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Provision of moneys to Bord na Móna to enable the repayment by it of debts.
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25.—(1) In this section “the Board” means Bord na Móna.
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(2) (a) The Minister for Finance shall cause to be kept in the joint names of himself or herself and the Minister an account with the Paymaster General for the purposes of this section and such an account is referred to in this section as “the special account”.
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(b) The special account shall be operated subject to such terms and conditions as the Minister for Finance, after consultation with the Minister, may determine.
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(3) The Minister for Finance may from time to time pay out of the special account such sums of money to the Board as he or she considers appropriate for the purpose of enabling the Board to—
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(a) repay the principal of any money borrowed by it,
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(b) pay any instalments or other amounts of money owed by it under a contract entered into by it,
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(c) pay interest on any money, instalment or amount referred to in paragraph (a) or (b), and
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(d) pay any commission or incidental expenses arising in connection with the borrowing by it of any money or the entry by it into any contract,
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and any sums of money paid to the Board under this section shall be used by it for the said purposes and for no other purpose.
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(4) (a) Any moneys paid to the Board under subsection (3) shall not be required to be repaid by it to the Minister for Finance.
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(b) Notwithstanding the provisions of any enactment, the receipt by the Board of any moneys under subsection (3) shall not give rise to any charge to, or liability on the part of the Board for, tax of whatsoever kind.
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(5) (a) Whenever and so often as the Minister for Finance gives a direction in that behalf there shall be paid out of the Central Fund or the growing produce thereof into the special account such sums of money as are specified in the direction for the purpose of enabling the payment under subsection (3), at any subsequent date, of moneys from that account to the Board.
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(b) Any moneys standing to the credit of the special account may, where the Minister for Finance gives a direction in that behalf, be paid into, or, in such manner as is specified in the direction, disposed of for the benefit of, the Exchequer.
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(6) The total of the sums of money that may be paid out of the special account to the Board under this section shall not exceed £100 million.
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