No. 14/1981:

INDUSTRIAL DEVELOPMENT (No. 2) ACT, 1981

ARRANGEMENT OF SECTIONS

1 Definitions.

2 Employment grants to service industries.

3 Amendment of section 1 of Industrial Development Authority Act, 1950.

4 Amendment of section 2 of Principal Act.

5 Short title, construction and collective citation.

AN ACT TO AMEND AND EXTEND THE INDUSTRIAL DEVELOPMENT AUTHORITY ACT, 1950 , AND THE INDUSTRIAL DEVELOPMENT ACTS, 1969 TO 1981.

[26th May, 1981]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

1.—In this Act—

"the Authority" means the Industrial Development Authority;

"employment grant" has the meaning assigned to it by section 2 of this Act;

"the Minister" means the Minister for Industry, Commerce and Tourism;

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

"service undertaking" has the meaning assigned to it by The Principal Act, as amended by this Act.

2.—(1) The Authority may make a grant (in this Act referred to as an "employment grant"), on such terms and conditions as it thinks fit, towards the employment of persons in a service undertaking.

(2) An employment grant may be made where, in the opinion of the Authority, the undertaking would contribute significantly to regional and national development and, in particular,—

( a ) would be commercially viable,

( b ) would have good prospects for growth, and

( c ) would not be developed in the absence of an employment grant.

(3) The amount of an employment grant shall be subject to such financial limit as shall be fixed from time to time by the Minister with the concurrence of the Minister for Finance.

(4) The Authority shall not, without the prior permission of the Government, give in respect of a particular undertaking an employment grant or grants exceeding in the aggregate £1,250,000.

3.—(1) Section 1 of the Industrial Development Authority Act, 1950 , is hereby amended by the substitution of "references to industry include references to such service industries (within the meaning of the Industrial Development Act, 1969 , as amended) as stand specified from time to time by order made by the Minister" for "references to industry do not include references to banking, insurance or agriculture", and references in the Industrial Development Authority Act, 1950 , and in The Principal Act to industry shall be construed accordingly.

(2) An order under section 1 of the Industrial Development Authority Act, 1950 (as amended by this Act) shall not be made in relation to banking without consultation with the Minister for Finance.

4.—section 2 of the Principal Act is hereby amended by the substitution of the following for the definition of "industrial undertaking";

"'industrial undertaking' includes an undertaking ancillary to industry and an undertaking (in this Act referred to as 'a service undertaking') engaged in the provision of a service;".

5.—(1) This Act may be cited as the Industrial Development (No. 2) Act, 1981 .

(2) This Act and the Industrial Development Acts, 1969 to 1981, shall be construed together as one Act.

(3) This Act shall be included in the collective citation "the Industrial Development Acts, 1969 to 1981.".

ACTS REFERRED TO