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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 is signed on behalf of the Government.
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(2) The following payments, as and when they become appropriate to be made on behalf of the Government, shall be made out of the Central Fund or the growing produce thereof:
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(a) payments in respect of subscription to the Corporation,
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(b) payments under subparagraph (iii) of paragraph (c) of Section 4 of Article V of the Agreement.
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(3) The Minister for Finance may borrow from any person, and the Bank of Ireland may advance to him, any sum or sums required for payments under this section and, for the purpose of such borrowing, he may create and issue any securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as he thinks fit.
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(4) The principal and interest of any securities issued under subsection (3) of this section and the expenses incurred in connection with their issue shall be charged on the Central Fund or the growing produce thereof.
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(5) Any moneys received by the Government from the Corporation or raised by securities under subsection (3) of this section shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which that Fund is available.
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(6) The Central Bank of Ireland shall act as a depository for the holdings of currency of the State and other assets of the Corporation and may advance to the Minister for Finance any sum or sums required for payments under this section.
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(7) The provisions of Sections 2, 3, 4, 5, 6, 7, 8, 9 and 11 of Article VI of the Agreement shall have the force of law in the State, subject to the proviso that nothing in the said Section 9 shall be construed—
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(i) as entitling the Corporation to import goods, free of customs duty, without any restriction on their subsequent sale in the country to which they were imported,
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(ii) as conferring on the Corporation any exemption from duties or taxes which form part of the price of goods sold, or
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(iii) as conferring on the Corporation any exemption from duties or taxes which are in fact no more than charges for services rendered.
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