asked the Minister for Industry and Commerce if he will state how many applications for loans under Section 2 of the Trade Loans (Guarantee) Act have been received from public authorities, or associations, or consumers, and whether any such loans have, as yet, been either granted or guaranteed.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - APPLICATIONS UNDER TRADE LOANS ACT.
Six applications under Section 2 of the Act have been received. The appointment of the Advisory Committee was not announced until the 21st instant, and no loans under Section 2 have yet been granted or guaranteed.
In view of the fact that the Act will expire in nine months' time, how long will it take before any loans are granted or guaranteed?
The question of the time in which loans will be granted or guaranteed has nothing to do with the time of the expiring of the Act.
Does the Minister say that loans can be guaranteed or granted after the Act has expired?
No.
Can the Minister explain how long the Act is likely to be in operation, if it takes three months to appoint an Advisory Committee?
The Act will remain in operation for one year after the date upon which it is passed by the Dáil, and applications will be guaranteed or granted in accordance with the particular section under which these things are to be done. There is a proviso that no loans or guarantees may be given to last for a period beyond twelve months. That is inherent in the Act, and will remain. It may be met by bringing in a further Act next year.
Is that an undertaking to bring in a further Act next year?
It is not.