Insurance (Miscellaneous Provisions) Act, 1985
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Provision of moneys for payments out of Central Fund. |
15.—(1) All moneys from time to time required by the Minister to meet sums which may become payable by him under section 14 of this Act shall be advanced to him by the Minister for Finance out of the Central Fund or the growing produce thereof. | |
(2) The Minister for Finance may, for the purposes of providing for advances out of the Central Fund under this section, borrow on the security of the Central Fund or the growing produce thereof any sums required for the purpose and, for the purpose of such borrowing, he may create and issue securities bearing interest at such rate and subject to such conditions as to repayment, redemption or any other matter as he thinks fit, and shall pay all sums so borrowed into the Exchequer. | ||
(3) The principal of and interest on all securities issued under this section and the expenses incurred in connection with the issue of the securities shall be charged on and payable out of the Central Fund or the growing produce thereof. |