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Telephone Capital Act, 1924

Minister for Finance may borrow for purposes of this Act.

2.—(1) For the purpose of providing money for the sums by this Act authorised or deemed to have been authorised to be issued out of the Central Fund or of providing money for the repayment to the Central Fund of all or any sums issued thereout under the authority of this Act, or deemed by this Act to have been so issued under such authority, the Minister for Finance may borrow by means of terminable annuities extending over a period not exceeding twenty years.

(2) All moneys borrowed under this section shall be paid into the Exchequer.

(3) All terminable annuities created under this section shall be paid out of moneys provided by the Oireachtas for the service of the Post Office, and, if those moneys are insufficient, shall be charged on and payable out of the Central Fund or the growing produce thereof.

(4) References in this section to moneys issued out of the Central Fund shall be construed as referring also to moneys issued out of the Consolidated Fund of the Provisional Government of Ireland.