Next (SCHEDULE. Supplementary Provisions.)

48 1956

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Number 48 of 1956.


INDUSTRIAL GRANTS ACT, 1956.


ARRANGEMENT OF SECTIONS

Section

1.

Definitions.

2.

Grants for industry.

3.

Grants to Authority.

4.

Supplementary provisions.

5.

Expenses of Minister.

6.

Short title.

SCHEDULE.

Supplementary Provisions.


Acts Referred to

Undeveloped Areas Act, 1952

No. 1 of 1952

Industrial Development Authority Act, 1950

No. 29 of 1950

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Number 48 of 1956.


INDUSTRIAL GRANTS ACT, 1956.


AN ACT TO PROVIDE FOR THE MAKING OF GRANTS IN AID OF INDUSTRIAL DEVELOPMENT IN AREAS OTHER THAN AREAS TO WHICH THE UNDEVELOPED AREAS ACT, 1952 , APPLIES, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [27th December, 1956.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

Definitions.

1. —In this Act—

the Authority” means the Industrial Development Authority;

the Minister” means the Minister for Industry and Commerce.

Grants for industry.

2. —(1) Whenever the Authority are of opinion that the manufacture of a particular commodity to a substantial extent in the State would be in the interests of the national economy and would be likely—

(a) to provide employment on a substantial scale, or

(b) to make available in the State substantial quantities of the commodity, or

(c) to provide an opportunity for developing an export trade,

the Authority, if satisfied that financial assistance is necessary to ensure the establishment of an industrial undertaking to manufacture the commodity to a substantial extent and that the undertaking will be of a reasonably permanent nature and will be carried on efficiently, may, on such terms as they think proper, make grants towards the cost of the acquisition, construction and adaptation of the buildings and other works required for the purpose of the undertaking.

(2) The total amount so granted shall not in the case of any undertaking exceed two-thirds of such cost or the sum of fifty thousand pounds, whichever is the lesser amount.

(3) The Authority, in considering applications for grants under this section, shall have regard to the extent to which the requirements of the public in respect of the commodities to be manufactured are sufficiently met by undertakings already established.

(4) Grants shall not be made under this section in respect of the establishment of undertakings in an area to which the Undeveloped Areas Act, 1952 (No. 1 of 1952), applies.

(5) No grant shall be sanctioned by the Authority after the 31st day of December, 1963.

Grants to Authority.

3. —(1) The Minister, with the consent of the Minister for Finance, may, out of moneys provided by the Oireachtas, make grants to the Authority to enable them to perform their functions under this Act.

(2) The aggregate amount of grants under this section shall not exceed two million pounds.

Supplementary Provisions.

4. —The provisions of the Schedule shall apply to the Authority for the purposes of this Act.

Expenses of Minister.

5. —The expenses incurred by the Minister in carrying this Act into execution shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas.

Short title.

6. —This Act may be cited as the Industrial Grants Act, 1956.