BAILII [Home] [Databases] [World Law] [Search] [Feedback]

Northern Irish Legislation

You are here:  BAILII >> Databases >> Northern Irish Legislation >> EXCHEQUER AND AUDIT DEPARTMENTS ACT 1866

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

EXCHEQUER AND AUDIT DEPARTMENTS ACT 1866 - SECT 11 

Moneys to form one fund in the books of the Banks of England and Ireland, applicable to Exchequer issues.

11. All moneys paid into the Bank of England and the Bank of Ireland on
account of the Exchequer shall be considered by the Governor and Company of
the said Banks respectively as forming one general fund in their books; and
all orders directed by the Treasury to the said Banks for issues out of
credits to be granted by the Comptroller and Auditor General, as herein-after
provided for the public service, shall be satisfied out of such general fund;
and with a view to economize the public balances, the Treasury shall restrict
the sums to be issued or transferred from time to time to the credit of
accounts of principal accountants at the said Banks, as herein-after provided,
to such total sums as they may consider necessary for conducting the current
payments for the public service intrusted to such principal accountants; and
the said principal accountants may consider the sums so transferred to their
accounts as constituting part of their general drawing balance, applicable to
the payment of all the services for which they are accountable; but such sums
shall be carried in the books of such accountants to the credit of the
respective services for which the same may be issued, as specified in such
orders: Provided always, that this enactment shall not be construed to empower
the Treasury or any authority to direct the payment, by any such principal
accountant, of expenditure not sanctioned by any Act whereby services are or
may be charged on the Consolidated Fund, or by a vote of the House of Commons,
or by an Act for the appropriation of the supplies annually granted by
Parliament.

S.12 rep. by 1954 c.44 s.35(9) sch.6

[Index] [Table] [Search] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

© 1866 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/eaada1866308/s11.html