[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 27

Terminable Revenues Sinking Fund.

27.(1) There shall be charged in each financial year upon the Consolidated
Fund such sums, if any, as the Ministry may determine from time to time to be
set aside for the purpose of providing fixed revenues in perpetuity in lieu of
the varying terminable revenues which accrue to the Exchequer under sections
twenty-six and thirty-one of the Government of Ireland Act, 1920, in respect
of land or any interest in land situate in Northern Ireland.

(2) Any sums so determined by the Ministry shall be issued from the
Consolidated Fund to a fund called the Terminable Revenues Sinking Fund, and
shall be invested, accumulated, and applied as the Ministry may determine.

(3) In the determination of the sums to be set aside to the Terminable
Revenues Sinking Fund under sub-section (1) of this section there shall be
deducted from the varying terminable revenues referred to in that sub-section
such part of the expenses of the Treasury of the United Kingdom as
the Ministry may determine to have been paid under sub-section (2) of section
forty-seven of the Irish Land Act, 1903, and section seven of the
Irish Land Act, 1909, out of moneys provided by the Parliament of the United
Kingdom, and to have been deducted from the Northern Ireland share of reserved
taxes by virtue of paragraph (b) of sub-section (1) of section twenty-four of
the Government of Ireland Act, 1920.

[(4) There shall in each financial year be paid to the Exchequer from the
Terminable Revenues Sinking Fund any part of the income of that Fund which, in
the opinion of the Ministry, is not required under this section to be
accumulated or to be applied in lieu of the varying terminable revenues.]

© 1950 Crown Copyright

BAILII: Copyright Policy | Disclaimers | Privacy Policy | Feedback
URL: http://www.bailii.org/nie/legis/num_act/eafpai1950500/s27.html