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INDUSTRIAL DEVELOPMENT ACT, 1986
The Industrial Development Authority
[1969, Sch. 2]
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. (1) The Authority shall consist of not more than nine members.
(2) The members of the Authority shall be appointed by the Minister with the consent of the Minister for Finance.
(3) 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.
(4) The Authority may act by any three of its members.
(5) The Authority may regulate its own procedure.
(6) A member of the Authority shall not be a member of a local authority.
Period of office of members. [New]
3. (1) On every anniversary of the date of commencement of this paragraph one-fifth of the members of the Authority or, if their number is not five, then the number nearest one-fifth, shall retire from office.
(2) The members to retire in every year shall be those who have been longest in office since their previous appointment, but as between persons who first became members on the same day, those to retire shall (unless they otherwise agree amongst themselves) be determined by lot.
(3) A retiring member shall be eligible for re-appointment.
(4) A member of the Authority who is in office on the date of commencement of this paragraph for a period then unexpired shall not be obliged by subparagraph (1) to retire before the completion of that period of office.
Conditions of office.
4. (1) The Minister may with the consent of the Minister for Finance remove a member from office.
(2) A member may resign his office by notice in writing to the Minister and the resignation shall take effect on the date on which the Minister receives the notice.
(3) Where a member has any financial interest directly or indirectly in any industrial, commercial or service undertaking, he shall before exercising any functions as a member, declare the nature of such interest to the Authority and shall comply with such directions as the Authority may give him in regard to it.
(4) A member shall be disqualified from holding and shall cease to hold office if he is adjudged bankrupt, or makes a composition or arrangement with his creditors, or is convicted of any indictable offence in relation to a company, or is convicted of an offence involving fraud or dishonesty, whether in connection with a company or not, or is the subject of an order under section 184 of the Companies Act, 1963 .
(5) The conditions of office applicable to Authority members and set out in subparagraphs (3) and (4) shall apply to members of boards and committees constituted under this Act.
5. (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 a member of the staff of the Authority authorised by it to act in that behalf or by the signature of two members of the staff of the Authority so authorised.
(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.
Contracts and instruments.
6. 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.
Annual Report and Accounts.
7. (1) 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.
(2) 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 money 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.
(3) 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.
8. The Authority shall supply to the Minister such information regarding its activities as he may from time to time require.