Finance Act, 1999

Discharge by Minister for Finance of liability in respect of certain borrowings by Minister for Agriculture and Food.

213.—(1) In this section—

“the Minister” means the Minister for Finance;

“the relevant Minister” means the Minister for Agriculture and Food.

(2) The Minister may, after consultation with the relevant Minister, enter into an agreement with the person referred to hereafter in this subsection for the payment by the Minister to that person in such money (including money in a currency other than the currency of the State) and on such terms and conditions as to the manner, time of payment, release of security (if any), discharge of liability of the relevant Minister or otherwise as the Minister considers appropriate and are specified in the agreement, of amounts in respect of the principal of such moneys as stand borrowed from a person by the relevant Minister and not repaid to that person by him or her, together with an amount equal to the amount of the interest payable by the relevant Minister on such principal and any other sum that is or may become payable by the relevant Minister to the said person in respect of such borrowings.

(3) If an agreement referred to in subsection (2) is entered into, the Minister may pay to the person concerned such amounts as are specified in subsection (2) on the terms and conditions specified in the agreement.

(4) Neither the entering into an agreement by the Minister under subsection (2) nor the making by him or her of any payment under subsection (3) shall impose any liability on the relevant Minister to the Minister in respect of the agreement or payment.

(5) All moneys required by the Minister to meet amounts payable by him or her under or by virtue of this section shall be advanced out of the Central Fund or the growing produce thereof.

(6) The National Treasury Management Agency Act, 1990 , is hereby amended in the First Schedule by—

(a) the deletion in paragraph (k) of “and”, and

(b) the addition of the following paragraph after paragraph (l):


(m) section 213 of the Finance Act, 1999.”.