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Adapation of Section 54 of the Act of 1911.
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28.—(1) Section 54 of the Act of 1911 shall be construed and take effect as if—
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(a) the words “Military Forces (International Arrangements) Insurance Fund” were substituted for the words “Navy and Army Insurance Fund” wherever those words occur in the said Section; and
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(b) the words “Minister for Finance” were substituted for the words “National Debt Commissioners” wherever those words occur in the said Section; and
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(c) the words “in which trustees are for the time being authorised by law to invest trust moneys” were substituted for the words in sub-section (3) beginning “which are for the time being” and ending “1890 to 1909” (inclusive).
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(2) So much of the securities vested in the National Debt Commissioners under the said Section 54 of the Act of 1911 at the passing of this Act as are proved, on any apportionment made under this Act or otherwise, to be attributable to Saorstát Eireann may be transferred to and received by the Minister for Finance, and when so received shall be held by the Minister in accordance with the provisions of the said Section 54.
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