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[EN]

Uimhir 26 de 1959.


[EN]

AN tACHT UM DHEONTAIS TIONSCAIL, 1959.

[An tiontó oifigiúil.]

ACHT DO DHÉANAMH SOCRÚ CHUN DEONTAIS A THABHAIRT I gCABHAIR AR FHORBAIRT TIONSCAL I LIMISTÉIR SEACHAS LIMISTÉIR LENA mBAINEANN NA hACHTANNA UM LIMISTÉIRÍ NEAMHFHORBARTHA, 1952 AGUS 1957, DO LEASÚ NA nACHTANNA SIN, AGUS DO DHÉANAMH SOCRÚ I dTAOBH NITHE EILE A BHAINEANN LEIS NA NITHE RÉAMHRÁITE. [6 Lúnasa, 1959.] ACHTAÍTEAR AG AN OIREACHTAS MAR LEANAS :— [EN]

Léiriú.

1956, Uimh. 48.

1952, Uimh. 1.

1.—(1) San Acht seo—

[EN]

ciallaíonn “Acht 1956” an tAcht um Dheontais Tionscail, 1956;

[EN]

ciallaíonn “an tÚdarás” an tUdarás Forbartha Tionscail;

[EN]

ciallaíonn “an lá tosach feidhme” an lá a gceapfar le hordú ón Aire a thiocfaidh an tAcht seo i ngníomh;

[EN]

ciallaíonn “an Príomh-Acht” an tAcht um Límistéirí Neamhfhorbartha, 1952;

[EN]

(2) Gach focal agus abairt a úsáidtear san Acht seo agus dá sanntar brí áirithe leis an bPríomh-Acht beidh an bhrí sin leis san Acht seo.

[EN]

(3) Déanfar tagairt sa Phríomh-Acht don Acht sin a fhorléiriú, ach amháin mar a n-éilíonn an comhthéacs a mhalairt, mar thagairt don Acht seo.

[EN]

Deontais do ghnóthais nach sna límistéir neamhfhorbartha dóibh.

2.—(1) Aon uair—

[EN]

(a) is dóigh leis an mBord go bhfuil cúiseanna maithe ann nach féidir gnóthas tionscail a bhunú nó a fhorbairt sna límistéir neamhfhorbartha agus go ngabhann tábhacht náisiúnta neamhghnách leis an ngnóthas ag féachaint dá mhéid, dá ghné nó don méid is dóigh dá tháirgí a onnmhaireofar, agus

[EN]

(b) gur deimhin leis an mBord gur gá cúnamh airgid i bhfoirm deontais chun a áirithiú go ndéanfar an gnóthas a bhunú nó a fhorbairt agus gur gnóthas réasúnta buan a bheidh ann agus go seolfar go héifeachtúil an gnóthas,

[EN]

féadfaidh an Bord—

[EN]

(i) d'fhonn láithreáin nó áitribh a sholáthar, nó cabhrú lena soláthar, chun an gnóthas a bhunú nó a fhorbairt i límistéar seachas límistéar neamhfhorbartha, deontais a thabhairt ar cibé téarmaí is cuí leo chun cabhrú le daoine chun—

[EN]

(I) talamh a fháil,

[EN]

(II) foirgnimh agus oibreacha eile a dhéanamh, agus a oiriúnú, agus

[EN]

(III) seirbhísí agus saoráidí a sholáthar i ndáil le talamh, agus

[EN]

(ii) deontais a thabhairt ar cibé téarmaí is cuí leo mar chabhair chun innealra agus trealamh a sholáthar don ghnóthas.

[EN]

(2) Ní bheidh an méid iomlán a dheonfar faoi mhír (i) d'fho-alt (1) den alt seo níos mó, i gcás aon ghnóthais, ná dhá thrian an chostais a bhainfidh leis an talamh a fháil, na foirgnimh agus na hoibreacha eile a dhéanamh agus a oiriúnú agus seirbhísí agus saoráidí a sholáthar i ndáil leis an talamh.

