asked the Minister for Agriculture if he is aware of a number of people in the country who were approved for the reduced interest scheme, 1983 and subsequently were paid; if he is further aware that his Department are now demanding that such money be paid back; if he will explain the circumstances; and if he will make a statement on the matter.
Written Answers. - Reduced Interest Scheme.
28.
The reduced interest scheme for farmers in severe financial difficulty was administered by the Associated Banks and the ACC who also had responsibility for assessing the eligibility of individual applicants. The administration of the scheme by the lending institutions is subject to audit by my Department and no State contribution is payable to the lending institutions in respect of cases found to have been improperly admitted to the scheme. In such instances, where the State contribution has already been paid it must be refunded by the lending institution. It is a matter for the lending institutions to decide whether to seek refunds from the disallowed applicants concerned.