National Development Fund Act, 1954

National Development Fund Act, 1954 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 1954 National Development Fund Act, 1954 National Development Fund Act, 1954 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 7 of 1954. NATIONAL DEVELOPMENT FUND ACT, 1954. ARRANGEMENT OF SECTIONS Section 1. Definitions. 2. Establishment of the Fund. 3. Payments into the Fund. 4. Application of the Fund. 5. Restriction on aggregate of expenditure and commitments. 6. Investment of moneys of the Fund. 7. Winding up of the Fund. 8. Annual account of payments into and out of the Fund. 9. Short title. Number 7 of 1954. NATIONAL DEVELOPMENT FUND ACT, 1954. AN ACT TO MAKE PROVISION FOR A FUND TO BE KNOWN AS THE NATIONAL DEVELOPMENT FUND. [10th March, 1954.] BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:— Definitions. 1.—In this Act— “the Minister” means the Minister for Finance; “the Fund” means the National Development Fund established by section 2 of this Act. Establishment of the Fund. 2.—There is hereby established a fund which shall be known as the National Development Fund and shall be under the control and management of the Minister. Payments into the Fund. 3.—A sum not exceeding five million pounds shall be paid into the Fund, out of moneys provided by the Oireachtas— (a) in the financial year ending on the 31st day of March, 1954, and (b) in each of the three next following financial years. Application of the Fund. 4.—The Minister may apply the Fund for the purpose of financing projects which, in his opinion, are projects of development of a public character and are in the national interest. Restriction on aggregate of expenditure and commitments. 5.—The aggregate of— (a) the total expenditure for the time being from the Fund, and (b) any amount by which such total is less than the total cost as estimated by the Minister of all projects the financing of which from the Fund has been approved of by him, shall not exceed twenty million pounds. Investment of moneys of the Fund. 6.—Moneys of the Fund which are not required immediately for application in accordance with section 4 of this Act may be invested by the Minister from time to time, as he thinks fit, in any manner in which moneys of the Post Office Savings Bank may be invested, and any such investment may be realised at any time. Winding up of the Fund. 7.—On the expiry of the financial year ending on the 31st day of March, 1957, the Fund shall be wound up, and the balance then remaining in the Fund, together with the proceeds of realisation of any investments of the Fund, shall, in so far as not required for the discharge of any liability of the Fund existing on that day, be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister may direct. Annual account of payments into and out of the Fund. 8.—(1) The Minister shall, as respects every financial year during which the Fund is maintained, prepare an account of payments into and out of the Fund, and such account shall be submitted to the Comptroller and Auditor General for examination and report. (2) The Minister shall lay before each House of the Oireachtas a copy of every account prepared under this section and of every report of the Comptroller and Auditor General thereon. Short title. 9.—This Act may be cited as the National Development Fund Act, 1954. 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