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EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - LONG
TITLE

An Act to amend the law with respect to the Exchequer and
Consolidated Fund of Northern Ireland; to make further provision with
regard to public accounts and the receipt, issue, borrowing,
investment, and funding of public moneys; and for purposes connected
therewith.
[14th February 1950]
PART I

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
1

1.(1) For the purposes of this Act or of any other enactment

(a)the public income of Northern Ireland for any financial year
shall be deemed to comprise all moneys received in the Exchequer in
that year, other than sums which are in the nature of capital
receipts as defined by section four of this Act, or by virtue of
a determination made by the Ministry of Finance (in this Act
referred to as "the Ministry") in accordance with paragraph (j) of
that section;

(b)the public expenditure of Northern Ireland for any financial year
shall be deemed to comprise

(i)all sums issued from the Exchequer in that year, other than
issues made for capital purposes of the Exchequer as defined by
sub-section (1) of section five of this Act; and

(ii)such issues for capital purposes as the Ministry may determine
to be public expenditure by virtue of the next succeeding
sub-section of this section; and

(b)the expression "the public income and expenditure" means the
public income of Northern Ireland and the public expenditure of
Northern Ireland.

(2) Issues made from the Consolidated Fund in any financial year
for capital purposes of the Exchequer as defined by section five of
this Act may, if and so far as the Ministry so determine, be
deemed to be part of the public expenditure for that year, so
however that the powers conferred by this sub-section shall be
exercised before the end of any financial year with respect to any
such issues made during that year.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
2
Annual accounts of public income and expenditure and of other
Exchequer receipts and payments.

2.(1) The Ministry of Finance shall, within fifteen days after the
expiration of every financial year, prepare and transmit to the
Comptroller and Auditor General accounts showing, by reference to the
actual receipt and issue of moneys into and out of the account of
the Exchequer at the Exchequer Bank during that financial year

(a)the public income and expenditure; and

(b)all other receipts into and payments out of the Exchequer;

(i)the amount of the surplus of public income over public
expenditure or of the excess of public expenditure over public
income, as the case may be, for that financial year; and

(ii)the balance to the credit of the Exchequer at the end of that
financial year.

(2) Copies of the said accounts, certified by the Comptroller and
Auditor General, shall be laid before the House of Commons within
one month after the expiration of the financial year, if that House
is then sitting, or if not sitting, within one week after that
House next sits after such expiration.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
3
Declared surplus or deficit.

3. The amount shown, by the account of the public income and
expenditure required under paragraph (a) of sub-section (1) of the
last preceding section, as the surplus of public income over public
expenditure or as the excess of public expenditure over public
income, as the case may be, for any financial year, shall be
carried at the end of that year to the account prescribed by
paragraph (b) of the said sub-section, and

(a)the amount of any such surplus of income over expenditure (which
may be called "the declared surplus" for that year) shall in the
next succeeding financial year be issued to the Reserve Fund as
provided by paragraph (b) of sub-section (2) of section twenty-one
of this Act; or

(b)the amount of any such excess of expenditure over income (which
may be called "the declared deficit" for that year) shall be deemed
to be a capital deficit of the Exchequer, to be discharged at such
time and in such manner as the Ministry thinks fit, in accordance
with section seven of this Act.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
4
Capital receipts in the Exchequer.

4. For the purposes of this Act or of any other enactment the
expression "capital receipts in the Exchequer" includes all moneys
received into the Exchequer

(a)from borrowings made (whether before or after the passing of this
Act) by the Ministry on the security of the Consolidated Fund;

(b)in respect of the declared surplus for any financial year;

(c)in or towards repayment whether from moneys provided by Parliament
or otherwise of the principal of loans or advances issued out of
the Consolidated Fund, other than loans or advances issued as part
of the public expenditure for any year;

(d)from the realisation of any investments made under section
nineteen of this Act, or from any fund created by virtue of that
section;

(e)in or towards repayment of sums issued from the Consolidated Fund
in fulfilment of guarantees given by the Ministry under any
enactment;

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

(g)from the Reserve Fund, by virtue of paragraph (c) of sub-section
(1) of section twenty-one of this Act;

(h)from any fund created under or by virtue of section eighteen of
this Act for the repayment of moneys borrowed by the Ministry;

