[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here:  BAILII >> Databases >> Northern Irish Legislation >> DEVELOPMENT LOANS (AGRICULTURE AND FISHERIES) ACT (NORTHERN IRELAND) 1968

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

DEVELOPMENT LOANS (AGRICULTURE AND FISHERIES) ACT (NORTHERN IRELAND) 1968 - SECT 5

5.(1) Loans (not being local loans within the meaning of Article I of Schedule
1 to the Government Loans Act (Northern Ireland) 1957) for the purposes of
fishery development as specified in Part II of Schedule 1 may be made by the
Ministry upon such security and on such terms as may be determined by the
Ministry in accordance with and subject to the provisions of any loans scheme
prescribed by the Ministry with the approval of the Ministry of Finance.

Subs.(2) rep. by 1979 NI12 art.11(2) sch.5

(3) Any sum received in respect of the repayment of any loan made by the
Ministry for the purposes specified in Part II of Schedule 1 shall be paid
into the Exchequer.

(4) Where the Ministry recommends that the whole or any part of the principal
or interest of any loan made under subsection (1) 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, but nothing in this subsection 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 into the
Exchequer.

(5) The Ministry shall keep such accounts of loans made under subsection (1)
as the Ministry of Finance may approve, and such accounts shall be audited by
the Comptroller and Auditor-General and shall, together with his report
thereon, be laid before Parliament.

(6) 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.

(7) Loans made under subsection (1) shall be issued out of moneys provided by
Parliament.

Interest on loans.

© 1968 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/dlafai1968586/s5.html