Industrial Development Act 1986

Authority’s powers to value assets, etc.

[1969, s. 43]

36

36.For the purpose of making a grant or other payment under this Part, the Authority may, subject to the provisions of this Part, determine at its discretion the cost or value of assets of an industrial undertaking or the capital value of any payments made to or benefits received or receivable by an industrial undertaking.

Annotations:

Modifications (not altering text):

C26

Section applied with modifications by Industrial Development (Enterprise Ireland) Act 1998 (34/1998), s. 7D(b), 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— ...

(b) in section 36—

(i) ‘grant or other payment or the exercise of another right’ were substituted for ‘grant or other payment’,

(ii) ‘this Part or sections 7A to 7C of the Act of 1998,’ were substituted for ‘this Part,’ in the first place that it occurs, and ‘this Part and sections 7A to 7C of the Act of 1998,’ were substituted for ‘this Part,’ in the second place that it occurs, and

(iii) ‘an industrial undertaking or body corporate, as the case may be,’ were substituted for ‘an industrial undertaking’ in each place that it occurs,

...

and with any other necessary modifications.

C27

Functions under section transferred (1.08.2014) by Industrial Development (Forfás Dissolution) Act 2014 (13/2014), s. 18 and sch., commenced as per subs. (8) and S.I. No. 341 of 2014.

Transfer of functions to Enterprise Ireland and IDA

18. (1) The functions specified in the Schedule are transferred to Enterprise Ireland and IDA.

(2) The functions transferred under subsection (1) may be performed—

(a) by either Enterprise Ireland or IDA, or

(b) jointly by both Enterprise Ireland and IDA.

(3) The functions specified in paragraph (c) of subsection (1) of section 8 of the Act of 1987 are transferred to IDA.

(4) A function transferred under subsection (1) shall be performed by Enterprise Ireland or IDA, or both, as the case may be, in accordance with such directions (if any) as may be issued by the Minister from time to time.

(5) A function transferred under subsection (3) shall be performed by IDA in accordance with such directions (if any) as may be issued by the Minister from time to time.

(6) Any assignment of powers and functions under section 9 of the Act of 1993 to Enterprise Ireland or IDA in force immediately before the coming into operation of this section shall cease to have effect on that coming into operation.

(7) Subsection (3) of section 3 of the Act of 1995 is repealed. (8) This section shall come into operation on the dissolution day.

(8) This section shall come into operation on the dissolution day.

SCHEDULE

Section 18

Functions Transferred to Enterprise Ireland and IDA

Functions referred to in: ...

2. Subsections (3), (5) and (7) of section 5, paragraphs (a), (c) to (h) and (j) of subsection (1) of section 11, sections 16, 18 to 32 , 36 and 37 of the Industrial Development Act 1986.

...