(i)from moneys provided by Parliament for the purpose of the
repayment of sums issued from the Consolidated Fund to the funds
created by section twenty-five ... of this Act; and

(j)which, by virtue of this paragraph are, in cases of doubt,
determined by the Ministry, before the end of the financial year in
which they are received in the Exchequer, to be of the nature of
capital receipts in the Exchequer;

Capital purposes of the Exchequer.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
5

5.(1) For the purposes of this Act the expression "capital purposes
of the Exchequer" includes

(a)the repayment of the principal of any moneys borrowed by the
Ministry on the security of the Consolidated Fund (including the
setting aside of sums to any fund created under or by virtue of
section eighteen of this Act for such repayment);

(b)any issue for investment by virtue of section nineteen of this
Act;

(c)the discharge pursuant to section seven of this Act of any
capital deficit in the Exechequer;

(d)any issue to the Reserve Fund made under or by virtue of
paragraph (b) of sub-section (2) of section twenty-one of this Act;

(e)any other purpose (including capital expenditure or the making of
any loan or advance) for which the Ministry has power under any
enactment (whether passed before or after this Act, and including
this Act) other than an enactment contained in an Act passed for
the purpose of authorising sums to be issued towards making good
the supply granted to His Majesty for the service of any financial
year, to issue sums out of the Consolidated Fund, and to borrow
money for the purpose (including the setting aside of sums to the
funds created under section twenty-five ... of this Act).

(2) The Ministry may temporarily apply for capital purposes during
any financial year, any surplus of the public income received in
the Exchequer in that year over public expenditure met or to be
met from the Exchequer.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
6
Application of capital receipts in the Exchequer.

6.(1) Subject to the provisions of sub-section (3) of this section
capital receipts in the Exchequer shall be applicable from time to
time as the Ministry may think fit

(a)for all or any of the capital purposes of the Exchequer as
defined by the last preceding section;

(b)to provide for meeting any temporary deficit of public income
over public expenditure.

(2) Any provision of any enactment (whether passed before or after
this Act, and including this Act) which empowers the Ministry to
borrow moneys in order to provide for the issue of sums out of
the Consolidated Fund for capital purposes of the Exchequer shall,
subject to the provisions of sub-section (3) of this section, be
deemed to empower the Ministry to provide for the issue of such
sums out of any capital receipts in the Exchequer, including sums
transferred from the Reserve Fund for the purpose by virtue of
paragraph (c) of sub-section (1) of section twenty-one of this Act.

(3) Notwithstanding anything in the foregoing provisions of this
section any capital receipts in the Exchequer which are by virtue
of any statutory provision to be applied or set aside for specific
capital purposes shall be so applied or set aside before the end
of the financial year in which they were received into the
Exchequer.

(4) The powers conferred by this section shall be in addition to
and not in derogation of the powers of the Ministry under
sub-section (2) of section one of this Act to determine that any
issues for capital purposes in any financial year shall be of the
nature of public expenditure for that year.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
7
Provision for meeting capital deficits in the Exchequer.

7.(1) The Ministry shall have power to provide in such manner as
it thinks fit for the discharge of any capital deficits in the
Exchequer including any such deficit resulting from or which in the
opinion of the Ministry is likely to result from

(a)a declared deficit for any year;

(b)a capital loss on the sale or redemption of securities purchased
for investment by virtue of section nineteen of this Act;

(c)a loss on the sale or redemption of securities held by the
Ministry for the purpose of repayment of any issues made from the
Consolidated Fund for capital purposes of the Exchequer;

(d)the borrowing of moneys on the security of the Consolidated Fund
by the issue of securities at a discount;

(e)the operation of any enactment under or by virtue of which the
repayment of the whole or part of any issue made from the
Consolidated Fund for any capital purpose is to be written off or
is for any other reason not to be made;

(2) In the exercise of its powers under the preceding sub-section,
and without prejudice to the generality of such powers, the Ministry
may from time to time direct that such portion of the Reserve Fund
created by section twenty-one of this Act as it may determine (not
being an amount included in that Fund which is subject to
adjustment by virtue of sub-section (3) of that section) may be
deemed to be a specific reserve created to meet a capital deficit
in the Exchequer which has occurred or which in the opinion of the
Ministry is likely to occur.

