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Repayable advances from Central Fund
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3. (1) The Minister for Finance may, following a request from the Minister for Public Expenditure and Reform, and for the purpose of maintaining a sufficient amount of moneys in the Paymaster General’s Supply Account, having regard to the sums payable from that Account, put in place funding arrangements to—
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(a) facilitate electronic funds transfers in respect of certain payments due on 3 January 2017, and
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(b) facilitate certain payments, under the Social Welfare Acts, made on an agency basis by An Post payable between 3 January 2017 and 6 January 2017.
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(2) Amounts required by the Minister for Finance under subsection (1), which in aggregate shall not exceed two hundred million euro, shall be advanced out of the Central Fund or the growing produce thereof.
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(3) Any sums so advanced shall be repaid from the Paymaster General’s Supply Account to the Central Fund in January 2017.
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