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Version date: 15 December 2021 - onwards
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42B. Funding of the Land Development Agency

(1) Notwithstanding any other provision of this Act, the Minister may, on the request of the Minister for Housing, Local Government and Heritage, made where that Minister of the Government is satisfied that it is necessary or expedient for the achievement of the purposes of the Land Development Agency Act 2021, direct the Agency to -

(a) lend money to the Land Development Agency or any subsidiary DAC out of the assets of the Fund on the commercial terms and conditions specified in the direction,

(b) exercise, on the terms and conditions specified in the direction, any rights attaching to a loan made under paragraph (a),

(c) terminate or dispose of, on the terms and conditions specified in the direction, a loan made under paragraph (a), or

(d) pay money to the Land Development Agency or any subsidiary DAC out of the assets of the Fund for the purposes of discharging the liability of the Minister in respect of the shares allotted and issued to the Minister for Housing, Local Government a

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