(3) Pending the determination by the Ministry whether any such
specific reserve is required for the purpose for which it was
created, the amount thereof shall be deemed not to be available for
any other purpose for which the Reserve Fund was created:

Provided that if at any time the Ministry determines that any such
specific reserve has ceased to be required for the purpose for
which it was created, or exceeds the amount required for that
purpose, the amount thereof or, as the case may be, the amount of
the excess shall thereupon be deemed to be again available for the
general purposes of the Reserve Fund.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
8
Issues from Exchequer and appropriations in aid.

8.(1) Where an Act authorises any sum to be issued out of the
Consolidated Fund towards making good the supply granted to His
Majesty for the service of any year, every sum issued in pursuance
of that Act shall be applied towards making good the supply so
granted at the time of such issue.

(2) All moneys directed by or in pursuance of any enactment
(whether passed before or after this Act), or by the Ministry, to
be applied as an appropriation in aid of moneys provided by
Parliament for any purpose, shall be deemed to be money provided by
Parliament for that purpose, and shall, without being paid into the
Exchequer, be applied, audited, and dealt with accordingly, and so
far as it is not in fact so applied shall be paid into the
Exchequer.

(3) Where any fee, penalty, proceeds of sale, or other moneys of
the nature of extra receipts (other than capital receipts as defined
by section four of this Act) is or are by virtue of any enactment
(whether passed before or after this Act) or otherwise, payable into
the Exchequer, the Ministry may direct that the whole or any
specified part thereof shall be applied as an appropriation in aid
of moneys provided by Parliament for the service to which the said
extra receipts relate.[

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
8A
Power to make additional capital repayments out of surplus on votes.

8A. Where

(a)an Act authorises any sum to be issued out of the Consolidated
Fund towards making good the supply granted to His Majesty for the
service of any year and appropriates that sum by a vote for
particular services and purposes as expressed in the Act; and

(b)those services and purposes include a capital repayment, that is
to say, the repayment to the Exchequer of sums issued out of the
Consolidated Fund, under or by virtue of any enactment for capital
purposes specified in that enactment including the repayment to the
Exchequer of sums issued out of the Consolidated Fund to the
Capital Purposes Fund created under section twenty-five of this Act
...;

S.9 rep. by 1972 NI 10 art.23 sch.8

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
10
Finance accounts.

10.(1) In addition to the accounts to be kept under sections one
and thirty-six of this Act or under any provision of the Exchequer
and Audit Act (Northern Ireland), 1921, the Ministry shall prepare
in respect of each financial year statements (which may be called
"the Finance Accounts") showing

(a)the nature of the public income and of other receipts into the
Exchequer;

(b)the nature of the public expenditure and other issues made from
the Exchequer;

(c)the balances of public income due at the end of the year to
the Exchequer from all public accounts in Northern Ireland;

(d)the balances of grants for supply services made by Parliament and
remaining unissued from the Exchequer at the end of the year;

(e)the public debt of Northern Ireland, reductions thereof made
during the year, and the amount outstanding at the end of the
year;

(f)contingent liabilities of the Consolidated Fund at the end of the
year; and

(g)such other details of Exchequer transactions as the Ministry may
determine.

(2) The Ministry shall lay copies of the Finance Accounts before
Parliament on or before the thirtieth day of November next after
the expiration of each financial year, if Parliament is then
sitting, or if not sitting, within fourteen days after the next
meeting of Parliament.

Exercise of borrowing powers by the Ministry of Finance.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
11

11.(1) Where the Ministry has power under any enactment (including
an enactment contained in this Act or in any Act passed after the
commencement of this Act) to borrow money for the purpose of making
any issue from the Consolidated Fund that power may be exercised in
any one or more than one of the following ways, that is to say

(a)by the creation and issue of Ulster Savings Certificates, in
accordance with sections fifteen and sixteen of this Act and
regulations made thereunder;

(b)by the creation and issue of Northern Ireland Treasury Bills in
accordance with the First Schedule to this Act;

(c)by the creation and issue of such other securities bearing such
rate of interest and subject to such conditions as to issue,
redemption, repayment, exchange, or otherwise, as the Ministry may by
order determine;

(d)by borrowing from the Government Loans Fund;

(e)by borrowing from any other fund which is under the control of
any department of the Government of Northern Ireland in pursuance of
any enactment;

(f)by borrowing from the Exchequer Bank or such other banks or
persons on such conditions as the Ministry may from time to time
determine;

(g)by the temporary creation of overdrafts in accordance with section
fourteen of this Act.

