INDUSTRIES DEVELOPMENT ACT (NORTHERN IRELAND) 1966 - SECT 5 Supplementary provisions.

	[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here: BAILII >> Databases >> Northern Irish Legislation >> INDUSTRIES DEVELOPMENT ACT (NORTHERN IRELAND) 1966

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

INDUSTRIES DEVELOPMENT ACT (NORTHERN IRELAND) 1966 - SECT 5

Supplementary provisions.

5.(1) Where any Government department recommends that the whole or any part of
the principal or interest of any loan made under this Act should be written
off by reason that the same is not likely to be recovered and the Ministry of
Finance directs that the amount shall be written off, such amount shall be
treated as a loss to the Exchequer, but nothing in this subsection shall
affect the liability of any person to pay to such department the principal of,
or interest on, any such loan or part thereof.

(2) Where, in the case of an undertaking, a guarantee has been given or a loan
made under this Act and the Ministry is satisfied, after consultation with the
committee appointed under [section 1(7)], that, with a view to enabling all or
part of any moneys paid for fulfilling the guarantee or of the moneys lent, as
the case may be, to be recovered, it is expedient to provide further financial
assistance for the purposes of the undertaking, the Ministry may provide such
further assistance of such amount and on such terms and conditions as
the Ministry may, with the approval of the Ministry of Finance, think proper.

(3) Any amount which is repayable to any Government department under this Act
may, without prejudice to any other means of recovery, be recovered by
deduction from any grant or other sum payable out of moneys provided by
Parliament or by that or any other Government department to the undertaking
from which, or the person from whom, the amount is due, and that grant or sum
shall be abated accordingly.

(4) Without prejudice to any other provision of this Act, the Ministry may,
with the approval of the Ministry of Finance, expend moneys for the purpose of

(a)paying allowances to the members of the committee appointed under [section
1(7)];

(b)making known the scope for industrial development in Northern Ireland; and

(c)carrying out, or giving financial assistance towards the carrying out, of
such inquiries, investigations and researches as the Ministry considers will
further the purposes of this Act.

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/idai1966429/s5.html

Northern Irish Legislation

INDUSTRIES DEVELOPMENT ACT (NORTHERN IRELAND) 1966 - SECT 5