|
|
Financial and other provisions.
|
3.—(1) The subsequent subsections of this section shall come into operation on the day on which the Convention enters into force for Ireland in accordance with the terms of Section (c) of Article 61 of the Convention.
|
|
| |
(2) The following payments, as and when they become appropriate to be made on behalf of the State, shall be made out of the Central Fund or the growing produce thereof:—
|
|
| |
(a) payments under Articles 6, 7 and 8 of the Convention in respect of subscription to the Agency; and
|
|
| |
(b) payments under Section (e) of Article 39 of the Convention.
|
|
| |
(3) The Minister may create and issue to the Agency, in such form as he thinks fit, such non-interest-bearing and non-negotiable notes or other obligations as are provided for in paragraph (i) of Article 7 of the Convention, and any payments in respect of any such notes or obligations so created and issued shall be made out of the Central Fund or the growing produce thereof.
|
|
| |
(4) Any moneys received by the State from the Agency shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which that Fund is available.
|
|
| |
(5) The Central Bank of Ireland shall act as a depository for the holdings of currency of the State and other assets of the Agency and may advance to the Minister for Finance any sum or sums required for payments under this section, subject to such security, rate of interest and other terms and conditions as are agreed between the Minister and the Bank.
|
|
| |
(6) The principal and interest of any advances made under subsection (5) of this section shall be charged on the Central Fund or the growing produce thereof.
|
