No. 12/1924:

THE ROAD FUND ACCOUNTS ORDER, 1924.

THE ROAD FUND ACCOUNTS ORDER, 1924.

REGULATIONS DATED THE 7th DAY OF NOVEMBER, 1923, MADE BY THE MINISTER FOR FINANCE UNDER SECTION 3(1) OF THE ROADS ACT, 1920, AND THE ADAPTATION OF ENACTMENTS ACT, 1922 .

The Minister for Finance in pursuance of the powers conferred on him by Section 3(1) of the Act 10 and 11 George V. c. 72 as adapted by Section 11 of the Adaptation of Enactments Act, 1922 , and without prejudice to any further exercise of the said powers, hereby makes the following regulations :—

1. A Public Account entitled the " Road Fund Account " shall be opened in the books of such bank as may from time to time be selected by the Minister for Finance, and a drawing account entitled the " Roads Deposit Account " shall be opened in the books of the Paymaster General. The latter account shall be utilised for disbursements only, and shall be replenished with drafts from the Road Fund Account as may be necessary to meet the current disbursements of the Fund which shall be made from the Roads Deposit Account.

2. The said accounts shall be operated on by the Ministry of Local Government, and the officers authorised to direct payments thereout shall be appointed by the Minister for Local Government with the approval of the Minister for Finance, the names of such officers being communicated to the bank concerned or the Paymaster General as the case may be.

3. (1) The amounts due to the Road Fund under Section 2(3) of the Roads Act, 1920, shall be paid into the Road Fund Account by such instalments and at such intervals as may from time to time be decided by the Minister for Finance.

(2) There shall also be paid into the Road Fund Account as they accrue any sums received by way of repayment of or interest on advances made from the Road Fund together with any other receipts arising out of Services administered by the Minister for Local Government in virtue of Part II. of the Development and Road Improvement Fund Act, 1909 and the Roads Act, 1920.

(3) All sums borrowed under the provisions of Section 13(1) of the Development and Road Improvement Fund Act, 1909, as amended by the Roads Act, 1920, shall be paid into the Road Fund Account.

4. If at any time it shall appear to the Minister for Local Government that the moneys standing to the credit of the Road Fund are in excess of probable requirements, such portion of the balance as may be determined by him may be temporarily invested in securities approved by the Minister for Finance, and the investments so made shall be held in the names of the Secretary to the Ministry for Local Government and the Secretary to the Ministry for Finance. Any interest received from such investments shall be carried to the credit of the Road Fund.

5. An account of the receipts and payments of the Road Fund shall be prepared by the Minister for Local Government in such form as may be prescribed by the Minister for Finance, and shall be submitted to the Comptroller and Auditor General for audit.

Given under my hand this 7th day of November, 1923.

EARNÁN DE BLAGHD,

Minister for Finance.