LegalizeLOCAL LOANS FUND (AMENDMENT) ACT, 1953
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.
1 amending act · 1954-03-02, LOCAL LOANS FUND (AMENDMENT) ACT, 1954
AN ACT TO AMEND THE LOCAL LOANS FUND ACTS, 1935 TO 1951. [4th March, 1953.]
BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—
1 Increase of limit on issues from the local loans fund.
1.—Section 1 of the Local Loans Fund (Amendment) Act, 1951 (No. 18 of 1951), is hereby repealed and in lieu thereof it is hereby enacted that the aggregate amount of the moneys issued from the local loans fund in respect of local loans during the period mentioned in subsection (3) of section 4 of the Local Loans Fund Act, 1935 (No. 16 of 1935), shall not exceed the sum of seventy million pounds.
2 Writing off of certain amounts.
2.—(1) The amounts of principal and interest specified in the Schedule to this Act at any reference number shall be written off the assets of the local loans fund.
- (2) Notwithstanding subsection (3) of section 14 of the Local Loans Fund Act, 1935 (No. 16 of 1935), where amounts are written off pursuant to this section, the liability of any person to pay the amounts and penal interest due in respect thereof shall cease.
- (3) This section shall, in relation to the amounts specified in the Schedule to this Act at any reference number, be deemed to have come into operation on the date specified at that reference number.
3 Short title and collective citation.
3.—(1) This Act may be cited as the Local Loans Fund (Amendment) Act, 1953.
- (2) The Local Loans Fund Acts, 1935 to 1951, section 3 of the Finance (Miscellaneous Provisions) Act, 1945 (No. 35 of 1945), and this Act may be cited together as the Local Loans Fund Acts, 1935 to 1953.
SCHEDULE.
| Ref. No. | Name of borrower | Principal to be written off | Principal to be written off | Principal to be written off | Interest to be written off | Interest to be written off | Interest to be written off | Effective date of writing off |
| 1 | Buncrana Harbour Commissioners | £2,124 | 5s. | 5d. | £2,188 | 8s. | 1d. | 31st March, 1941 |
| 2 | Clancy, John | £453 | 6s. | 0d. | £7 | 10s. | 3d. | 29th January, 1943 |
| 3 | Kennedy, Margaret M. | £58 | 18s. | 10d. | 5s. | 7d. | 5th November, 1937 | |
| 4 | Odlum, William Woods | £201 | 6s. | 3d. | £4 | 18s. | 8d. | 1st February, 1937 |
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