National Stud Act, 1945

• Permanent Page URL

Advance of moneys out of Central Fund.

21.—(1) All moneys from time to time required by the Minister for Finance to meet payments required to be made by him in respect of any shares subscribed for by him under this Act shall be advanced out of the Central Fund or the growing produce thereof.

(2) For the purpose of providing money for the sums advanced out of the Central Fund under this section, the Minister for Finance may borrow from any person any sum or sums, and for the purpose of such borrowing the said Minister may create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as he shall think fit, and shall pay the moneys so borrowed into the Exchequer.

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