Finance (No. 2) Act, 1970

Payment of interest on certain redemption moneys.

5.—(1) The Minister for Finance may, with respect to the redemption moneys to which this section applies, pay interest thereon for the period beginning on the 1st day of July, 1970, and ending on the 30th day of November, 1970, at the rate of eight per cent. per annum and the payments shall be made to the persons who were the registered holders of the relevant bonds on the 1st day of May, 1970.

(2) The redemption moneys to which this section applies are the moneys payable on redemption of the land bonds which were drawn for redemption at the draw for redemption of land bonds which began on the 27th day of October, 1970.

(3) The moneys required for the payment of interest under this section shall be paid out of the Central Fund or the growing produce thereof.