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2 1978

AGRICULTURAL CREDIT ACT, 1978

PART I

Preliminary and General

Short title.

1. —This Act may be cited as the Agricultural Credit Act, 1978.

Commencement.

2. —This Act shall come into operation on such day as the Minister by order appoints.

Interpretation.

[1947, s. 3; 1961, s. 8.]

3. —(1) In this Act, except where the context otherwise requires—

agriculture” includes—

(a) the breeding, rearing or keeping of animals of any kind (including birds and insects),

(b) fish culture,

(c) dairying,

(d) the pasturing of animals,

(e) afforestation,

(f) the processing, manufacture, preparation or completion for sale of any farm produce, and

(g) the marketing of any farm produce,

and “agricultural” shall be construed accordingly;

the Corporation” means the Agricultural Credit Corporation, Limited;

farm” means the land or buildings or the land and buildings on or in which the farmer, in relation to whom the word is used, carries on some form of agriculture;

farmer” means an individual who carries on or intends to carry on some form of agriculture and includes—

(a) two or more individuals who jointly or in common carry on or intend to carry on some form of agriculture,

(b) the personal representative of a deceased person who, for the benefit of the estate of the deceased person, carries on or intends to carry on some form of agriculture,

(c) the trustee of a settlement who, for the benefit of the persons beneficially entitled under the settlement, carries on or intends to carry on some form of agriculture,

(d) any body corporate which carries on or intends to carry on, as its principal business, some form of agriculture, and

(e) two or more bodies corporate which jointly or in common carry on or intend to carry on, as their principal business, some form of agriculture;

the Land Commission” means the Irish Land Commission;

the Minister” means the Minister for Finance;

settlement” means the deed, will or other instrument, parol declaration or construction of law, by virtue of which the trustee, in relation to whom the word is used, is such trustee;

stock” has the meaning assigned by section 23;

trustee” includes a trustee under a trust created by parol and also a trustee by construction of law.

(2) A reference in this Act to a Part or section is to a Part or section of this Act unless it is indicated that reference to some other enactment is intended.

(3) A reference in this Act to any enactment shall be construed as a reference to that enactment as amended by any subsequent enactment.

Central Fund.

[1961, s. 15.]

4. —All money from time to time required by the Minister to meet sums which may become payable by him under this Act shall be paid out of the Central Fund or the growing produce thereof.

Payment into Exchequer of money paid to Minister.

5. —Money paid to the Minister by the Corporation in pursuance of any provision of this Act shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister may direct.

Expenses.

6. —The expenses incurred by the Minister in the administration of this Act shall be paid out of money provided by the Oireachtas.

Repeals.

7. —(1) The enactments mentioned in the Schedule are hereby repealed to the extent specified in the third column.

(2) All instruments made under an enactment repealed by this Act shall, if in force immediately before the commencement of this Act, continue in force as if made under this Act.