Finance Act 2015

Amendment of section 54 of Finance Act 1970

87. Section 54 of the Finance Act 1970 is amended by substituting the following for subsection (5):

“(5) The Minister for Finance may purchase securities created or issued by him either under this section or under any other provision of an Act of the Oireachtas whenever and so often as he thinks fit and in any manner, whether in the open market or otherwise, and any such securities so purchased shall be cancelled.

(5A) The purchase price and the expenses and other costs paid or incurred by the Minister for Finance under subsection (5) of this section shall be charged on the Central Fund or the growing produce thereof.”.