[EN]

(3) Ní bheidh an méid iomlán a dheonfar faoi mhír (ii) d'fho-alt (1) den alt seo níos mó, i gcás aon ghnóthais, ná dhá thrian an chostais a bhainfidh leis an innealra agus an trealamh a sholáthar.

[EN]

(4) Faoi réir fo-ailt (5) den alt seo, ní bheidh an méid iomlán a dheonfar faoi fho-alt (1) den alt seo níos mó, i gcás aon ghnóthais, ná dhá chéad agus caoga míle punt.

[EN]

(5) Féadfaidh an Rialtas, ag féachaint don méid fostaíochta is dóigh do ghnóthas a chur ar fáil, a cheadú deontais is mó san iomlán ná dhá chéad agus caoga míle punt a thabhairt, faoi fho-alt (1) den alt seo, i leith an ghnóthais, agus, i gcás ceadú a bheith tugtha faoin bhfo-alt seo, ní bheidh feidhm ag an teorainn a fhorchuirtear, le fo-alt (4) den alt seo, le méid iomlán na ndeontas.

[EN]

(6) Leanfaidh an t-alt seo i ngníomh go dtí an 31ú lá de Nollaig, 1963.

[EN]

Deontais agus ráthaíochtaí i leith costas caipitiúla a bhainfidh le leictreachas a sholáthar.

3.—(1) Aon uair a dhéanfaidh an Bord, maidir le gnóthas tionscail, cumhacht a fheidhmiú faoi alt 5 den Phríomh-Acht nó deontas a thabhairt faoi alt 6 den Phríomh-Acht nó faoi alt 2 den Acht seo, féadfaidh an Bord ceachtar ní nó an dá ní acu seo a leanas a dhéanamh, is é sin le rá :

[EN]

(a) deontais a thabhairt, ar cibé téarmaí is cuí leo, mar chabhair chun Bord Soláthar an Leictreachais do sholáthar leictreachais don ghnóthas,

[EN]

(b) ráthaíocht a thabhairt, ar cibé téarmaí is cuí leo, go n-íocfar airgead is iníoctha le Bord Soláthair an Leictreachais i leith na gcostas caipitiúla a bhainfidh le Bord Soláthair an Leictreachais do sholáthar leictreachais don ghnóthas.

[EN]

(2) Ní bheidh an méid iomlán a dheonfar faoin alt seo níos mó, i gcás aon ghnóthais, ná leath na méide is iníoctha le Bord Soláthair an Leictreachais i leith na gcostas caipitiúla adúradh.

[EN]

(3) Leanfaidh an t-alt seo i ngníomh go dtí an 31ú lá de Nollaig, 1963.

[EN]

Deontais a thabhairt a socraíodh faoi Acht 1956.

4.—(1) I gcás deontas a chinn an tÚdarás a thabhairt faoi Acht 1956 a bheith gan íoc go hiomlán nó go páirteach an lá tosach feidhme, tabharfaidh an Bord an deontas, nó an chuid de a bheidh gan íoc, ar na téarmaí céanna a chinn an tÚdarás.

[EN]

(2) Leanfaidh an t-alt seo i ngníomh go dtí an 31ú lá de Nollaig, 1963.

[EN]

Deontais agus ráthaíochtaí ón Aire tar éis ailt 2, 3 agus 4 den Acht seo a dhul in éag.

5.—(1) I gcás deontas a chinn an Bord a thabhairt faoi alt 2 nó alt 3 den Acht seo nó a cheanglaítear ar an mBord a thabhairt faoi alt 4 den Acht seo a bheith gan íoc go hiomlán nó go páirteach ar na hailt sin a dhul in éag, tabharfaidh an tAire an deontas, nó an chuid de a bheidh gan íoc, ar na téarmaí a chinn an Bord nó an tÚdarás, de réir mar bheidh.

[EN]

(2) I gcás ina mbeidh airgead ar ráthaigh an Bord faoi alt 3 den Acht seo é a íoc gan íoc go hiomlán nó go páirteach ar an alt sin a dhul in éag, ráthóidh an tAire go n-íocfar an t-airgead nó an chuid neamhíoctha de ar na téarmaí céanna a chinn an Bord.

