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Bretton Woods Agreements (Amendment) Act, 1999

Provision for certain payments.

6.—(1) The Minister may authorise the Central Bank to make a payment on behalf of the Government of £4,000,000 in respect of the HIPC Trust and any such payment shall be funded by the transfer of the equivalent of £4,000,000 in special drawing rights held by the State from the SCA-2 Account to the HIPC Trust.

(2) Subject to subsection (3), the Minister may authorise the Central Bank to make such further payments as the Government decides in respect of the HIPC Trust.

(3) The aggregate amount of sums that the Minister may authorise in respect of the HIPC Trust for the purposes of subsections (1) and (2) shall not exceed £10,000,000.