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Dáil Éireann debate -
Thursday, 23 Jul 1959

Vol. 176 No. 13

Committee on Finance. - Industrial Credit (Amendment) Bill, 1959—Money Resolution.

I move:—

That for the purpose of any Act of the present session to amend and extend the Industrial Credit Acts, 1933 and 1958, it is expedient to authorise:—

(1) the advance out of the Central Fund or the growing produce thereof of all moneys from time to time required by the Minister for Finance to meet sums which may become payable by him—

(a) for subscriptions for or the purchase of shares of the Industrial Credit Company, Limited, under such Act,

(b) under any guarantee given by him under such Act, and

(c) for the making of advances to the Industrial Credit Company, Limited, for the carrying out of the Company's objects;

(2) the repayment to the Central Fund out of moneys provided by the Oireachtas of advances out of that Fund or the growing produce thereof to meet sums which may become payable under any guarantee given by the Minister for Finance under such Act and which have not been duly repaid to that Fund; and

(3) the charge on and payment out of the Central Fund or the growing produce thereof of—

(a) the principal of and interest on any securities issued by the Minister for Finance for the purpose of borrowing under such Act, and

(b) the expenses incurred in connection with the issue of such securities.

Question put and agreed to.
Resolution reported and agreed to.
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