority" means the Industrial Development Authority;

"the commencement day" means the day appointed by order of the Minister on which this Act comes into operation;

"the Principal Act" means the Undeveloped Areas Act, 1952 .

(2) Every word and expression used in this Act to which a particular meaning is assigned by The Principal Act shall, in this Act, have that meaning.

(3) A reference in The Principal Act to that Act shall, save where the context otherwise requires, be construed as including a reference to this Act.

2.—(1) Whenever the Board—

( a ) are of opinion that there are sound reasons why an industrial undertaking cannot be established or developed in the undeveloped areas and that the undertaking is, having regard to its size, character or the probable extent to which its products are likely to be exported, of exceptional national importance, and

( b ) are satisfied that financial assistance by way of grant is necessary to ensure the establishment or development of the undertaking and that the undertaking will be of a reasonably permanent nature and will be carried on efficiently,

the Board may—

(i) for the purpose of providing or facilitating the provision of sites or premises for the establishment or development in an area other than an undeveloped area of the undertaking make grants, on such terms as they think proper, to aid persons to—

(I) acquire land,

(II) construct and adapt buildings and other works, and

(III) provide services and facilities in connection with land, and

(ii) make grants, on such terms as they think proper, towards the provision of machinery and equipment for the undertaking.

(2) The total amount granted under paragraph (i) of subsection (1) of this section shall not in the case of any undertaking exceed two-thirds of the cost of the acquisition of the land, the construction and adaptation of the buildings and other works and the provision of services and facilities in connection with the land.

(3) The total amount granted under paragraph (ii) of subsection (1) of this section shall not in the case of any undertaking exceed one-third of the cost of the provision of machinery and equipment.

(4) Subject to subsection (5) of this section, the total amount granted under subsection (1) of this section shall not in the case of any undertaking exceed two hundred and fifty thousand pounds.

(5) The Government may, having regard to the amount of employment likely to be afforded by an undertaking, approve of the making under subsection (1) of this section in respect of the undertaking of grants the total amount of which exceeds two hundred and fifty thousand pounds, and, where an approval has been given under this subsection, the limitation imposed by subsection (4) of this section on the total amount of the grants shall not apply.

(6) This section shall continue in operation until the 31st day of December, 1963.

3.—(1) Whenever, in respect of an industrial undertaking, the Board exercise a power under section 5 of the Principal Act or make a grant under section 6 of the Principal Act or section 2 of this Act, the Board may do either or both of the following, that is to say:

( a ) make grants, on such terms as they think proper, towards the capital costs of the provision by the Electricity Supply Board of an electricity supply for the undertaking,

( b ) guarantee, on such terms as they think proper, the payment of moneys payable to the Electricity Supply Board in respect of the capital costs of the provision by the Electricity Supply Board of an electricity supply for the undertaking.

(2) The total amount granted under this section shall not in the case of any undertaking exceed one half of the amount payable to the Electricity Supply Board in respect of the capital costs aforesaid.

(3) This section shall continue in operation until the 31st day of December, 1963.

4.—(1) Where a grant which the Authority have decided to make under the Act of 1956 remains unpaid in whole or in part on the commencement day, the Board shall make the grant or the unpaid part thereof on the terms which were determined by the Authority.

(2) This section shall continue in operation until the 31st day of December, 1963.

5.—(1) Where a grant which the Board have decided to make under section 2 or section 3 of this Act or which the Board are required to make under section 4 of this Act remains unpaid in whole or in part on the expiry of those sections, the Minister shall make the grant or the unpaid part thereof on the terms which were determined by the Board or the Authority, as the case may be.

(2) Where moneys the payment of which was guaranteed by the Board under section 3 of this Act remain unpaid in whole or in part on the expiry of that section, the Minister shall guarantee the payment of the moneys or the unpaid part thereof on the terms which were determined by the Board.

(3) Grants and payments on foot of guarantees under this section shall be made out of moneys provided by the Oireachtas.