(2) All sums raised by the Ministry under or by virtue of the
powers conferred by this Part of this Act shall be paid into the
Exchequer.

(3)The principal of and interest on any Ulster Savings Certificates,
Northern Ireland Treasury Bills, or any other securities issued or
loan raised by virtue of this Part of this Act shall be charged
on and payable out of the Consolidated Fund, and the issue of sums
from time to time to provide for the repayment of the principal
thereof (whether for the immediate repayment or for issues to any
fund created under or by virtue of section eighteen of this Act
for future repayment) shall be a capital purpose of the Exchequer
for which the Ministry may borrow moneys in any manner provided by
sub-section (1) of this section.

(4) Any expenses incurred in connection with the issue of any
securities or the raising of any loan by virtue of this Part of
this Act, or in connection with the redemption, repayment, or
conversion thereof, shall be charged on and issued out of the
Consolidated Fund, or, if, and to such extent as the Ministry so
directs, out of moneys provided by Parliament.

Subs.(5) rep. by 1971 c.6 (NI) s.9(3) sch.3

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
12
Effect of existing statutory powers as to borrowing and the
repayment thereof.

12.(1) All moneys borrowed before the date of the passing of this
Act by the Ministry on the security of the Consolidated Fund for
purposes specified in any enactment and outstanding on that date,
shall be deemed to have been borrowed by virtue of the last
preceding section, and notwithstanding anything in any enactment as
to the manner in which sums may be borrowed in order to provide
for issues out of the Consolidated Fund for purposes specified in
that enactment those sums may be borrowed in any one or more than
one of the ways authorised by this Part of this Act, and the
provisions of this Part of this Act shall apply accordingly.

(2) Subject to any provision of any enactment (whether passed before
or after this Act and including this Act) under which a maximum
period is prescribed for the repayment of moneys borrowed to provide
for the issue, for purposes specified in that enactment, of sums
out of the Consolidated Fund, any provisions of that enactment as
to such repayment shall be deemed to be in addition to and not in
derogation of the powers conferred on the Ministry by sub-section
(3) of the last preceding section to provide for the repayment of
borrowed moneys in such manner as the Ministry may from time to
time determine.

(3) Any enactment authorising the investment of moneys belonging to
any fund which is under the control of any department of the
Government of Northern Ireland shall be deemed to authorise the
making of loans to the Exchequer under paragraph (e) of sub-section
(1) of section eleven of this Act.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
13
Chargeability of premiums payable in connection with advances to
Exchequer.

13.(1) Where, by virtue of paragraph (d) of sub-section (1) of
section eleven of this Act, the Ministry

(a)has advanced money to the Exchequer out of the Government Loans
Fund; and

(b)determines that a premium should be paid to the Government Loans
Fund on the premature repayment of the money advanced, or in
respect of any variation in the terms as to rate of interest
thereon or repayment thereof;

(2) The Ministry may borrow money for the purpose of providing for
issues from the Consolidated Fund to the Government Loans Fund in
respect of premiums under this section.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
14
Exercise of statutory borrowing powers by means of overdrafts.

14.(1) The Ministry may, for any purpose for which it has power to
make issues from the Consolidated Fund, from time to time by
agreement with the Exchequer Bank overdraw the account of the
Exchequer, provided that no such overdraft shall be permitted to
remain outstanding beyond the last day of the month in which it
has been created.

(2) The creation and cancellation of overdrafts shall not be treated
as transactions requiring to be shown in any prescribed account
having reference to Exchequer receipts and issues, but the interest
on any such overdraft shall be included in the said accounts and
shall be charged on and issued out of the Consolidated Fund.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
15
Ulster Savings Certificates.

