No. 9/1972:

INDUSTRIAL DEVELOPMENT ACT, 1972

ARRANGEMENT OF SECTIONS

1 Definitions.

2 Amendment of section 17 of Principal Act.

3 Remission of rates.

4 Short title, construction and collective citation.

AN ACT TO AMEND THE INDUSTRIAL DEVELOPMENT ACT, 1969 , TO PROVIDE RELIEF FROM RATES IN RESPECT OF CERTAIN PREMISES PROVIDED FOR INDUSTRIAL UNDERTAKINGS, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID.

[13th June, 1972]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

1.—In this Act—

"the Authority" means the Industrial Development Authority;

"the Principal Act" means the Industrial Development Act, 1969 .

2.—Section 17 of the Principal Act is hereby amended by the substitution of "£200,000,000" for "£100,000,000" in each place where that occurs.

3.—(1) A local authority may, if they fit, remit two-thirds of a rate leviable by them in respect of premises to which this section applies.

(2) The remission shall, subject to subsection (3) of this section, have effect in respect of the local financial year next following that in which the provision of the premises for the industrial undertaking was completed and in respect of each of the next nine local financial years.

(3) If in any local financial year, the Authority certify that the undertaking has failed to observe the terms upon which the premises were provided, the remission shall not have effect in respect of that local financial year.

(4) A remission shall not be granted more than once in respect of the same premises.

(5) Where premises are not separately valued under the Valuation Acts, the Commissioner of Valuation may, on the application of the Authority, apportion to the premises such part as he thinks proper of the rateable valuation of the property of which the premises are part.

(6) The powers conferred on a local authority by this section shall be reserved functions for the purposes of the County Management Acts, 1940 to 1955.

(7) This section applies to premises which—

( a ) are certified by the Authority to have been provided after the commencement of the Principal Act for an industrial undertaking either by the Authority or by means of a grant made by the Authority, and

( b ) are situate in an area which at the time of the provision of the premises is an area declared by order under section 6 (1) (c) of the Principal Act to be a designated area.

4.—(1) This Act may be cited as the Industrial Development Act, 1972 .

(2) The Principal Act and this Act shall be construed as one Act and may be cited together as the Industrial Development Acts, 1969 and 1972.