Number 9 of 1942.

BUILDING SOCIETIES ACT, 1942.

ARRANGEMENT OF SECTIONS

Number 9 of 1942.

BUILDING SOCIETIES ACT, 1942.

The Principal Act.

1.—In this Act the expression “the Principal Act” means the Building Societies Act, 1874.

Amendment of section 15 of the Principal Act.

2.—(1) Section 15 of the Principal Act is hereby amended by the deletion of paragraph (2) thereof and the substitution in lieu of that paragraph of the following paragraph, that is to say :—

“(2) In a permanent society the total amount so received on deposit or loan and not repaid by the society (not reckoning any loan the payment of which by the society is guaranteed by a local authority under section 3 of the Housing (Amendment) Act, 1941 (No. 18 of 1941) ) shall not at any time exceed three-fourths of the amount for the time being secured to the society by mortgages from its members.”

(2) Section 15 of the Principal Act is hereby amended by the deletion of paragraph (5) thereof and the substitution in lieu of that paragraph of the following paragraph, that is to say :—

“(5) Every deposit book or acknowledgment or security of any kind given for a deposit or loan by a society shall have printed or written therein or thereon, the whole of the following sections, that is to say: section 14 of the Building Societies Act, 1874, section 15 of that Act as amended by the Building Societies Act, 1942, and section 14 of the Building Societies Act, 1894.”

Power to take collateral security into account in determining advance.

3.—(1) In determining the amount of any advance made before the passing of this Act upon the security of freehold or leasehold estate, a society to which the Principal Act applies shall be deemed always to have had power to take into account, besides the freehold or leasehold estate, the value of any additional security for the advance.

(2) In determining the amount of any advance made after the passing of this Act upon the security of freehold or leasehold estate, a society to which the Principal Act applies shall have power to take into account, besides the freehold or leasehold estate, the value of any additional security for the advance.

Short title and collective citation.

4.—(1) This Act may be cited as the Building Societies Act, 1942.

(2) The Building Societies Acts, 1874 to 1936, and this Act may be cited together as the Building Societies Acts, 1874 to 1942.

Uimhir 9 de 1942

ACHT CUMANN FOIRGNÍOCHTA, 1942.

[An tionntódh oifigeamhail]

An Príomh-Acht.

1.—San Acht so cialluíonn an abairt “an Príomh-Acht” an Building Societies Act, 1874.

Alt 15 den Phríomh-Acht do leasú.

2.—(1) Leasuítear leis seo alt 15 den Phríomh-Acht tré mhír (2) dhe do scriosadh agus an mhír seo leanas do chur in ionad na míre sin, sé sin le rá:—

“(2) In a permanent society the total amount so received on deposit or loan and not repaid by the society (not reckoning any loan the payment of which by the society is guaranteed by a local authority under section 3 of the Housing (Amendment) Act, 1941 (No. 18 of 1941) ) shall not at any time exceed threefourths of the amount for the time being secured to the society by mortgages from its members.”

(2) Leasuítear leis seo alt 15 den Phríomh-Acht tré mhír (5) de do scriosadh agus an mhír seo leanas do chur in ionad na míre sin, sé sin le rá:—

“(5) Every deposit book or acknowledgment or security of any kind given for a deposit or loan by a society shall have printed or written therein or thereon the whole of the following sections, that is to say: section 14 of the Building Societies Act, 1874, section 15 of that Act as amended by the Building Societies Act, 1942, and section 14 of the Building Societies Act, 1894.”

Comhacht chun co-urrús do chur san áireamh le linn réimhíoc do chinneadh.

3.—(1) Ag cinneadh dhóibh ar mhéid aon réimhíoca do rinneadh roimh dháta an Achta so do rith ar urrús estáit saor-sheilbhe no estáit léas-seilbhe, is tuigthe é bheith de chomhacht riamh ag cumann le n-a mbaineann an Príomh-Acht luach aon urrúis bhreise ar an réimhíoc do chur san áireamh i dteanta an estáit saor-sheilbhe no an estáit léas-seilbhe.

(2) Ag cinneadh dhóibh ar mhéid aon réimhíoca déanfar tar éis dáta an Achta so do rith ar urrús estáit saor-sheilbhe no estáit léasseilbhe, beidh sé de chomhacht ag cumann le n-a mbaineann an Príomh-Acht luach aon urrúis bhreise ar an réimhíoc do chur san áireamh i dteanta an estáit saor-sheilbhe no an estáit léas-seilbhe.

Gearr-theideal agus có-luadh.

4.—(1) Féadfar an tAcht Cumann Foirgníochta, 1942, do ghairm den Acht so.

(2) Féadfar na hAchtanna Cumann Foirgníochta, 1874 go 1942, do ghairm d'Achtanna na gCumann Foirgneoireachta, 1874 go 1936, agus den Acht so le chéile.