15.(1) For the purposes of borrowing money the Ministry may issue
Ulster Savings Certificates subject to such conditions as to issue,
redemption, repayment, exchange, or otherwise, as may be prescribed
from time to time.

(2) The Ministry may, by regulations made under the preceding
sub-section, make provision, as respects Ulster Savings Certificates,
for any matter for which provision may be made by regulations of
the Treasury of the United Kingdom, as respects savings certificates
under any of the enactments set out in the Second Schedule to this
Act, and those enactments shall apply accordingly.

Subs.(3) rep. by 1955 c.29 (NI) s.5 sch.3

(4) Regulations made under the said sub-section (1) may contain a
provision directing that all or any of those regulations shall, with
such modifications as appear necessary or expedient, apply and be
deemed always to have applied as respects Ulster Savings Certificates
issued before the date on which the regulations come into force as
they apply to such Certificates issued after that date.

(5) All regulations made under the said sub-section (1) shall, so
soon as may be after they are made, be laid before each House of
Parliament. If either House of Parliament, within the statutory
period next after any regulation made as aforesaid has been laid
before such House, resolves that the regulation shall be annulled,
the regulation shall, after the date of the resolution, be void,
but without prejudice to the validity of anything previously done
thereunder or to the making of a new regulation.

(6) In this section the expression "statutory period" means ...

definition in 1954 c.33 (NI) s.41(2) substituted by 1979 NI 12
art.10

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
16
Power to extend currency of Ulster Savings Certificates and to issue
securities in exchange.

16.(1) Notwithstanding anything in any regulations made or directions
given under any enactment or any conditions relating to the issue
of Ulster Savings Certificates, the Ministry may from time to time
[by regulations made under the last preceding section provide] that
the currency of any Ulster Savings Certificates to which [the
regulations apply] shall be prolonged to such extent and on such
conditions as to interest and otherwise as may be specified in
[those regulations].

(2) The Ministry may make arrangements for enabling the holders of
any Ulster Savings Certificates to exchange them (whether on or
before maturity) for

(a)Ulster Savings Certificates of an issue later than that of the
Ulster Savings Certificates to be exchanged; or

(b)any securities issued by virtue of paragraph (c) of sub-section
(1) of section eleven of this Act, or of an order made thereunder;
or

(c)any Loans stock issued under section three of the Government
Loans Act (Northern Ireland), 1939, or Loans securities issued under
section four of that Act,

(3) Regulations made by the Ministry under the last preceding
section may make provision for carrying into effect the provisions
of this section as to the issue of securities in exchange for
Ulster Savings Certificates.

(4) Nothing in this section or in any regulation, ... or
arrangement made thereunder shall prejudice the right of any holder
of an Ulster Savings Certificate, if he so desires, to have the
amount payable under the certificate paid to him on or before
maturity.

(5) In this section the expression "currency" in relation to an
Ulster Savings Certificate, means the period at the expiration of
which the certificate is required to be redeemed or repaid.[

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
17
Exchequer Accrued Interest Fund.

17.(1) The Ministry shall establish and maintain a fund to be
called the Exchequer Accrued Interest Fund.

(2) The Ulster Savings Certificates (Interest) Sinking Fund shall be
abolished and any sums or investments standing to the credit of
that Fund shall by virtue of this sub-section be transferred to the
Exchequer Accrued Interest Fund.

(3) Subject to sub-section (6), the Minisry shall in respect of
each financial year pay into the Exchequer Accrued Interest Fund
such sums, if any, as the Ministry determines to be necessary to
meet the estimated liability accruing up to the end of that year
in respect of interest on Ulster Savings Certificates.

(4) Subject to sub-section (6), the Ministry may in respect of any
financial year pay into the Exchequer Accrued Interest Fund such
sums, if any, as the Ministry determines to be expedient for the
purpose of meeting any estimated liability accruing up to the end
of that year in respect of the interest on money borrowed by the
Ministry otherwise than by the issue of Ulster Savings Certificates.

(5) The sums paid into the Exchequer Accrued Interest Fund under
sub-sections (3) and (4) shall be charged on and issued out of the
Consolidated Fund.

