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National debt commissioners may keep a balance in the Bank of Ireland to meet drafts drawn on them by trustees of savings banks in Ireland.
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58. [Recital.] It shall and may be lawful for the said commissioners, if they shall so think fit, and they are hereby authorized and empowered, to pay into the Bank of England, from time to time, any sum or sums of money to be placed to their credit in account with the Bank of Ireland, on account of the fund for the banks for savings, under such regulations as shall or may be agreed upon from time to time between the said commissioners and the Bank of Ireland; and all sums of money so placed to the said commissioners credit as aforesaid shall be carried to the account of the said commissioners, by the cashiers of the Bank of Ireland, standing in the books of the said bank under the title of “The Fund for the Banks for Savings,” and shall be subject and shall be applied to the several purposes herein-before mentioned, as if every such sum and sums of money had been originally paid into the Bank of Ireland to the said account under the provisions of this Act.
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