6.—(1) The aggregate amount of grants made by the Authority under the Act of 1956 and of grants (other than grants under section 12 of the Principal Act) made by the Board and the Minister under the Undeveloped Areas Acts, 1952 and 1957, and this Act and of payments made by the Board and the Minister on foot of guarantees given by the Board and the Minister under this Act shall not exceed ten million pounds.

(2) The aggregate amount of grants under section 12 of the Principal Act and section 3 of the Act of 1956 shall not exceed ten million pounds.

7.—The accounts which the Board are required by paragraph 10 of the First Schedule to The Principal Act to keep shall include separate accounts of moneys received and expended by them under this Act.

8.—(1) The report which the Board are required by paragraph 11 of the First Schedule to The Principal Act to submit to the Minister shall include a separate report of their activities under this Act.

(2) The first report submitted pursuant to the said paragraph 11 after the commencement day shall include a separate report of the activities of the Authority under the Act of 1956 before the commencement day and subsequent to the activities the subject of the last report submitted by the Authority pursuant to paragraph 7 of the Schedule to the Act of 1956.

9.—(1) Subject to the provisions of this section all property whether real or personal (including choses-in-action) which immediately before the commencement day is vested in, or belongs to or is held in trust for, the Authority, in relation to their duties, powers and functions under the Act of 1956, and all rights, powers and privileges relating to or connected with any such property shall, on the commencement day and without any conveyance or assignment but subject where necessary to transfer in the books of any bank, corporation or company or authority, become and be vested in or the property of or held in trust for (as the case may require) the Board for all the estate, trust or interest for which the same immediately before the commencement day was vested in or belonged to or was held in trust for the Authority.

(2) All property transferred by this section which, immediately before the commencement day is standing in the books of any bank or is registered in the books of any bank, corporation, company or authority shall, upon the request of the Board made on or after the commencement day be transferred in such books by such bank corporation, company or authority into the name of the Board.

(3) On and after the commencement day every chose-in-action transferred by this section to the Board may be sued upon, recovered or enforced by the Board in their own name and it shall not be necessary for the Board to give notice to the person bound by such chose-in-action of the transfer effected by this section.

10.—Every debt and other liability (including unliquidated liabilities arising from torts or breaches of contract) arising out of the exercise or performance by the Authority of their duties, powers and functions under the Act of 1956 which immediately before the commencement day is owing and unpaid or has been incurred and is undischarged by the Authority shall, on the commencement day, become and be the debt or liability of the Board and shall he paid or discharged by and may be recovered from or enforced against the Board accordingly.

11.—Every bond, guarantee, mortgage or other security of a continuing nature made or given in the course of the exercise or performance by the Authority of their duties, powers and functions under the Act of 1956 by the Authority to any person or by any person to the Authority, and in force immediately before the commencement day and every contract or agreement in writing so made between the Authority and another person and not fully executed and completed before the commencement day shall, notwithstanding the repeal of the Act of 1956, continue in force on and after the commencement day but shall be construed and have effect as if the name of the Board were substituted therein for the name of the Authority and such security, contract or agreement shall be enforceable by or against the Board accordingly.

12.—In every action, suit or proceedings arising out of the exercise or performance by the Authority of their duties, powers and functions under the Act of 1956 which is pending on the commencement day in any court or tribunal and to which the Authority is a party, the Board shall on the commencement day become and be a party in the place of the Authority and such proceedings shall be continued between the Board and the other parties thereto accordingly and no such proceedings shall abate or be discontinued or prejudicially affected by reason of the repeal of the Act of 1956.

13.—Section 12 of the Finance Act, 1895, shall not apply to the vesting in the Board of the property of the Authority.

14.—Each enactment mentioned in the Schedule to this Act is hereby repealed to the extent specified in the third column of the Schedule.

15.—(1) This Act may be cited as the Industrial Grants Act, 1959 .

(2) This Act shall come into operation on such day as the Minister shall by order appoint.

SCHEDULE

Section 14.

ENACTMENTS REPEALED.