(6) The sums standing to the credit of the Exchequer Accrued
Interest Fund shall be invested, and

(a)any interest on or profit resulting from any investment thereof
shall be accumulated, in such manner as the Ministry may determine;
and

(b)any accumulations under paragraph (a) shall be taken into account
in estimating the sums, if any, which are to be paid into the
Fund under sub-section (3) or (4).

(7) The sums standing to the credit of the Exchequer Accrued
Interest Fund

(a)shall be applied by the Ministry in the payment of interest on
the redemption of Ulster Savings Certificates;

(b)may be applied by the Ministry in the payment of interest on
money borrowed by the Ministry otherwise than by the issue of
Ulster Savings Certificates.]

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
18
Funds for the redemption of public debt.

18.(1) Subject to the provisions of this section, there shall be
charged on and issued out of the Consolidated Fund such sums as
the Ministry may from time to time determine to be set aside to

(a)an Ulster Savings Certificates (Redemption) Fund established for
the repayment or redemption of the principal of Ulster Savings
Certificates; and

(b)such other funds as the Ministry may create under this section
for the redemption or repayment of the principal of any other
moneys borrowed by the Ministry.

(2) The amount standing to the credit of the Ulster Savings
Certificates (Redemption) Fund at the end of any financial year
shall not be less than the amount of principal outstanding in
respect of any Ulster Savings Certificates guaranteed by the Treasury
of the United Kingdom by virtue of section one of the Government
of Northern Ireland (Loan Guarantee) Act, 1922, and such Fund shall
stand charged with the payment to the Treasury of any sums due to
the Treasury by the Ministry in respect of any payments made by
the Treasury on foot of such guarantee.

(3) The amount standing to the credit of any fund created under
paragraph (a) or paragraph (b) of sub-section (1) of this section
shall not exceed at the end of any financial year the amount of
principal outstanding in respect of the borrowed moneys for the
repayment or redemption of which that fund was created.

(4) The Ministry may apply moneys standing from time to time to
the credit of any fund created under paragraph (a) or paragraph (b)
of sub-section (1) of this section, including any interest on or
profit resulting from any investment thereof in the repayment or
redemption for which the fund was created or may invest and
accumulate such moneys in such manner as the Ministry may determine.

(5) If, at the end of any financial year, the amount standing to
the credit of any fund created as aforesaid exceeds the amount of
principal outstanding in respect of the borrowed moneys for the
repayment or redemption of which such fund was created, the amount
of such excess shall, subject to any provision made by the Ministry
by virtue of sub-section (1) of section twenty-nine of this Act, be
paid to the Reserve Fund.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
19
Investment of Exchequer moneys.

19.(1) The Ministry may set aside out of the Consolidated Fund and
invest any moneys standing from time to time to the credit of the
Exchequer (including moneys borrowed by virtue of this Act or of
any other enactment authorising the borrowing of money on the
security of the Consolidated Fund) in such securities as the
Ministry may from time to time determine.

Subs.(2) rep. by 1971 c.6 (NI) s.9(3) sch.3[

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
19A
Unclaimed balances in respect of Exchequer borrowings.

19A.(1) Where any balances to the credit of any person in respect
of the principal or interest or otherwise of Ulster Savings
Certificates, securities issued or moneys borrowed under or by virtue
of section eleven of this Act shall have remained dormant or
unclaimed in the hands of the Ministry for a period of six years
at least before the first day of January then last past, the
Ministry may direct that such balances shall be transferred to the
Exchequer.

(2) Where the Ministry is satisfied that any person making a claim
in that behalf is entitled to any payment in respect of the sums
transferred to the Exchequer under this section, the Ministry may
issue to that person out of the Consolidated Fund such sums as may
appear to it to be necessary to provide for the said payment.]

Construction of references to Consolidated Fund.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
20

20.(1) Every reference in any enactment passed before the
commencement of this Act to the "Consolidated Fund or the growing
produce thereof" shall in so far as it applies to the Consolidated
Fund of Northern Ireland be construed as if the words "or the
growing produce thereof" were omitted therefrom.

Subs.(2) rep. by 1956 c.17 (NI) s.18 sch.3; subs.(3) rep. by 1954
c.33 (NI) s.48(1) sch.

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.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
22
Civil Contingencies Fund.

