Industrial Development Act 1986

Government’s power in regard to industrial incentives.

35

35.Where, under any of the preceding sections of this Part, the permission of the Government is required for the making of a grant or loan guarantee or the purchase of shares, the Government may, in lieu of granting such permission, grant permission to the Authority for the expenditure of a lower amount in respect of such grant, guarantee or purchase or may grant permission subject to such conditions as the Government may specify.

Annotations:

Modifications (not altering text):

C25

Section applied with modifications by Industrial Development (Enterprise Ireland) Act 1998 (34/1998), s. 7D(a), as inserted (7.01.2020) by Industrial Development (Amendment) Act 2019 (46/2019), s. 3, S.I. No. 62 of 2020.

Application of certain provisions of Part III of Act of 1986

7D. Sections 35 to 37 of the Act of 1986 shall apply to sections 7A to 7C as if—

(a) in section 35—

(i) ‘this Part or sections 7A to 7C of the Act of 1998’ were substituted for ‘this Part’,

(ii) ‘loan or loan guarantee or subscription for a convertible debt instrument within the meaning of section 7B of the Act of 1998’ were substituted for ‘loan guarantee’,

(iii) ‘grant, loan, guarantee, subscription or purchase’ were substituted for ‘grant, guarantee or purchase’, and

(iv) ‘Authority or Enterprise Ireland’ were substituted for ‘Authority’,

...

and with any other necessary modifications.