asked the Minister for Industry and Commerce if he is aware that individuals applying for a loan under the Trade Loans (Guarantee) Act, 1924, for industrial purposes, have been informed that their claims cannot be entertained by the Advisory Committee, as the Act applies only to public authorities, or any corporation, or any other body of persons corporate or unincorporate; and whether he will consider introducing an amending Bill to include applications for loans under this Act to private individuals.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - TRADE LOANS (GUARANTEE) ACT.
SEAN O LAIDHIN
The provisions of the Act are to the effect stated in the question, and I have at present no evidence that they unduly restrict the purposes of the Act. I would not feel justified in proposing an amendment of the Act in the sense suggested by the Deputy unless satisfied that individuals capable of putting forward sound proposals of a kind contemplated by the Act were in fact unable to make arrangments that would bring those proposals within the terms of the Act.
If the Minister is supplied with a guarantee from a certain number of individuals who are prepared to start industries, will he consider an amendment of the Act which will facilitate such individuals?
As far as I understand, I am asked if I am satisfied that the Act is at present satisfactory and will I have an amendment of the Act under these circumstances. I will not.
The Act is not satisfactory from an industrial point of view. According to the Act there must be a body of men or a corporation. If an individual wishes to give employment, and is willing to invest some money of his own, will he be given assistance under this Act in order to purchase machinery or whatever he requires?
If an individual who is anxious to assist industry, and thinks he can do so under the terms of the Act, finds he cannot get one other individual to join with him, then he has not got much support for his application.