22.(1) Subject to the provisions of this and the next two
succeeding sections the fund known as the Civil Contingencies Fund
shall be held by the Ministry for the purpose of providing funds
for making advances in respect of urgent services in anticipation of
the provision made or to be made by Parliament becoming available,
or for making advances in anticipation of the realisation of
receipts in connection with any services for which provision is so
made or to be made, or for making advances to any Government
department for the provision of working cash balances in connection
with any services.

(2) The Civil Contingencies Fund shall, subject to the provisions of
the next succeeding section, have a fixed capital of [seven hundred
and fifty thousand pounds] which, for the purposes of this or any
other enactment, shall be deemed to have been charged on and issued
out of the Consolidated Fund.

(3) The Ministry may, in such manner as it may from time to time
determine, invest moneys standing to the credit of the Civil
Contingencies Fund, and subject to any provision made by the
Ministry by virtue of sub-section (1) of section twenty-nine of this
Act, any interest or profit arising on such investments shall be
paid into the [Reserve Fund].

(4) The Civil Contingencies Fund shall, to such extent as the
Ministry thinks necessary, be made available as additional security
for the repayment of any moneys borrowed on the security of the
Consolidated Fund for any capital purpose authorised by Parliament.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
23
Temporary increase of Civil Contingencies Fund.

23.(1) Where ... it appears to the Ministry expedient so to do the
Ministry may borrow such sums as may from time to time be required
for the purpose of increasing temporarily the capital of the Civil
Contingencies Fund beyond the amount fixed by sub-section (2) of the
preceding section as from time to time amended by any subsequent
enactment:

Provided that

(a)any sums so borrowed shall be repaid by the Civil Contingencies
Fund at such times and in such manner as the Ministry may direct,
...

Para.(b) rep. by 1974 NI 4 art.6 sch.3

(2) The power of borrowing conferred on the Ministry by this
section may be exercised in either of the following ways

(a)by making an advance to the Civil Contingencies Fund out of the
Consolidated Fund, and the Ministry may borrow money for the purpose
of issuing such advances; or

(b)by obtaining a loan to the Civil Contingencies Fund from the
Exchequer Bank or from such other banks or persons and on such
conditions as the Ministry may determine.

(3) The interest, if any, on sums borrowed by the Civil
Contingencies Fund under this section, and so far as that Fund may
not be sufficient, the repayment of the principal of sums so
borrowed, shall be charged on and issued out of the Consolidated
Fund.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
24
Account of the Civil Contingencies Fund.

24.(1) The Ministry shall, after the end of each financial year,
prepare an account of the Civil Contingencies Fund, and such account
shall, on or before the fifteenth day of October next after the
expiration of that financial year be submitted to the Comptroller
and Auditor General, and be audited by him.

(2) On or before the fifteenth day of November next following the
submission of any such account to him the Comptroller and Auditor
General shall send a copy thereof as audited by him to the
Ministry, and the Ministry shall lay the same before the House of
Commons on or before the thirtieth day of the last-mentioned month,
if Parliament is then sitting, or, if not, within one week after
Parliament next meets thereafter.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
25
Capital Purposes Fund.

25.(1) Where the Ministry has power under or by virtue of any
enactment (whether passed before or after this Act and including
this Act) to issue, other than for investment or the repayment of
borrowed moneys, out of the Consolidated Fund any moneys required
for capital purposes specified in that enactment, such power shall
be deemed to include the power from time to time to set aside out
of the Consolidated Fund and invest such sums as the Ministry may
think fit, which sums shall be credited to a Capital Purposes Fund
established for the purpose of providing moneys for capital purposes.
Any sums so issued out of the Consolidated Fund may be repaid to
the Exchequer out of moneys provided by Parliament ....

(2) Subject to the provisions of this sub-section, any power of the
Ministry to make issues out of the Consolidated Fund for capital
purposes specified in any enactment shall be deemed to include power
to make issues out of moneys credited to the Capital Purposes Fund
for those purposes and any moneys issued out of the Capital
Purposes Fund for capital purposes specified in any enactment shall
be treated as having been issued out of the Consolidated Fund for
such purposes, but so, however, that the total amount issued for
any specified capital purpose out of the Capital Purposes Fund shall
not exceed

(a)the total amount credited to that Fund for that capital purpose;
nor

(b)when added to any issues made directly from the Consolidated Fund
for that capital purpose, any limit imposed by Parliament on the
total amount of issues from the Consolidated Fund for that purpose.

