FINANCE (MISCELLANEOUS PROVISIONS) ACT, 1945

Type Act

Publication 1945-12-20

Last updated 2011-07-04

State Partially repealed superseded text

Text As published

Source Irish Statute Book

articles 4

This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.

2 amending acts · 2011-07-04, Ministers and Secretaries (Amendment) Act 2011

Reform history JSON API

AN ACT TO EXTEND THE RANGE OF INVESTMENTS OF MONEYS OF THE POST OFFICE SAVINGS BANK AND TO AUTHORISE THE MAKING OF LOANS OUT OF THE LOCAL LOANS FUND TO LOCAL AUTHORITIES FOR CERTAIN PURPOSES. [20th December, 1945.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

1 Local authority.

1.—In this Act, the expression “local authority” means any body being—

(a) the council of a county, or

(b) the corporation of a county or other borough, or

2 Investment of moneys of the Post Office Savings Bank.

2.—(1) In addition to any other statutory powers of investing moneys of the Bank, the said moneys may be invested in any one or more of the stocks to which this section applies.

(2) In this section—

the expression “the Bank” means the Post Office Savings Bank;

the expression “stocks to which this section applies” means stocks or securities (being stocks or securities in which a trustee is by the law for the time being in force authorised to invest trust funds) of a local authority.

3 Power to make loans out of the local loans fund to local authorities for the purpose of repaying loans obtained by the issue of stock.

3.—(1) Where the Minister for Local Government and Public Health consents to a local authority borrowing money for the purpose of redeeming any stock of that local authority on or after the first redemption date, a loan may, at the discretion of the Minister for Finance, be made out of the local loans fund for the purpose of such redemption.

(2) The Local Loans Fund Acts, 1935 to 1940, and this section may be cited together as the Local Loans Fund Acts, 1935 to 1945.

4 Short title.

4.—This Act may be cited as the Finance (Miscellaneous Provisions) Act, 1945.

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