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| You are here: BAILII >> Databases >> Northern Irish Legislation >> DEVELOPMENT OF TOURIST TRAFFIC ACT (NORTHERN IRELAND) 1948 | ||
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33.(1) The Ministry [after consultation with the Board and the Advisory Committee] may, subject to the provisions of this Act and on such terms and conditions as to issue, repayment or otherwise as may be specified in any loans scheme made by the Ministry with the approval of the Ministry of Finance, make loans... for the purposes of [furnishing, equipping] improving, altering, enlarging or structurally modifying any registered catering establishment and, where the Board certify that in their opinion the provision of additional catering establishments is desirable, for the provision of such establishments: Proviso rep. by 1955 c.19 (NI) s.27 sch.4 (2) Applications for loans under this section shall be presented to the Ministry in such manner and shall contain such particulars as the Ministry with the approval of the Ministry of Finance may direct. (3) Any sums received in respect of the repayment of any loan made by the Ministry under this section shall be paid to the Exchequer. (4) Where the Ministry recommends that the whole or any part of the principal or interest of any loan made under this section should be written off by reason of the same not being likely to be recovered the Ministry of Finance may direct that such amount shall be written off and such amount shall be treated as a loss to the Exchequer: Provided that nothing in this sub-section shall alter the liability of any person to pay the principal of or interest on any such loan or part thereof and any sum afterwards recovered whether for principal or interest in respect of the amount so written off shall be paid to the Exchequer. [(4A) Subject to sub-section (4B), where any instalment of principal or interest or both principal and interest due on foot of any loan made under this section is more than thirty-one days in arrear additional interest at such rate as may from time to time be determined by an order made by the Department of Finance subject to negative resolution shall, notwithstanding any enactment or rule of law to the contrary, be chargeable on that instalment as from the date on which it fell due and shall be recoverable therewith. (4B) The Department may, with the approval of the Department of Finance, in such cases as it thinks fit waive the payment of such additional interest as is mentioned in sub-section (4A).] (5) The Ministry shall keep such accounts of loans made under this section as the Ministry of Finance may approve and such accounts shall be audited by the Comptroller and Auditor-General and shall together with a report thereon be laid before Parliament and the Ministry shall lay annually before Parliament a statement of all losses caused to the Exchequer by reason of the principal or interest of any loan being written off. [(6) Loans made by the Ministry under this section shall be charged on and issued out of the Consolidated Fund or (if the Ministry of Finance so directs) out of moneys provided by Parliament, so, however, that the aggregate of the sums to be charged on and issued out of the Consolidated Fund under this sub-section shall not, unless and until Parliament otherwise determines, exceed [two million five hundred thousand pounds]. (7) The Ministry of Finance may borrow money for the purpose of providing for issues out of the Consolidated Fund under the last preceding sub-section. (8) Moneys borrowed under the last preceding sub-section shall be repaid within any period or periods not exceeding fifteen years from the date of borrowing and provision for such repayment may be made out of moneys provided by Parliament.]
© 1948 Crown Copyright
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