Committee on Finance. - Agricultural Credit Bill, 1946—Money Resolution.

I move:—

That, for the purpose of any Act of the present Session to provide for the reorganisation of the share capital of the Agricultural Credit Corporation, Limited, to provide for certain other matters relating to the said corporation, to consolidate with amendments the provisions of the Agricultural Credit Acts, 1927 to 1929, relating to chattel mortgages and to charges on land in favour of the said corporation, and to provide for certain other matters connected with the matters aforesaid, it is expedient to authorise:—

I. The payment out of and charge upon the Central Fund or the growing produce thereof of all moneys required to meet—

(i) any amount payable to such corporation by the Minister for Finance for or towards the payment of dividends to registered holders of existing shares of the corporation,

(ii) the payment of a sum of £7,881 10s. 0d. to such corporation by the Minister for Finance in respect of the issue to him of 15,763 fully paid up shares of 10/- each of the corporation.

II. The payment out of moneys provided by the Oireachtas of—

(i) sums authorised by such Act to be advanced by the Minister for Finance to the corporation for the purposes of its business, but so that the total amount owing on foot of such advances at any one time shall not in the aggregate exceed £250,000,

(ii) any expenses incurred in carrying into effect the provisions of such Act relating to the setting up and maintenance of registers of chattel mortgages.

Resolution agreed to.
Resolution reported and agreed to.