[EN]

(3) Íocfar as airgead a sholáthróidh an tOireachtas deontais a thabharfar agus íocaíochtaí a dhéanfar ar scór ráthaíochtaí faoin alt seo.

[EN]

Teorainn le méid iomlán deontas.

6.—(1) Ní bheidh méid comhiomlán na ndeontas a bheidh arna dtabhairt ag an Údarás faoi Acht 1956 agus na ndeontas (seachas deontais faoi alt 12 den Phríomh-Acht) a bheidh arna dtabhairt ag an mBord agus ag an Aire faoi na hAchtanna um Límistéirí Neamhfhorbartha, 1952 agus 1957, agus faoin Acht seo, agus íocaíochtaí arna ndéanamh ag an mBord agus ag an Aire ar scór ráthaíochtaí ón mBord agus ón Aire faoin Acht seo níos mó ná deich milliún punt.

[EN]

(2) Ní bheidh méid comhiomlán na ndeontas faoi alt 12 den Phríomh-Acht agus faoi alt 3 d'Acht 1956 níos mó ná deich milliún punt.

[EN]

Cuntais ar leithligh.

7.—Beidh sna cuntais a cheanglaítear ar an mBord le mír 10 den Chéad Sceideal a ghabhann leis an bPriomh-Acht a choimeád cuntais ar leithligh ar airgead a gheobhaidh siad agus a chaithfidh siad faoin Acht seo.

[EN]

Tuarascáil ar leithligh.

8.—(1) Beidh sa tuarascáil a cheanglaítear ar an mBord le mír 11 den Chéad Sceideal a ghabhann leis an bPríomh-Acht a thabhairt don Aire tuarascáil ar leithligh i dtaobh a ngníomhachtaí faoin Acht seo.

[EN]

(2) Beidh sa chéad tuarascáil a thabharfar de bhun na míre sin 11 tar éis an lá tosach feidhme tuarascáil ar leithligh ar ghníomhachtaí an Údaráis faoi Acht 1956 roimh an lá tosach feidhme agus tar éis na ngníomhachtaí is ábhar don tuarascáil deiridh a bheidh tugtha ag an Údarás de bhun míre 7 den Sceideal a ghabhann le hAcht 1956.

[EN]

Maoin a aistriú.

9.—(1) Faoi réir forálacha an ailt seo, an mhaoin uile réadach nó pearsanta (lena n-áirítear ábhair i gcaingean) a bheidh, díreach roimh an lá tosach feidhme, dílsithe san Údarás nó dá gcuid féin acu nó ar teachtadh ar iontaobhas dóibh i ndáil lena ndualgais, a gcumhachtaí agus a bhfeidhmeanna faoi Acht 1956, agus gach ceart, cumhacht agus pribhléid a bhaineann nó a ghabhann le haon mhaoin den sórt sin tiocfaidh siad chun bheith agus beidh siad, an lá tosach feidhme agus gan tíolacadh ná sannadh ar bith ach faoi réir a n-aistrithe, más gá sin, i leabhair aon bhainc nó corparáide nó cuideachta nó údaráis, dílsithe sa Bhord nó dá gcuid féin acu nó ar teachtadh ar iontaobhas dóibh (de réir mar is gá sa chás) chun an eastáit, an iontaobhais nó an leasa uile chun a raibh an céanna, díreach roimh an lá tosach feidhme, dílsithe san Údarás nó dá gcuid féin acu nó ar teachtadh ar iontaobhas dóibh.

[EN]

(2) An mhaoin uile a aistrítear leis an alt seo agus a bheidh, díreach roimh an lá tosach feidhme, ar seasamh i leabhair aon bhainc nó cláraithe i leabhair aon bhainc, corparáide, cuideachta nó údaráis, déanfaidh an banc, an chorparáid, an chuideachta nó an t-údarás sin, ar an mBord dá iarraidh sin an lá tosach feidhme nó dá éis, í a aistriú sna leabhair sin chun ainme an Bhoird.

