Central Fund (Permanent Provisions) Act, 1965

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Power to borrow.

7.—(1) The Minister may borrow sums required for issues under this Act and for that purpose may create and issue securities bearing such rate of interest, and subject to such conditions as to repayment, redemption or any other matter, as he thinks fit.

(2) The principal and interest of securities issued under this section and the expenses incurred in connection with their issue shall be charged on the Central Fund or the growing produce thereof.

(3) Moneys borrowed under 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.