Industrial Research and Standards (Amendment) Act , 1979

1 Definitions.

1.—In this Act—

“the Institute” means the Institute for Industrial Research and Standards;

“the Minister” means the Minister for Industry, Commerce and Energy.

2 Borrowing by Institute.

2.—(1) The Institute may, with the consent of the Minister given with the concurrence of the Minister for Finance and subject to any conditions imposed by the Minister, borrow temporarily by arrangement with bankers such sums as it may require for the purpose of providing for current expenditure.

(2) The Institute may, with the consent of the Minister given with the concurrence of the Minister for Finance and subject to any conditions imposed by the Minister, borrow, on the security of its own land and premises and without any guarantee by the Minister for the due repayment of any such borrowings, such sums as it may require for the purpose of purchasing capital equipment.

3 Short title, collective citation and construction.

3.—(1) This Act may be cited as the Industrial Research and Standards (Amendment) Act, 1979.

(2) The Industrial Research and Standards Act, 1961, and this Act may be cited together as the Industrial Research and Standards Acts, 1961 and 1979, and shall be construed together as one Act.