Finance Act, 1983

Amendment of section 54 of Finance Act, 1970.

118.Section 54 of the Finance Act, 1970 , is hereby amended by the insertion after subsection (6) (inserted by the Finance Act, 1978 ) of the following subsection:

“(7) The Minister for Finance may engage in such transactions of a normal banking nature, and may, for the purposes of those transactions, issue such funds from the Exchequer, as he considers appropriate for the purposes of subsection (1) of this section and for the purposes of the better management of the indebtedness incurred by the Minister for Finance under the said subsection (1), and the expenses and other costs incurred by the Minister for Finance in connection with or arising out of such transactions shall be charged on the Central Fund or the growing produce thereof.”.