S.I. No. 35/1931 - Vocational Education (Borrowing) Regulations, 1931.

1. Specify the situation of the school building in respect of which the loan is required. (A full and distinctive name should be given in the case of a new school.)

2. State

(a) the total amount it is proposed to borrow;

(b) the source from which it is to be obtained, and

(c) the rate of interest.

3. Give an estimate of the total cost of the proposed undertaking.

4. Show how the loan is to be applied, i.e.,

(1) Purchase of lands or building.

(2) Erection of building.

(3) Enlargement of building.

(4) Structural improvement of building.

(5) Furniture and equipment for building (a).

(6) Repairs.

5. State

(1) The period for which it is proposed to borrow the money, and

(2) The reasons why, in the opinion of the Vocational Education Committee, the expenditure on the proposed undertaking should be spread over such period.

(a) Detailed particulars of such Furniture and Equipment to be attached to this application.

SCHEDULE—

continued.

6. State the estimated income for the current financial year of the vocational education committee.

7. State the amount of the annual repayments of principal and interest in respect of all outstanding loans (if any) chargeable upon the vocational education fund of the vocational education committee.

8. State whether it is proposed

(a) to purchase or take on lease any land for the purpose of the proposed works ; (b)

(b) to obtain such land by agreement or compulsorily. (b)

9. State the manner in which it is proposed to repay the loan

(i) by equal half-yearly instalments of principal with interest on the amount outstanding from time to time, or

(ii) by equal half-yearly or yearly instalments of principal and interest combined. (A loan obtained from the Commissioners of Public Works will be repayable by annuity only.)

10. If, at the date of this application, any loans are outstanding upon the building in respect of which the new loan is required, give the following particulars:—

(a) Balance of loan or loans due.

(b) To whom repayable.

(c) Remaining period or periods of repayment.

Submitted on behalf of the..............................of................................... Vocational Education Committee.

..........................................Chairman.

..........................................Chief Executive Officer.

Dated this.................................day of.......................................19

(b) See provisions of

Section 28

of the

Vocational Education Act, 1930

.

STATUTORY RULES AND ORDERS. 1931. No. 35.

VOCATIONAL EDUCATION (BORROWING) REGULATIONS, 1931.

WHEREAS it is enacted by sub-section (1) of

section 50

of the

Vocational Education Act, 1930

(No. 29 of 1930), that where a vocational education committee proposes to incur expenditure under that Act on works the cost of which ought, in the opinion of the Minister for Education, by reason of their permanent character to be spread over a term of years, such committee may, with the consent of the said Minister, spread the defrayal of such expenditure over such term of years as the said Minister may approve, and may for that purpose borrow money on the security of the vocational education fund maintained by it and charge that fund with payment of the principal moneys so borrowed and the interest thereon, and it is enacted by sub-section (2) of the said section 50 that the powers of a vocational education committee under the said section shall be exercised in accordance with regulations made by the Minister for Education ;

NOW, I, JOHN MARCUS O'SULLIVAN, Minister for Education, in exercise of the powers conferred on me by sub-section (2) of

section 50

of the

Vocational Education Act, 1930

(No. 29 of 1930), and of every and any other power me in this behalf enabling, do by this Order make the following regulations, that is to say :—