Number 29 of 1926.
ROAD FUND (ADVANCES) ACT, 1926.
ARRANGEMENT OF SECTIONS
Section | |
Number 29 of 1926.
ROAD FUND (ADVANCES) ACT, 1926.
Advances may be made from Central Fund to Road Fund.
1.—(1) The Minister for Finance may, subject to the limitation hereinafter imposed, advance out of the Central Fund or the growing produce thereof to the Road Fund such sums as may be from time to time required for the purpose of increasing the Road Fund to the extent necessary to enable the Road Fund to meet all sums which are now or may at any time be charged thereon and payable thereout.
(2) The total amount of the sums advanced to the Road Fund under this section shall not exceed the sum of two million pounds.
(3) All sums advanced under this section together with interest thereon at such rate as shall be fixed by the Minister for Finance shall be charged on the Road Fund and shall be payable thereout in such manner as the Minister for Finance shall direct.
Minister for Finance may borrow for purposes of this Act.
2.—(1) The Minister for Finance may, for the purpose of providing for the issue of sums out of the Central Fund under the foregoing section, or for the re-payment to that Fund of all or any part of the sums so issued, or for paying off any securities issued under this section so far as such payment is not otherwise provided for, borrow money by means of the issue of such securities as he thinks proper, and all sums so borrowed shall be paid into the Exchequer.
(2) The principal of and interest on all securities issued under this section shall be charged on and payable out of the Central Fund or the growing produce thereof.
Short title.
3.—This Act may be cited as the Road Fund (Advances) Act, 1926.