[EN]

(3) Gach ábhar i gcaingean a aistrítear leis an alt seo chun an Bhoird, féadfaidh an Bord, an lá tosach feidhme agus dá éis, agra a dhéanamh ina leith, é a ghnóthú nó a chur i bhfeidhm ina n-ainm féin, agus ní gá don Bhord fógra i dtaobh an aistrithe a dhéantar leis an alt seo a thabhairt don duine a bheidh faoi cheangal ag an ábhar i gcaingean sin.

[EN]

Dliteanais a aistriú.

10.—Gach fiach agus gach dliteanas eile (lena n-áirítear dliteanais neamhleachtaithe as torta nó as sáruithe conartha) a bhainfidh leis an Údarás d'fheidhmiú nó do chomhlíonadh a ndualgas, a gcumhachtaí agus a bhfeidhmeanna faoi Acht 1956 agus a bheidh, díreach roimh an lá tosach feidhme, dlite ón Údarás agus gan íoc acu, nó tabhaithe agus gan fuascailt acu, tiocfaidh siad chun bheith agus beidh siad, an lá tosach feidhme, ina fhiach nó ina dhliteanas ar an mBord agus íocfaidh nó fuasclóidh an Bord iad agus féadfar iad a ghnóthú ón mBord nó iad a chur i bhfeidhm ina gcoinne dá réir sin.

[EN]

Conarthaí leanúnacha a choimeád i bhfeidhm.

11.—Gach banna, ráthaíocht, morgáiste nó urrús eile de chineál leanúnach a bheidh déanta nó a bheidh tugtha ag an Údarás do dhuine ar bith agus an tÚdarás ag feidhmiú nó ag comhlíonadh a ndualgas, a gcumhachtaí agus a bhfeidhmeanna faoi Acht 1956 nó ag duine ar bith don Údarás, agus a bheidh i bhfeidhm díreach roimh an lá tosach feidhme, agus gach conradh nó comhaontú i scríbhinn a bheidh déanta amhlaidh idir an tÚdarás agus duine eile agus nach mbeidh forghníomhaithe agus comhlánaithe go hiomlán roimh an lá tosach feidhme, leanfaidh sé, d'ainneoin Acht 1956 a athghairm, de bheith i bhfeidhm an lá tosach feidhme agus dá éis, ach forléireofar é agus beidh éifeacht aige amhail is dá gcuirtí ainm an Bhoird ann in ionad ainme an Údaráis agus beidh an t-urrús, an conradh nó an comhaontú sin inchurtha i bhfeidhm dá réir sin ag an mBord nó ina gcoinne.

[EN]

Leanúint d'imeachtaí dlí a bheidh ar feitheamh.

12.—Gach caingean, agra nó imeacht a bhainfidh leis an Údarás d'feidhmiú nó do chomhlíonadh a ndualgas, a gcumhachtaí agus a bhfeidhmeanna faoi Acht 1956 agus a bheidh ar feitheamh an lá tosach feidhme in aon chúirt nó binse agus a mbeidh an tÚdarás ina bpáirtí iontu, tiocfaidh an Bord chun bheith agus beidh siad, an lá tosach feidhme, ina bpáirtí iontu in ionad an Údaráis agus leanfar de na himeachtaí sin idir an Bord agus na páirtithe eile iontu dá réir sin agus ní thitfidh aon imeachtaí den sórt sin ar lár ná ní thiocfaidh deireadh leo ná ní dhéanfar dochar dóibh de dhroim Acht 1956 a athghairm.

[EN]

Díolúine ó dhleacht stampa.

1895, c. 16.

13.—Ní bheidh feidhm ag alt 12 den Finance Act, 1895, maidir le maoin an Údaráis a dhílsiú sa Bhord.

[EN]

Athghairm.

