AGRICULTURAL CREDIT ACT, 1969

Interpretation.

Interpretation.

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1.—In this Act—

“the Act of 1947” means the Agricultural Credit Act, 1947;

“the Act of 1961” means the Agricultural Credit Act, 1961;

“the Act of 1965” means the Agricultural Credit Act, 1965.

Increase of capital of the Corporation.

Increase of capital of the Corporation.

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2.—(1) The Corporation may, under and in accordance with section 2 of the Act of 1961, increase its capital to a total not exceeding ten million pounds and, accordingly, there shall be substituted in that section for the reference to six million pounds (inserted by section 2 of the Act of 1965) a reference to ten million pounds.

(2) Section 2 of the Act of 1965 is hereby repealed.

Amendment of section 3 of the Act of 1965.

Amendment of section 3 of the Act of 1965.

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3.—Section 3 (1) of the Act of 1965 is hereby amended by the substitution of “twenty-five million pounds” for “twenty million pounds”.

Amendment of section 4 of the Act of 1965.

Amendment of section 4 of the Act of 1965.

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4.—Section 4 of the Act of 1965 is hereby amended by the substitution of “twenty-five million pounds” for “twenty million pounds”.

Amendment of section 19 of the Act of 1947.

Amendment of section 19 of the Act of 1947.

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5.—Section 19 (1) of the Act of 1947 is hereby amended by the substitution of “as soon as may be” for “within ninety days”.

Amendment of section 24 of the Act of 1947.

Amendment of section 24 of the Act of 1947.

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6.—Section 24 (6) (a) of the Act of 1947 is hereby amended by the substitution of “under the hand of the solicitor or law agent of such recognised lender” for “under seal”.

Alteration in memorandum and articles of association of the Corporation.

Alteration in memorandum and articles of association of the Corporation.

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7.—(1) It shall be lawful for the Corporation to make all such alterations in its memorandum and articles of association as are necessary and proper to give effect to the provisions of this Act and of the Agricultural Credit Acts, 1927 to 1965, as amended by this Act and as are necessary and proper by way of supplement to, or in consequence of, any such alteration.

(2) Subsections (2) and (3) of section 14 of the Act of 1961 shall apply and have effect in relation to alterations in the memorandum and articles of association of the Corporation authorised by this section in the same way as they apply and have effect in relation to alterations in that memorandum and those articles authorised by the said section 14.

Short title, construction and collective citation.

Short title, construction and collective citation.

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8.—(1) This Act may be cited as the Agricultural Credit Act, 1969.

(2) The Agricultural Credit Acts, 1927 to 1965, and this Act shall be construed together as one Act.

(3) The Agricultural Credit Acts, 1927 to 1965, and this Act may be cited together as the Agricultural Credit Acts, 1927 to 1969.