Central Bank Act, 1989.
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General fund. |
23.—(1) Notwithstanding the repeal of section 63 of the Currency Act, 1927 , the Bank shall continue to keep the fund called the general fund to which it shall carry all receipts and out of which it shall draw all payments. | |
(2) The Minister may, after consultation with the Bank, make regulations providing for the determination periodically of the surplus income of the Bank and may by such regulations enable provisions to be made for reserves, depreciation, and other like matters before determination of the surplus income. | ||
(3) Any regulations made under section 63 (5) of the Currency Act, 1927 , shall, to the extent that they are still in force immediately before the coming into operation of this section, be deemed to have been made under this section. | ||
(4) The Bank shall pay its surplus income as and when determined under this section into the Exchequer in such manner as the Minister shall direct and may at any time pending such determination pay into the Exchequer such sums on account of surplus income as may be agreed upon by the Minister and the Bank. |