Finance Act, 1988

Amendment of section 54 of Finance Act, 1970.

68.Section 54 of the Finance Act, 1970 , is hereby amended by—

(a) the insertion in subsection (5) (inserted by section 49 of the Finance Act, 1978 ) after “Post Office Savings Bank Fund” of “or from any other Departmental Fund under his control”, and the said subsection, as so amended, is set out in the Table to this section, and

(b) the insertion after subsection (7) (inserted by the Finance Act, 1983 ) of the following subsection:

“(8) The Minister may, for the purposes of the better management of the indebtedness incurred by him under this section, do such things and take such steps (including the employment of specialists and specialised services) as he considers necessary or expedient for those purposes, and the expenses and other costs incurred by the Minister for Finance under this subsection or otherwise in relation to such management shall be charged on the Central Fund or the growing produce thereof.”.


(5) Securities created and issued by the Minister for Finance either under this section or under any other provision of an Act of the Oireachtas may, whenever and so often as he thinks fit, be purchased by him from the Post Office Savings Bank Fund or from any other Departmental Fund under his control and cancelled.