Public Hospitals (Amendment) Act, 1939

Calculation of amount of capital of Reserve Fund.

6.—For the purpose of estimating for any of the purposes of this Act the amount of the capital of the Reserve Fund on any day, the securities in which the Reserve Fund is invested on that day shall be valued in accordance with the following rules, that is to say:—

(a) every such security in respect of which there is a Stock Exchange or market quotation in Dublin shall be valued at that quotation on the said day, and

(b) every other such security shall be valued at its nominal value or at the price paid for it by the Board, whichever is the lesser.