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Winding up of legal tender note fund and transfer of assets to general fund.
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22.—(1) As soon as possible after the date on which this section comes into operation and in any event with effect from a date not later than one month thereafter, the legal tender note fund shall be wound up by the Bank and the assets of that fund shall be transferred to the general fund.
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(2) The legal tender notes on issue at any time after the winding up of the legal tender note fund shall be a liability on the general fund.
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(3) (a) References to the legal tender note fund in any statute (other than this Act) or instrument made under such statute and in force at the date of the winding up of the legal tender note fund shall, with effect from that date, be construed as references to the general fund unless the context otherwise requires.
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(b) The Minister may by regulations make, in respect of any statute or instrument to which paragraph (a) applies and relating to any matter dealt with by this section, any adaptations or modifications which appear to him to be necessary to enable such statute or instrument to have effect in conformity with this section.
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(4) As soon as possible after the winding up of the legal tender note fund, the Bank shall cause a notice to that effect to be published in the Iris Oifigiúil which shall state therein the date of the winding up.
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