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DEVELOPMENT OF TOURIST TRAFFIC ACT (NORTHERN IRELAND) 1948 - SECT 33



33.(1) The Ministry [after consultation with the Board and the Advisory
Committee] may, subject to the provisions of this Act and on such terms and
conditions as to issue, repayment or otherwise as may be specified in any
loans scheme made by the Ministry with the approval of the Ministry of
Finance, make loans... for the purposes of [furnishing, equipping] improving,
altering, enlarging or structurally modifying any
registered catering establishment and, where the Board certify that in their
opinion the provision of additional catering establishments is desirable, for
the provision of such establishments:

Proviso rep. by 1955 c.19 (NI) s.27 sch.4

(2) Applications for loans under this section shall be presented to the
Ministry in such manner and shall contain such particulars as the Ministry
with the approval of the Ministry of Finance may direct.

(3) Any sums received in respect of the repayment of any loan made by the
Ministry under this section shall be paid to the Exchequer.

(4) Where the Ministry recommends that the whole or any part of the principal
or interest of any loan made under this section should be written off by
reason of the same not being likely to be recovered the Ministry of Finance
may direct that such amount shall be written off and such amount shall be
treated as a loss to the Exchequer:

Provided that nothing in this sub-section shall alter the liability of any
person to pay the principal of or interest on any such loan or part thereof
and any sum afterwards recovered whether for principal or interest in respect
of the amount so written off shall be paid to the Exchequer.

[(4A) Subject to sub-section (4B), where any instalment of principal or
interest or both principal and interest due on foot of any loan made under
this section is more than thirty-one days in arrear additional interest at
such rate as may from time to time be determined by an order made by the
Department of Finance subject to negative resolution shall, notwithstanding
any enactment or rule of law to the contrary, be chargeable on that instalment
as from the date on which it fell due and shall be recoverable therewith.

(4B) The Department may, with the approval of the Department of Finance, in
such cases as it thinks fit waive the payment of such additional interest as
is mentioned in sub-section (4A).]

(5) The Ministry shall keep such accounts of loans made under this section as
the Ministry of Finance may approve and such accounts shall be audited by the
Comptroller and Auditor-General and shall together with a report thereon be
laid before Parliament and the Ministry shall lay annually before Parliament a
statement of all losses caused to the Exchequer by reason of the principal or
interest of any loan being written off.

[(6) Loans made by the Ministry under this section shall be charged on and
issued out of the Consolidated Fund or (if the Ministry of Finance so directs)
out of moneys provided by Parliament, so, however, that the aggregate of the
sums to be charged on and issued out of the Consolidated Fund under this
sub-section shall not, unless and until Parliament otherwise determines,
exceed [two million five hundred thousand pounds].

(7) The Ministry of Finance may borrow money for the purpose of providing for
issues out of the Consolidated Fund under the last preceding sub-section.

(8) Moneys borrowed under the last preceding sub-section shall be repaid
within any period or periods not exceeding fifteen years from the date of
borrowing and provision for such repayment may be made out of moneys provided
by Parliament.]


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