EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950

	[Home] [Databases] [World Law] [Search] [Feedback]
	Northern Irish Legislation
You are here: BAILII >> Databases >> Northern Irish Legislation >> EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950

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

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT 21

Reserve Fund.

21.(1) There shall be established a Reserve Fund, which shall be invested,
accumulated, and applied by the Ministry

Para.(a) rep. by 1978 NI 11 art.14 sch.3 Pt.I

(b)for the purpose of providing, if the Ministry shall so determine, by the
transfer of sums from the Reserve Fund to the Exchequer as part of the public
income for any financial year, in whole or in part for the issue out of the
Consolidated Fund of sums which under or by virtue of any enactment, are
issued to any sinking funds as part of the public expenditure for that year,
not being issues for capital purposes as defined by section five of this Act;

(c)as the Ministry may from time to time determine to provide for any capital
purposes of the Exchequer by the transfer of sums from the Reserve Fund to the
Exchequer.

(2) There shall be charged on the Consolidated Fund and issued thereout to the
Reserve Fund

(a)in each financial year, as part of the public expenditure for that year,
such sums, if any, not exceeding two hundred and fifty thousand pounds in any
one year, as the Ministry may determine;

(b)as issues for capital purposes of the Exchequer

Sub-para.(i) rep. by 1978 NI 11 art.14 sch.3 Pt.I

(ii)in each financial year the declared surplus, if any, for the preceding
financial year as provided by paragraph (a) of section three of this Act;

<(iii)any other capital receipts in the Exchequer which, by virtue of any enactment, may so be issued;


<(iv)to such extent as the Ministry may determine, any surplus of capital receipts in the Exchequer.


Subs.(3) rep. by 1978 NI 11 art.14 sch.3 Pt.I

(4) The accounts of the Reserve Fund shall show at the end of each financial
year the amounts comprised in the Fund which represent, respectively

Para.(a) rep. by 1978 NI 11 art.14 sch.3 Pt.I

(b)any specific reserve created by virtue of sub-section (2) of section seven
of this Act; and

(c)the balance of the Fund which remains available at that date for the
repayment of the public debt and the general purposes of the Fund.

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

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/eafpai1950500/s21.html

Northern Irish Legislation

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT 21