14.—Déantar leis seo gach achtachán a luaitear sa Sceideal a ghabhann leis an Acht seo a athghairm a mhéid a shonraítear sa tríú colún den Sceideal.

[EN]

Gearrtheideal agus tosach feidhme.

15.—(1) Féadfar an tAcht um Dheontais Tionscail, 1959, a ghairm den Acht seo.

[EN]

(2) Tiocfaidh an tAcht seo i ngníomh cibé lá a cheapfaidh an tAire le hordú.

[EN]

AN SCEIDEAL.

Achtacháin a Athghairtear.

Alt 14.

Uimhir agus Bliain

Gearrtheideal

Méid na hAthghairme

Uimh. 1 de 1952.

An tAcht um Límistéirí Neamhfhorbartha, 1952.

Fo-alt (2) d'alt 12.

Uimh. 48 de 1956.

An tAcht um Dheontais Tionscail, 1956.

An tAcht iomlán.

Uimh. 23 de 1957.

An tAcht um Límistéirí Neamhfhorbartha (Leasú), 1957.

Fo-alt (3) d'alt 3.

[GA]

harp.jpg


Number 26 of 1959.


[GA]

INDUSTRIAL GRANTS ACT, 1959.


ARRANGEMENT OF SECTIONS

Section

1.

Interpretation.

2.

Grants for undertakings not in undeveloped areas.

3.

Grants and guarantees in respect of capital costs of providing electricity supply.

4.

Making of grants arranged under the Act of 1956.

5.

Grants and guarantees by the Minister after expiry of sections 2, 3 and 4 of this Act.

6.

Limitation on total of grants.

7.

Separate accounts.

8.

Separate report.

9.

Transfer of property.

10.

Transfer of liabilities.

11.

Preservation of continuing contracts.

12.

Continuance of pending legal proceedings.

13.

Exemption from stamp duty.

14.

Repeals.

15.

Short title and commencement.

SCHEDULE

Enactments Repealed.


Acts Referred to

Industrial Grants Act, 1956

1956, No. 48

Undeveloped Areas Act, 1952

1952, No. 1

Finance Act, 1895

1895, c. 16

harp.jpg


Number 26 of 1959.


INDUSTRIAL GRANTS ACT, 1959.


AN ACT TO PROVIDE FOR THE MAKING OF GRANTS IN AID OF INDUSTRIAL DEVELOPMENT IN AREAS OTHER THAN AREAS TO WHICH THE UNDEVELOPED AREAS ACTS, 1952 AND 1957, APPLY, TO AMEND THOSE ACTS, AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [6th August, 1959.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— [GA]

Interpretation.

1.—(1) In this Act—

[GA]

the Act of 1956” means the Industrial Grants Act, 1956;

[GA]

the Authority” means the Industrial Development Authority;

[GA]

the commencement day” means the day appointed by order of the Minister on which this Act comes into operation;

[GA]

the Principal Act” means the Undeveloped Areas Act, 1952.

[GA]

(2) Every word and expression used in this Act to which a particular meaning is assigned by the Principal Act shall, in this Act, have that meaning.

[GA]

(3) A reference in the Principal Act to that Act shall, save where the context otherwise requires, be construed as including a reference to this Act.

[GA]

Grants for undertakings not in undeveloped areas.

2.— (1) Whenever the Board—

[GA]

(a) are of opinion that there are sound reasons why an industrial undertaking cannot be established or developed in the undeveloped areas and that the undertaking is, having regard to its size, character or the probable extent to which its products are likely to be exported, of exceptional national importance, and

[GA]

(b) are satisfied that financial assistance by way of grant is necessary to ensure the establishment or development of the undertaking and that the undertaking will be of a reasonably permanent nature and will be carried of efficiently,

[GA]

the Board may—

[GA]

(i) for the purpose of providing or facilitating the provision of sites or premises for the establishment or development in an area other than an undeveloped area of the undertaking make grants, on such terms as they think proper, to aid persons to—

[GA]

(I) acquire land,

[GA]

(II) construct and adapt buildings and other works, and

[GA]

(III) provide services and facilities in connection with land, and

[GA]

(ii) make grants, on such terms as they think proper, towards the provision of machinery and equipment for the undertaking.

