Science and Technology Act 1987

Expenditure by Agency.

18

18.—The funds of the Agency may be used—

(a) for the payment of expenses incurred by it in the performance of its functions, and

(b) for the making of payments, grants or loans for any purpose that, in the opinion of the Agency, is conducive to the promotion and development of scientific and technological activities.

Annotations

Modifications (not altering text):

C7

Functions under subss. (1)(a), (1)(d), (1)(f)-(i), (2), (3)(d)-(g) and (3)(i)-(m) 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(7) Subsection (3) of section 3 of the Act of 1995 is repealed.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.

SCHEDULE

Section 18

Functions Transferred to Enterprise Ireland and IDA

Functions referred to in: ...

3. Paragraphs (a), (d) and (f) to (i) of subsection (1), subsection (2) and paragraphs (d) to (g) and (i) to (m) of subsection (3), of section 8, and sections 12 and 18, of the Act of 1987.

C8

References construed (6.07.1993) by Industrial Development Act 1993 (19/1993), s. 9(3), commenced on enactment, as amended (23.07.1999) by Industrial Development (Enterprise Ireland) Act 1998 (34/1998), s. 44(4), commenced as per s. 44(5). Subsection further amended (25.07.2003) by Industrial Development (Science Foundation Ireland) Act 2003 (30/2003), s. 35(d), S.I. No. 325 of 2003.

9.— ...

(3) For the purposes of this section, references in the Act of 1986 and in the Shannon Free Airport Development Company Limited (Amendment) Act, 1970 to “the Authority” and in the Act of 1987 to “the Agency” shall be construed as references to [Forfás, Enterprise Ireland, IDA and Science Foundation Ireland], or to any of them, as may be appropriate.