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Electricity (Supply) (Amendment) Act, 1954

Underwriting by the Minister for Finance of issue of stock.

8.—(1) The Minister for Finance may, subject to such conditions as he may think fit, agree with the Board that, if any stock of the Board about to be offered at any time for subscription is not within a specific time taken up by the public, he will take up and pay for such stock or some specified proportion thereof.

(2) All moneys from time to time required to meet payments required to be made by the Minister for Finance to the Board in respect of any stock taken up by him under this Act shall be charged on and paid out of the Central Fund or the growing produce thereof.