|
|
Power of the Minister to borrow.
|
3.—(1) In order to make the payments authorised by this Act, the Minister may borrow to an amount not exceeding ten million pounds.
|
|
| |
(2) For the purpose of borrowing under this section, the Minister may create and issue securities bearing such rate of interest and subject to such conditions as to repayment, redemption or otherwise as he thinks fit.
|
|
| |
(3) All moneys borrowed under this section shall be paid into the Exchequer.
|
|
| |
(4) The principal of and interest on all securities issued under this section and the expenses incurred in connection with the issue of such securities shall be charged on and payable out of the Central Fund or the growing produce thereof.
|
