Agricultural Credit Act, 1929

Charge of moneys on Central Fund.

12.—(1) All moneys required to meet—

(a) payments required to be made by the Minister to the Corporation in respect of shares of the Corporation subscribed for by him under this Act, or

(b) sums required by section 6 of the Principal Act as applied by this Act to be provided and paid by the Minister to the liquidator in the winding-up of the Corporation, or

(c) sums required by this Act to be paid by the Minister to the Corporation for or towards the payment of dividends on shares of the Corporation,

shall be charged on and paid out of the Central Fund or the growing produce thereof.

(2) The Minister may, for the purpose of providing for the payment of sums charged on the Central Fund under this section, or for the repayment to that Fund of all or any part of the sums so advanced, or for paying off any securities issued under this section so far as such payment is not otherwise provided for, borrow money by means of the issue of such securities as he thinks proper, and all sums so borrowed shall be paid into the Exchequer.

(3) The principal of and interest on all securities issued under this section shall be charged on and payable out of the Central Fund or the growing produce thereof.