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PIG PRODUCTION DEVELOPMENT ACT (NORTHERN IRELAND) 1964 - SECT 9

Investment of surplus funds.

9.(1) The Ministry may, if so recommended by the Committee, invest on their
behalf any part of the Development Fund which is not for the time being
required for any other purpose in any securities in which trustees are
entitled by law and in the absence of a direction contained in their trust
instrument to invest trust moneys.

(2) The Ministry, if so authorised by the Committee, may from time to time
vary or transpose all moneys invested under this section into other
investments authorised under this section, and may at any time, for the
purpose of such variation or transposition, or in order to utilise for the
purposes of this Act the invested portion of the Development Fund, sell and
convert into money all or any investments made under this section.

(3) All dividends and interest received on investments made under this section
shall be paid into the Development Fund.


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© 1964 Crown Copyright

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