Constitution (Consequential Provisions) Act, 1937

Consequential provisions in respect of the Central Fund.

7.—(1) All moneys, investments, securities, and other assets which, immediately before the coming into operation of the Constitution, constituted and formed part of or were included in the Central Fund of Saorstát Eireann shall, immediately upon the coming into operation of the Constitution, become and be included in and assets of the Central Fund of Ireland.

(2) All moneys owing to the Central Fund of Saorstát Eireann immediately before the coming into operation of the Constitution, whether then due and payable or to become due and payable (whether certainly or contingently) at a future time, shall, immediately upon the coming into operation of the Constitution, become and be owing to the Central Fund of Ireland and shall be payable to and recoverable for that Fund accordingly either (as the case may require) immediately or as and when they respectively fall due.

(3) All moneys owing to any Minister or governmental authority for the benefit of or for or in any way on behalf of the Central Fund of Saorstát Eireann immediately before the coming into operation of the Constitution, whether then due and payable or to become due and payable (whether certainly or contingently) at a future time, shall, immediately upon the coming into operation of the Constitution, become and be owing to the corresponding Minister or governmental authority functioning under or by virtue of the Constitution and shall be payable and recoverable, either (as the case may require) immediately or as and when they respectively fall due, for the benefit of or for or on behalf of the Central Fund of Ireland to and by the like or corresponding persons and in the like manner as before the coming into operation of the Constitution.

(4) All debts, liabilities, and responsibilities of and all charges on the Central Fund of Saorstát Eireann subsisting immediately before the coming into operation of the Constitution, whether then due and payable or to become due and payable (whether certainly or contingently) at a future time, shall, immediately upon the coming into operation of the Constitution, become and be (as the case may be) debts, liabilities, or responsibilities of or charges on the Central Fund of Ireland and shall be paid or discharged out of that Fund accordingly either (as the case may require) immediately or as and when they respectively fall due.