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Provision of money for undertaking.
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11.—(1) The Minister for Finance may, subject to the limitation hereinafter imposed, advance out of the Central Fund or the growing produce thereof such sums as may be required by the Minister for Industry and Commerce for the purpose of the undertaking or the doing of anything which he is by this Act authorised to do or for the payment of any price, compensation or other moneys which shall by virtue of this Act become payable by him.
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(2) Advances under this section from the Central Fund or the growing produce thereof shall be made to a separate fund to be established for the purpose and all payments to be made out of the sums advanced under this section shall, subject to the sanction of the Minister for Finance, be met from such separate fund.
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(3) On or before the 1st day of October in every financial year an account of the separate fund to be established as aforesaid shall be rendered in respect of the previous financial year by the Minister for Industry and Commerce in such form as the Minister for Finance shall direct, and every such account shall be subject to audit by the Comptroller and Auditor-General and shall be laid before each House of the Oireachtas.
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(4) Interest shall be paid out of the said separate fund at such rates and times and in such manner as the Minister for Finance shall direct on all advances made under this section from the Central Fund or the growing produce thereof.
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(5) The total amount of the advances to be made under this section out of the Central Fund or the growing produce thereof shall not exceed the sum of five millions, two hundred and ten thousand pounds.
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(6) The Minister for Finance may, for the purpose of providing for the advance of sums out of the Central Fund under this section, or for the repayment to that Fund of all or any sums so advanced or for paying off securities issued under this section so far as such payment is not otherwise provided for, borrow by means of the issue of such securities as he thinks proper.
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(7) All moneys borrowed under this section shall be paid into the Exchequer.
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(8) The principal of and interest on all securities issued under this section shall be charged on and payable out of the Central Fund or the growing produce thereof.
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