[GA]

(2) The total amount granted under paragraph (i) of subsection (1) of this section shall not in the case of any undertaking exceed two-thirds of the cost of the acquisition of the land, the construction and adaptation of the buildings and other works and the provision of services and facilities in connection with the land.

[GA]

(3) The total amount granted under paragraph (ii) of subsection (1) of this section shall not in the case of any undertaking exceed one-third of the cost of the provision of machinery and equipment.

[GA]

(4) Subject to subsection (5) of this section, the total amount granted under subsection (1) of this section shall not in the case of any undertaking exceed two hundred and fifty thousand pounds.

[GA]

(5) The Government may, having regard to the amount of employment likely to be afforded by an undertaking, approve of the making under subsection (1) of this section in respect of the undertaking of grants the total amount of which exceeds two hundred and fifty thousand pounds, and, where an approval has been given under this subsection, the limitation imposed by subsection (4) of this section on the total amount of the grants shall not apply.

[GA]

(6) This section shall continue in operation until the 31st day of December, 1963.

[GA]

Grants and guarantees in respect of capital costs of providing electricity supply.

3.—(1) Whenever, in respect of an industrial undertaking, the Board exercise a power under section 5 of the Principal Act or make a grant under section 6 of the Principal Act or section 2 of this Act, the Board may do either or both of the following, that is to say:

[GA]

(a) make grants, on such terms as they think proper, towards the capital costs of the provision by the Electricity Supply Board of an electricity supply for the undertaking,

[GA]

(b) guarantee, on such terms as they think proper, the payment of moneys payable to the Electricity Supply Board in respect of the capital costs of the provision by the Electricity Supply Board of an electricity supply for the undertaking.

[GA]

(2) The total amount granted under this section shall not in the case of any undertaking exceed one half of the amount payable to the Electricity Supply Board in respect of the capital costs aforesaid.

[GA]

(3) This section shall continue in operation until the 31st day of December, 1963.

[GA]

Making of grants arranged under the Act of 1956.

4.—(1) Where a grant which the Authority have decided to make under the Act of 1956 remains unpaid in whole or in part on the commencement day, the Board shall make the grant or the unpaid part thereof on the terms which were determined by the Authority.

[GA]

(2) This section shall continue in operation until the 31st day of December, 1963.

[GA]

Grants and guarantees by the Minister after expiry of sections 2, 3 and 4 of this Act.

5.—(1) Where a grant which the Board have decided to make under section 2 or section 3 of this Act or which the Board are required to make under section 4 of this Act remains unpaid in whole or in part on the expiry of those sections, the Minister shall make the grant or the unpaid part thereof on the terms which were determined by the Board or the Authority, as the case may be.

[GA]

(2) Where moneys the payment of which was guaranteed by the Board under section 3 of this Act remain unpaid in whole or in part on the expiry of that section, the Minister shall guarantee the payment of the moneys or the unpaid part thereof on the terms which were determined by the Board.

[GA]

(3) Grants and payments on foot of guarantees under this section shall be made out of moneys provided by the Oireachtas.

[GA]

Limitation on total of grants.

6.—(1) The aggregate amount of grants made by the Authority under the Act of 1956 and of grants (other than grants under section 12 of the Principal Act) made by the Board and the Minister under the Undeveloped Areas Acts, 1952 and 1957, and this Act and of payments made by the Board and the Minister on foot of guarantees given by the Board and the Minister under this Act shall not exceed ten million pounds.

[GA]

(2) The aggregate amount of grants under section 12 of the Principal Act and section 3 of the Act of 1956 shall not exceed ten million pounds.

[GA]

Separate accounts.

7.—The accounts which the Board are required by paragraph 10 of the First Schedule to the Principal Act to keep shall include separate accounts of moneys received and expended by them under this Act.

[GA]

Separate report.

