Central Fund Act, 1950

Central Fund Act, 1950 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.ie) Translations (Houses of the Oireachtas) Government Publications for Sale EU Law (EUR-Lex) FAQ Disclaimer Feedback Helpdesk Search Baile Reachtaíocht Achtanna an Oireachtais Ionstraimí Reachtúla Reachtaíocht Réamh-1922 Bunreacht Acmhainní Seachtracha Billí (Tithe an Oireachtais) Iris Oifigiúil Achtanna Athbhreithnithe (CAD) (An Coimisiún um Athchóiriú an Dlí) Liosta Rangaithe Reachtaíochta Aistriúcháin (achtanna.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 1950 Central Fund Act, 1950 Central Fund Act, 1950 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 8 of 1950. CENTRAL FUND ACT, 1950. ARRANGEMENT OF SECTIONS Section 1. Issue of £6,611,924 out of the Central Fund for the service of the year ending 31st March, 1950. 2. Issue of £26,710,660 out of the Central Fund for the service of the year ending 31st March, 1951. 3. Power of Minister for Finance to borrow up to £33,322,584. 4. American Grant Counterpart Special Account. 5. Short title. Number 8 of 1950. CENTRAL FUND ACT, 1950. 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 FIFTY AND ONE THOUSAND NINE HUNDRED AND FIFTY-ONE AND TO MAKE CERTAIN PROVISIONS IN RELATION TO THE AMERICAN GRANT COUNTERPART SPECIAL ACCOUNT. [31st March, 1950]. BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— Issue of £6,611,924 out of the Central Fund for the service of the year ending 31st March, 1950. 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 fifty the sum of Six Million Six Hundred and Eleven Thousand Nine Hundred and Twenty-four Pounds. Issue of £26,710,660 out of the Central Fund for the service of the year ending 31st March, 1951. 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 fifty-one, the sum of Twenty-six Million Seven Hundred and Ten Thousand Six Hundred and Sixty Pounds. Power of Minister for Finance to borrow up to £33,322,584. 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 Thirty-three Million Three Hundred and Twenty-two Thousand Five Hundred and Eighty-four 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. 4.—(1) In this section— American Grant Counterpart Special Account. the expression “the Agreement” means the Economic Co-operation Agreement between Ireland and the United States of America dated the 28th day of June, 1948; the expression “grant assistance” means the assistance on a grant basis referred to in the Agreement; the expression “the American Government” means the Government of the United States of America; the expression “the Special Account” means the American Grant Counterpart Special Account established by the Minister for Finance before the passing of this Act in the Central Bank of Ireland pursuant to Article IV of the Agreement. (2) The establishment of the Special Account is hereby confirmed. (3) There shall be paid into the Special Account the equivalent in Irish currency of any grant assistance furnished by the American Government. (4) There shall be paid out of the Special Account to the American Government the amounts required by the Agreement to be made available to that Government out of the Special Account. (5) There shall be paid out of the Special Account into the Exchequer the amounts required to defray expenditure on such purposes as may be agreed from time to time with the American Government. (6) An account of the Special Account shall be prepared for each financial year and shall be audited by the Comptroller and Auditor General and laid before each House of the Oireachtas. (7) For the purposes of subsections (3), (4) and (6) of this section, this Act shall be treated in relation to the Special Account as if it had been passed before the establishment thereof and transactions in connection with the Special Account which took place before the passing of this Act shall be dealt with accordingly. Short title. 5.—This Act may be cited as the Central Fund Act, 1950. 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