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Financial and other provisions.
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3.—(1) The subsequent subsections of this section shall come into operation on the day on which the Agreement, pursuant to Article 57 thereof, enters into force.
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(2) There shall be paid by the Minister out of the Central Fund, or the growing produce thereof, as subscription for shares in the Fund issued under Article 10, 11 or 12 of the Agreement, an amount not exceeding, or amounts not exceeding in the aggregate, £1,000,000.
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(3) The Minister may out of moneys provided by the Oireachtas—
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(a) make under Article 13 of the Agreement an initial contribution, of such amount as he shall think fit, to, and for use in, the account referred to in the Agreement as the “Second Account”,
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(b) having had regard to the review last made pursuant to and in accordance with the said Article 13, from time to time make contributions, of such amounts as he shall think fit, to, and for use in, the said account.
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(4) (a) The Minister may by order provide guarantees required to be provided by Article 14 of the Agreement by reason of the State's being a member of an international commodity organisation which is associated with the Fund.
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(b) Moneys required to be paid by the Minister to meet sums which may become payable by him on foot of a guarantee provided by an order under this subsection shall be advanced out of the Central Fund or the growing produce thereof.
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(c) Where the whole or any part of moneys advanced under this subsection has not been repaid to the Minister within a period of five years from the date of advance, the amount so remaining outstanding shall be repaid to the Central Fund out of moneys provided by the Oireachtas.
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(5) For the purposes of payments under subsection (2) of this section, the Minister may, in accordance with Article 11 (3) of the Agreement, create and issue to the Fund non-interest-bearing promissory notes of the State and any payments on behalf of the State in respect of such notes shall be made out of the Central Fund or the growing produce thereof.
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(6) Where an order under this section is proposed to be made, a draft of the order shall be laid before each House of the Oireachtas and the order shall not be made until a resolution approving of the draft has been passed by each such House.
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