Electricity (Supply) (Amendment) (No. 2) Act, 1934

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Payment of interest on advances from the Central Fund.

13.—(1) The Board shall pay to the Minister for Finance on every sum advanced to the Board out of the Central Fund under this Act interest from the date of the advance of such sum until the same is repaid at such rate as shall be appointed by the Minister for Finance and such interest shall be so paid by equal half-yearly payments on such days in every year as the Minister for Finance shall from time to time appoint.

(2) If the Board fails to pay to the Minister for Finance any interest payable by it under this section at the time appointed in that behalf under this section, the Board shall pay to the said Minister interest at the rate appointed by the said Minister on the interest so unpaid from the time appointed as aforesaid until the same is actually paid.

(3) All interest paid to the Minister for Finance by the Board under this section shall be paid into the Exchequer in such manner as the said Minister shall from time to time direct.

(4) The Minister for Finance may from time to time vary the rate at which interest payable under this section is to be paid.