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Disposal of moneys paid to, or contributions recovered by, local authorities under Principal Act.
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7.—Any moneys paid under section 19 of the Principal Act to, or any contribution recovered under section 21 of the Principal Act by, a local authority in respect of compensation paid or payable by the local authority under the Acts for damage or loss caused after the passing of this Act shall be paid into or disposed of for the benefit of the Exchequer in accordance with the directions of the Minister for the Environment given after consultation with the Minister for Finance.
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