CENTRAL FUND (No. 1) ACT, 1923

Type Act

Publication 1923-03-28

Last updated 2016-12-26

State Repealed superseded text

Text As published

Source Irish Statute Book

articles 5

This is the act as published. Later amendments are not folded into the text below: each one is a separate act in this repository and an entry in this law's history.

1 amending act · 2016-12-26, STATUTE LAW REVISION ACT 2016

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AN ACT TO APPLY CERTAIN SUMS OUT OF THE CENTRAL FUND TO THE SERVICE OF THE YEARS ENDING ON THE THIRTY-FIRST DAY OF MARCH, ONE THOUSAND NINE HUNDRED AND TWENTY-THREE, AND ONE THOUSAND NINE HUNDRED AND TWENTY-FOUR. [28th March, 1923.]

BE IT ENACTED BY THE OIREACHTAS OF SAORSTÁT EIREANN AS FOLLOWS:—

1 Issue of £692,914 out of the Central Fund for the service of the year ending 31 st March, 1923.

1.—The Minister for Finance may issue out of the Central Fund and apply towards making good the supply granted for the service of the year ending on the thirty-first day of March, one thousand nine hundred and twenty-three, the sum of Six Hundred and Ninety-two Thousand Nine Hundred and Fourteen Pounds.

2 Issue of £14,099,174 out of the Central Fund for the service of the year ending 31 st March, 1924.

2.—The Minister for Finance may issue out of the Central Fund, and apply towards making good the supply granted for the service of the year ending on the thirty-first day of March, one thousand nine hundred and twenty-four, the sum of Fourteen Million Ninety-nine Thousand One Hundred and Seventy-four Pounds.

3 Power of Minister for Finance to borrow.

3.—(1) The Minister for Finance may borrow from any person and the Bank of Ireland may advance to the Minister for Finance, on the credit of the said sums any sum or sums not exceeding in the whole Fourteen Million Seven Hundred and Ninety-two Thousand and Eighty-eight Pounds and for the purpose of such borrowing the Minister for Finance may create and issue any securities bearing such rate of interest, and subject to such conditions as to repayment, redemption or otherwise as he thinks fit.

(2) The principal and interest of any securities issued under this Act and the expenses incurred in connection with the issue of such securities shall be charged on the Central Fund or the growing produce thereof.

(3) Any money raised by securities issued under this Act shall be placed to the credit of the account of the Exchequer, and shall form part of the Central Fund and be available in any manner in which such Fund is available.

4 Adjustments with British Exchequer.

4.—There shall be charged on and payable out of the Central Fund or the growing produce thereof, such sum or sums as may be required for the purpose of effecting the adjustments with the British Exchequer, for which provision is made in Article 5 of the Provisional Government (Transfer of Functions) Order, 1922, and Article 74 of the Constitution of Saorstát Eireann.

5 Short Title.

5.—This Act may be cited as the Central Fund (No. 1) Act, 1923.

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