No. 1/1988:

HOUSING FINANCE AGENCY (AMENDMENT) ACT, 1988

ARRANGEMENT OF SECTIONS

Section

1. Interpretation.

2. Amendment of section 5 of Principal Act.

3. Amendment of section 10 of Principal Act.

4. Amendment of section 14 of Principal Act.

5. Short title, collective citation and construction.

ACTS REFERRED TO

Number 1 of 1988

No. 1/1988: HOUSING FINANCE AGENCY (AMENDMENT) ACT, 1988

AN ACT TO AMEND AND EXTEND THE HOUSING FINANCE AGENCY ACTS, 1981 TO 1985.

[8th February, 1988].

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

1.—In this Act—

"the Act of 1985" means the Housing Finance Agency (Amendment) Act, 1985 ;

"the Principal Act" means the Housing Finance Agency Act, 1981 .

2.—(1) section 5 of the Principal Act is hereby amended by—

( a ) the substitution for subsection (1) ( b ) of the following paragraph—

"( b ) advance moneys to a housing authority to enable the authority—

(i) to make loans for the purpose of acquiring, constructing, or carrying out improvement works to, houses, and

(ii) to pay grants under section 6 of the Housing (Miscellaneous Provisions) Act, 1979 .",

and

( b ) the substitution for subsection (2) of the following subsection—

"(2) Where moneys are advanced to a housing authority under subsection (1) of this section for the making of loans, the authority shall use such moneys to make loans—

( a ) under section 39 of the Housing Act, 1966 , or

( b ) in accordance with such terms and conditions relating to the acquisition and construction of houses as have, from time to time, been approved of for the purposes of this section by the Minister and by the Minister for Finance, or

( c ) under section 8 of the Housing (Miscellaneous Provisions) Act, 1.979.".

(2) This section shall be deemed to have come into operation on the 1st day of July, 1987.

3.—Section 10 (as amended by the Housing Finance Agency (Amendment) Act, 1982 , and the Act of 1985) of The Principal Act is hereby amended by the substitution in subsection (3) for "£500,000,000" (inserted by the Act of 1985) of "£1,000,000,000".

4.—The Principal Act is hereby amended by the substitution for section 14 of the following section:

"14.—(1) The Agency, in performing its functions, shall secure that, having regard to any contribution which may be made by the Minister under subsection (2) of this section, and taking one year with another, all its costs are met from its operations.

(2) The Minister may, with the consent of the Minister for Finance, make, out of moneys provided by the Oireachtas, a contribution towards the costs of the Agency.

(3) This section shall be deemed to have come into operation on the 1st day of December, 1986.".

5.—(1) This Act may be cited as the Housing Finance Agency (Amendment) Act, 1988 .

(2) The Housing Finance Agency Acts, 1981 to 1985, and this Act may be cited together as the Housing Finance Agency Acts, 1981 to 1988, and shall be construed together as one Act.