INDUSTRIAL DEVELOPMENT ACT, 1969 (1969_act_32) | IE

ISB Act 1969-12-24

Schedule 1 INDUSTRIAL DEVELOPMENT ACT, 1969 Open official source

FIRST SCHEDULE. Provisions Consequential on Dissolution of An Foras Tionscal.

Provisions Consequential on Dissolution of An Foras Tionscal.

Section 9.

Transfer of property.

1. (1) Any property, whether real or personal (including choses-in-action) which immediately before the commencement of section 7 of this Act was vested in or belonged to or was held in trust for the dissolved Board and all rights, powers and privileges relating to or connected with any such property shall, on such commencement, without any conveyance or assignment but subject where necessary to transfer in the books of any bank, corporation, or company, become the property of or be held in trust for and be vested in (as the case may require) the Authority for all the estate, term or interest for which the same immediately before such commencement was vested in or belonged to or was held in trust for the dissolved Board, but subject to all trusts and equities affecting the same and then subsisting and capable of being performed.

(2) Any property transferred by this paragraph which, immediately before the commencement of section 7 of this Act, was standing in the books of any bank, corporation or company or was registered in the books of any bank, corporation or company in the name of the dissolved Board shall, upon the request of the Authority made at any time after such commencement, be transferred in those books by that bank, corporation or company into the name of the Authority.

(3) After the commencement of section 7 of this Act, every chose-in-action transferred in accordance with this paragraph to the Authority may be sued upon, recovered or enforced by the Authority in its own name, and it shall not be necessary for the Authority to give notice to the person bound by such chose-in-action of the transfer effected by this paragraph.

Transfer of liabilities.

2. (1) Any debt and other liability (including stock and mortgage debts, and unliquidated liabilities arising from torts or breaches of contract) which immediately before the commencement of section 7 of this Act was owing and unpaid or had been incurred and was undischarged by the dissolved Board shall, on such commencement, become and be the debt or liability of the Authority and shall be paid or discharged by and may be recovered from or enforced against the Authority accordingly.

(2) The dissolution effected by section 7 of this Act shall not invalidate or affect any paying order or cheque which may have been issued by the dissolved Board and not presented for payment before the commencement of the said section or any authority given by the dissolved Board for the payment of the amount of the paying order or cheque, and the Authority shall make arrangements for the payment of the amount of every such paying order or cheque upon due presentation within a reasonable time after the said commencement.

Preservation of continuing contracts.

3. Any bond, guarantee, or other security of a continuing character made or given by the dissolved Board to another person or by any person to the dissolved Board and in force immediately before the commencement of section 7 of this Act, and every contract or agreement in writing made between the dissolved Board and another person and not fully executed and completed before such commencement shall, notwithstanding the dissolution, continue in force after such commencement but shall be construed and have effect as if the name of the Authority were substituted therein for the name of the dissolved Board and such security, contract or agreement shall be enforceable accordingly by or against the Authority.

Continuance of pending legal proceedings.

4. In any action, suit, prosecution or other proceeding which was pending immediately before the commencement of section 7 of this Act in any court or tribunal and to which the dissolved Board was a party, the Authority shall on the operative date become and be a party in the place of the dissolved Board and those proceedings shall be continued between the Authority and the other parties thereto accordingly, and no such proceedings shall abate or be discontinued or prejudically affected by reason of the dissolution.

Preservation of contracts of service.

5. Any contract of service (express or implied) in force immediately before the commencement of section 7 of this Act between the dissolved Board and any person not being an officer or servant of the dissolved Board shall continue in force on or after such commencement, but shall be construed and have effect as if the name of the Authority were substituted therein for the name of the dissolved Board and every such contract shall be enforceable accordingly by or against the body so specified.

ISB Act 1969-12-24

Schedule 2 INDUSTRIAL DEVELOPMENT ACT, 1969 Open official source

SECOND SCHEDULE The Industrial Development Authority

The Industrial Development Authority

Section 22.

1. The Authority shall be a body corporate with perpetual succession and a common seal and power to sue and be sued in its corporate name and to acquire, hold and dispose of land.

2. (i) The Authority shall consist of not more than nine members, of whom one shall be Chairman and of whom two others may be Deputy Chairmen.

(ii) The members of the Authority shall be appointed by the Minister with the consent of the Minister for Finance.

(iii) One member of the Authority shall be designated as Chairman by the Minister and two other members of the Authority may be designated by the Minister as Deputy Chairmen.

3. (1) The Authority may act by any three of its number.

(2) The Authority may regulate its own procedure.

4. A member of the Authority shall not be a member of a local authority.

5. The Authority may perform any of its functions through or by any member or any of its officers or servants duly authorised by the Authority in that behalf.

6. (1) The common seal of the Authority shall, when applied to a document, be attested by the signature of two members or by the signature of a member and an officer or servant of the Authority authorised by it to act in that behalf.

(2) All courts of justice shall take judicial notice of the common seal of the Authority and every document purporting to be an instrument made by the Authority and to be sealed with the common seal and to be attested in accordance with this paragraph shall, unless the contrary is shown, be received in evidence and be deemed to be that instrument without further proof.

7. Any contract or instrument which, if entered into or executed by an individual, would not require to be under seal may be entered into or executed on behalf of the Authority by any person generally or specially authorised by the Authority for that purpose.

8.(a) The Authority shall submit in such form as the Minister may direct an annual report of its activities as soon as may be after the end of the financial year to which it refers and the Minister shall cause copies of the report to be laid before each House of the Oireachtas.

(b) The Authority shall keep in such form as may be approved of by the Minister, with the consent of the Minister for Finance, all proper and usual accounts of moneys received and expended by it and, in particular, shall keep in such form as aforesaid all such special accounts as the Minister may from time to time direct.

(c) The accounts of the Authority shall be submitted annually by the Authority to the Comptroller and Auditor General for audit at such times as the Minister, with the consent of the Minister for Finance, shall direct and, when so audited, shall together with the report of the Comptroller and Auditor General thereon, be presented to the Minister who shall cause copies thereof to be laid before each House of the Oireachtas.

9. The Authority shall supply to the Minister such information regarding its activities as he may from time to time require.

ISB Act 1969-12-24

Schedule 3 INDUSTRIAL DEVELOPMENT ACT, 1969 Open official source

THIRD SCHEDULE Enactments Repealed

Enactments Repealed

Section 4.

Number and Year

Short Title

Extent of Repeal

(1)

(2)

(3)

No. 29 of 1950

Industrial Development Authority Act, 1950.

Sections 2 (3), 2 (4), 4 (5), 4 (6), 6, 7, 8 and 9.

No. 1 of 1952

Undeveloped Areas Act, 1952.

Sections 4 and 6, 7 (1), 7 (2), 8 (1) (b) and the First Schedule.

No. 30 of 1961

Industrial Grants (Amendment) Act, 1961.

Section 2.

No. 3 of 1963

Undeveloped Areas (Amendment) Act, 1963.

Sections 2 and 3.

No. 4 of 1963

Industrial Grants (Amendment) Act, 1963.

Sections 2, 3, 5 and 6 (1) (b).

No. 37 of 1964

Industrial Grants (Amendment) Act, 1964.

Sections 3 and 4.

No. 12 of 1966

Industrial Grants (Amendment) Act, 1966.

Section 5 (4).

No. 8 of 1969

Industrial Grants (Amendment) Act, 1969.

Section 1.

INDUSTRIAL DEVELOPMENT ACT, 1969

Statutory Text (3 Articles)

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