25 1966

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Number 25 of 1966.


FUNDS OF SUITORS ACT, 1966


ARRANGEMENT OF SECTIONS

Section

1.

Interpretation.

2.

Disposal of part of funds of suitors.

3.

Deficiency in funds of suitors.

4.

Short title.


Act Referred to

Central Fund Act, 1956

1956, No. 12

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Number 25 of 1966.


FUNDS OF SUITORS ACT, 1966


AN ACT TO PROVIDE FOR DISPOSAL OF PART OF THE FUNDS OF SUITORS VESTED IN THE ACCOUNTANT OF THE COURTS OF JUSTICE. [19th July, 1966.]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:—

Interpretation.

1. —In this Act—

the account” means the general cash account of the funds of suitors which stands in the books of the Bank of Ireland in the name of the Accountant of the Courts of Justice;

the funds of suitors” means the funds of suitors vested in the Accountant of the Courts of Justice;

the Minister” means the Minister for Finance.

Disposal of part of funds of suitors.

2. —(1) The Bank of Ireland shall, upon the order of the Chief Justice, pay out of the account to the Capital Fund such sum, not exceeding £450,000, as the Minister requires.

(2) Notwithstanding anything contained in subsection (4) of section 4 of the Central Fund Act, 1956 , the Capital Fund may, to the extent to which it represents the sums paid to it pursuant to this section, be applied for or towards the rebuilding of the Abbey Theatre (including the Peacock Theatre), Dublin, and the Opera House, Cork.

(3) Not more than £415,000 shall be applied under this section for or towards the rebuilding of the Abbey Theatre (including the

Peacock Theatre), Dublin, or for the benefit of the Exchequer to repay any grant or grants already made thereout for that purpose, and not more than £35,000 shall be applied under this section for or towards the rebuilding of the Opera House, Cork, or for the benefit of the Exchequer to repay any grant or grants already made thereout for that purpose.

(4) Any sums paid to the Exchequer (not being sums paid under subsection (3) of this section) in respect of the rebuilding of the Peacock Theatre shall be paid to the Capital Fund.

(5) Notwithstanding anything contained in subsection (4) of the said section 4, the Minister shall repay to the funds of suitors any sums paid to the Capital Fund under this section which are not required for the purposes of subsection (2) or (3) of this section.

Deficiency in funds of suitors.

3. —If it happens that the funds of suitors are at any time reduced to a sum not sufficient to meet the demands upon them, the Minister, so as to afford a complete indemnity to suitors for any loss which they might sustain by reason of the passing of this Act, shall advance out of the Central Fund or the growing produce thereof such sum as he may think necessary, not exceeding £450,000.

Short title.

4. —This Act may be cited as the Funds of Suitors Act, 1966.