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Finance (No. 2) Act, 1981

PART IV

Miscellaneous

Application of section 54 of Finance Act, 1970.

18.—(1) Section 54 of the Finance Act, 1970 , shall apply, and be deemed always to have applied, as if—

(a) the references therein to securities included references to agreements that are entered into by the Minister for Finance and provide for the making of loans to the Minister for Finance for the purpose of raising money for the Exchequer and to agreements that are subsidiary or ancillary to such agreements, and

(b) the references therein to expenses included—

(i) references to expenses incurred in connection with the investigation of proposals for, the negotiation of the terms of, and the entry into, agreements to which the Minister for Finance is a party and under which—

(I) moneys accrue to the Exchequer, or

(II) expenditure that, but for such agreements, would fall to be met by payments out of the Central Fund (whether of moneys provided by the Oireachtas or otherwise) is met by payments from another source,

(ii) references to expenses incurred with the consent of the Minister for Finance in connection with the investigation of proposals for, the negotiation of the terms of, and the entry into, agreements to which a Minister of the Government (other than the Minister for Finance) or the Commissioners of Public Works is or are a party or parties and under which—

(I) moneys accrue to the Exchequer, or

(II) expenditure that, but for such agreements, would fall to be met by payments out of the Central Fund (whether of moneys provided by the Oireachtas or otherwise) is met by payments from another source, and

(iii) references to expenses incurred in connection with the investigation of proposals for, the negotiation of the terms of, and the entry into agreements for the issue of securities.

(2) References in subsection (1) (b) of this section to the investigation of proposals for agreements and to the negotiation of the terms of agreements shall be deemed to include references to such investigations and negotiations in cases where agreements are not entered into.