Agriculture (An Foras Taluntais) Act, 1958

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Endowment Fund.

11.—(1) The Minister for Finance shall, when requested by the Council to do so, pay to the Institute, out of the monies held in the Counterpart Special Account, a sum of one million pounds and that sum, when paid to the Institute, shall be known as the Endowment Fund of An Foras Talúntais and is in this Act referred to as the Endowment Fund.

(2) The Endowment Fund shall be kept invested by the Institute in such securities as may be approved from time to time by the Minister for Finance.

(3) The interest on the Endowment Fund shall accrue to the Institute as income.