Central Fund Act, 1940

Summary

The Central Fund Act, 1940 (No. 5 of 1940), enacted on 21 March 1940, authorises the issue of specified sums out of the Central Fund for the public service of the financial years ending 31 March 1940 and 31 March 1941, and empowers the Minister for Finance to borrow to fund them.

What the law regulates

The issue of money out of the Central Fund to make good supply granted for two financial years.
The Minister for Finance's power to borrow and issue securities.
The charging of the securities and the crediting of borrowed money to the Exchequer.

Who it affects

The Minister for Finance, who issues and borrows the money.
The Bank of Ireland, which may advance sums to the Minister.
The Exchequer and Central Fund.

Key points

Section 1: The Minister for Finance may issue out of the Central Fund the sum of 1,149,459 pounds for the service of the year ending 31 March 1940.
Section 2: The Minister for Finance may issue out of the Central Fund the sum of 10,630,000 pounds for the service of the year ending 31 March 1941.
Section 3(1): The Minister for Finance may borrow, and the Bank of Ireland may advance, sums not exceeding in total 11,779,459 pounds, and may create and issue securities on such interest and repayment conditions as he thinks fit.
Section 3(2): The principal, interest and issue expenses of the securities are charged on the Central Fund.
Section 3(3): Money raised is credited to the Exchequer and forms part of the Central Fund.
Section 4: The Act may be cited as the Central Fund Act, 1940.

Legal text

Central Fund Act, 1940 Skip to content Disclaimer Feedback Helpdesk Gaeilge Léim go dtí an t-ábhar Séanadh Aiseolas Deasc chabhrach English Gaeilge English Produced by the Office of the Attorney General Táirgthe ag Oifig an Ard-Aighne Home Legislation Acts of the Oireachtas Statutory Instruments Pre-1922 Legislation Constitution External Resources Bills (Houses of the Oireachtas) Iris Oifigiúil / Official Gazette Revised Acts (LRC) Classified List of Legislation (LRC) Translations (acts.

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ie)Aistriúcháin (Tithe an Oireachtais) Foilseacháin Rialtais ar Díol Dlí AE (EUR-Lex) CCanna (Ceisteanna Coitianta) Séanadh Aiseolas Deasc chabhrach Cuardach TitleTeideal Year(
s)or rangeBliain nó blianta nó raon TypeCineál All Legislation Acts Statutory Instruments Advanced SearchCuardach Casta HomeBaile ActsAchtanna 1940 Central Fund Act, 1940 Central Fund Act, 1940 Permanent Page URL View by SectionAmharc de réir Ailt View Full ActAmharc ar an Acht Iomlán Bill History Stair Bille Commencement, Amendments, SIs made under the Act Tosach Feidhme, Leasuithe, IRí arna ndéanamh faoin Acht Print Full ActPriontáil an tAcht Iomlán Number 5 of 1940. CENTRAL FUND ACT, 1940. ARRANGEMENT OF SECTIONS Section 1. Issue of £1,149,459 out of the Central Fund for the service of the year ending 31st March, 1940. 2. Issue of £10,630,000 out of the Central Fund for the service of the year ending 31st March, 1941. 3. Power of Minister for Finance to borrow up to £11,779,459. 4. Short title. Number 5 of 1940. CENTRAL FUND ACT, 1940. AN ACT TO APPLY CERTAIN SUMS OUT OF THE CENTRAL FUND TO THE SERVICE OF THE YEARS ENDING ON THE THIRTY-FIRST DAY OF MARCH ONE THOUSAND NINE HUNDRED AND FORTY AND ONE THOUSAND NINE HUNDRED AND FORTY-ONE. [21st March, 1940.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— Issue of £1,149,459 out of the Central Fund for the service of the year ending 31st March, 1940. 1.—The Minister for Finance may issue out of the Central Fund and apply towards making good the supply granted for the service of the year ending on the thirty-first day of March one thousand nine hundred and forty the sum of One Million One Hundred and Forty-nine Thousand Four Hundred and Fifty-nine Pounds. Issue of £10,630,000 out of the Central Fund for the service of the year ending 31st March, 1941. 2.—The Minister for Finance may issue out of the Central Fund and apply towards making good the supply granted for the service of the year ending on the thirty-first day of March one thousand nine hundred and forty-one the sum of Ten Million Six Hundred and Thirty Thousand Pounds. Power of Minister for Finance to borrow up to £11,779,459. 3.—

(1)The Minister for Finance may borrow from any person and the Bank of Ireland may advance to the Minister for Finance any sum or sums not exceeding in the whole Eleven Million Seven Hundred and Seventy-nine Thousand Four Hundred and Fifty-nine Pounds and for the purpose of such borrowing the Minister for Finance may create and issue any securities bearing such rate of interest, and subject to such conditions as to repayment, redemption or otherwise as he thinks fit.

(2)The principal and interest of any securities issued under this Act and the expenses incurred in connection with the issue of such securities shall be charged on the Central Fund or the growing produce thereof.

(3)Any money raised by securities issued under this Act 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 such Fund is available. Short title. 4.—This Act may be cited as the Central Fund Act, 1940. Privacy Statement Accessibility European Legislation Identifier (PDF) Open Data License Ráiteas Príobháideachais Inrochtaineacht Aitheantóir Eorpach Reachtaíochta (ELI) Ceadúnas Sonraí Oscailte Liosta Fianán © Government of Ireland. Oireachtas Copyright Material is reproduced with the permission of the Houses of the Oireachtas © Rialtas na hÉireann. Atáirgtear ábhar faoi Chóipcheart le cead ó Thithe an Oireachtais

AI explanation based on the official legal text. Indicative, not a substitute for legal advice.