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EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT 29

Power to provide against loss of capital.

29.(1) In the exercise of its powers under this Act with respect to the
investment, accumulation, and application of any fund the Ministry may from
time to time make provision, whether out of the income of that fund or out of
any profit resulting from the sale or redemption of any investment made in
connection therewith or in such other manner and to such an extent as it may
think fit, for any loss of capital which has occurred or which in the opinion
of the Ministry is likely to occur on the realisation or redemption of any
investments held by it for the purposes of any such fund and any provision so
made shall be shown in the accounts of the fund to which it relates.

(2) Any enactment (whether passed before or after this Act, and including
this Act) which authorises sums to be charged on and issued out of the
Consolidated Fund to any such fund as aforesaid shall have effect so as to
authorise the charge on and issue out of the said Consolidated Fund of such
amounts as the Ministry may determine to be necessary for the purpose of
making such provision.


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© 1950 Crown Copyright

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