8.—(1) The report which the Board are required by paragraph 11 of the First Schedule to the Principal Act to submit to the Minister shall include a separate report of their activities under this Act.

[GA]

(2) The first report submitted pursuant to the said paragraph 11 after the commencement day shall include a separate report of the activities of the Authority under the Act of 1956 before the commencement day and subsequent to the activities the subject of the last report submitted by the Authority pursuant to paragraph 7 of the Schedule to the Act of 1956.

[GA]

Transfer of property.

9.—(1) Subject to the provisions of this section all property whether real or personal (including choses-in-action) which immediately before the commencement day is vested in, or belongs to or is held in trust for, the Authority, in relation to their duties, powers and functions under the Act of 1956, and all rights, powers and privileges relating to or connected with any such property shall, on the commencement day and without any conveyance or assignment but subject where necessary to transfer in the books of any bank, corporation or company or authority, become and be vested in or the property of or held in trust for (as the case may require) the Board for all the estate, trust or interest for which the same immediately before the commencement day was vested in or belonged to or was held in trust for the Authority.

[GA]

(2) All property transferred by this section which, immediately before the commencement day is standing in the books of any bank or is registered in the books of any bank, corporation, company or authority shall, upon the request of the Board made on or after the commencement day be transferred in such books by such bank, corporation, company or authority into the name of the Board.

[GA]

(3) On and after the commencement day every chose-in-action transferred by this section to the Board may be sued upon, recovered or enforced by the Board in their own name and it shall not be necessary for the Board to give notice to the person bound by such chose-in-action of the transfer effected by this section.

[GA]

Transfer of liabilities.

10.—Every debt and other liability (including unliquidated liabilities arising from torts or breaches of contract) arising out of the exercise or performance by the Authority of their duties, powers and functions under the Act of 1956 which immediately before the commencement day is owing and unpaid or has been incurred and is undischarged by the Authority shall, on the commencement day, become and be the debt or liability of the Board and shall be paid or discharged by and may be recovered from or enforced against the Board accordingly.

[GA]

Preservation of continuing contracts.

11.—Every bond, guarantee, mortgage or other security of a continuing nature made or given in the course of the exercise or performance by the Authority of their duties, powers and functions under the Act of 1956 by the Authority to any person or by any person to the Authority, and in force immediately before the commencement day and every contract or agreement in writing so made between the Authority and another person and not fully executed and completed before the commencement day shall, notwithstanding the repeal of the Act of 1956, continue in force on and after the commencement day but shall be construed and have effect as if the name of the Board were substituted therein for the name of the Authority and such security, contract or agreement shall be enforceable by or against the Board accordingly.

[GA]

Continuance of pending legal proceedings.

12.—In every action, suit or proceedings arising out of the exercise or performance by the Authority of their duties, powers and functions under the Act of 1956 which is pending on the commencement day in any court or tribunal and to which the Authority is a party, the Board shall on the commencement day become and be a party in the place of the Authority and such proceedings shall be continued between the Board and the other parties thereto accordingly and no such proceedings shall, abate or be discontinued or prejudicially affected by reason of the repeal of the Act of 1956.

[GA]

Exemption from stamp duty.

13.—Section 12 of the Finance Act, 1895, shall not apply to the vesting in the Board of the property of the Authority.

[GA]

Repeals.

14.—Each enactment mentioned in the Schedule to this Act is hereby repealed to the extent specified in the third column of the Schedule.

[GA]

Short title and commencement.

15.—(1) This Act may be cited as the Industrial Grants Act, 1959.

[GA]

(2) This Act shall come into operation on such day as the Minister shall by order appoint.

[GA][GA]

SCHEDULE.

Enactments Repealed.

Section 14.

Number and Year

Short Title

Extent of Repeal

No. 1 of 1952.

Undeveloped Areas Act, 1952.

Subsection (2) of section 12.

No. 48 of 1956.

Industrial Grants Act, 1956.

The whole Act.

No. 23 of 1957.

Undeveloped Areas (Amendment) Act, 1957.

Subsection (3) of section 3.