Unemployment Insurance Act, 1923

Advances by the Minister for Finance.

8.—(1) The Minister for Finance may, out of the Central Fund or the growing produce thereof, advance any sums required for the purpose of discharging the liabilities of the Unemployment Fund under the Unemployment Insurance Acts, 1920 to 1922, as amended by this Act, and for the purpose of providing the sums to be so advanced the Minister for Finance may borrow money in such manner as he may think proper.

(2) Any sums advanced under the foregoing sub-section, together with interest thereon (if any) at such rate as may be fixed by the Minister for Finance, shall be charged on and be re-payable out of the Unemployment Fund.

(3) The principal and interest of any securities issued by the Minister for Finance for the purpose of borrowing under this section and the expenses incurred in connection with the issue of such securities shall be charged on the Central Fund or the growing produce thereof.