Alginate Industries (Ireland) Limited (Acquisition of Shares) Act, 1949

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Advances out of Central Fund.

7.—(1) The money from time to time required by the Minister to pay for shares of the Company acquired by him shall be advanced out of the Central Fund or the growing produce thereof.

(2) For the purpose of providing money for the sums advanced under this section the Minister for Finance may borrow from any person any sum or sums, and for the purpose of such borrowing the Minister for Finance may create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as he thinks fit, and shall pay the money so borrowed into the Exchequer.

(3) The principal of and interest on any securities issued by the Minister for Finance under this section and the expenses incurred in connection with the issue of such securities shall be charged on and payable out of the Central Fund or the growing produce thereof.