Great Northern Railway Act, 1953

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Advance of moneys out of Central Fund.

48.—(1) The money required by the Minister to meet the payments required to be made by him under subsection (1) of section 46 shall be advanced out of the Central Fund or the growing produce thereof.

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

(3) The principal of or any 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.