(3) Subject to the provisions of the last preceding sub-section, the
powers conferred by sub-section (1) of this section to set aside
moneys for any capital purpose by means of sums issued from the
Consolidated Fund to the Capital Purposes Fund shall be in addition
to and not in derogation of the powers conferred by any enactment
to make issues from time to time for that capital purpose directly
from the Consolidated Fund or, if such enactment so provides, out
of moneys provided by Parliament, and such powers to make issues
directly from the Consolidated Fund or from moneys provided by
Parliament may be exercised notwithstanding that sums are held for
such a capital purpose in the Capital Purposes Fund.

(4) Subject to any provision made by the Ministry by virtue of
sub-section (1) of section twenty-nine of this Act any interest on
or profit resulting from the sale of investments in the Capital
Purposes Fund shall be transferred to the Reserve Fund before the
end of each financial year.

(5) If at any time the Ministry determines that moneys set aside
for capital purposes in the Capital Purposes Fund have ceased to be
required for the purpose for which they were so set aside, or
exceed the amount required for that purpose, the amount thereof, or
as the case may be, the amount of the excess, shall be transferred
to the Reserve Fund.

S.26 rep. by 1978 NI 11 art.14 sch.3 Pt.II

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.]

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
28
Church Temporalities.

28.(1) All moneys arising from the apportionment to the Government
of Northern Ireland under section thirty-one of the Government of
Ireland Act, 1920, of revenues derived from land, or any interest
in land, shall so far as they are of the nature of annual income,
and after making such adjustments by way of repayment or otherwise
as may be required, be paid into the Exchequer as part of the
public income.

(2) All moneys arising from time to time from the redemption of
any mortgage or charge belonging and apportioned to the Government
of Northern Ireland as aforesaid or from the sale of any land or
interest in land so belonging and apportioned shall be paid to the
Terminable Revenues Sinking Fund and shall be invested, accumulated,
and applied as the Ministry may determine under sub-section (2) of
the last preceding section.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
29
Power to provide against loss of capital.

29.(1) In the exercise of its powers under this Act with respect
to the investment, accumulation, and application of any fund the
Ministry may from time to time make provision, whether out of the
income of that fund or out of any profit resulting from the sale
or redemption of any investment made in connection therewith or in
such other manner and to such an extent as it may think fit, for
any loss of capital which has occurred or which in the opinion of
the Ministry is likely to occur on the realisation or redemption of
any investments held by it for the purposes of any such fund and
any provision so made shall be shown in the accounts of the fund
to which it relates.

(2) Any enactment (whether passed before or after this Act, and
including this Act) which authorises sums to be charged on and
issued out of the Consolidated Fund to any such fund as aforesaid
shall have effect so as to authorise the charge on and issue out
of the said Consolidated Fund of such amounts as the Ministry may
determine to be necessary for the purpose of making such provision.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
30
Investment of Government funds.

30. Where at any time the Ministry, in the exercise of its powers
of investing moneys belonging to any fund under its control, directs
or has directed that such moneys shall be invested by and in the
name of the Solicitor to the Ministry, then

(a)the realisation of such investment and any other dealing with, or
transaction arising out of, such investment shall, subject to the
direction and control of the Ministry, be carried out by the said
Solicitor or by the Principal Assistant Solicitor to the Ministry in
the name and on behalf of the said Solicitor;

(b)such investment shall, on the death, resignation or removal from
office of any person being the Solicitor to the Ministry, vest by
virtue of this section in his successor as such Solicitor, and
shall not, in the event of such death, constitute assets of the
deceased or be (except for the purposes of this provision) subject
to the control of his legal representatives.[

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
31
Power to make temporary advances to Government funds.

31.(1) The Ministry of Finance may from time to time as it thinks
fit temporarily advance from the Consolidated Fund to any Government
fund such sums as appear to it to be required for the purpose of
making any payments to be made out of such Government fund.

(2) The Ministry may borrow money for the purpose of providing for
issues from the Consolidated Fund under this section.

(3) Any sums advanced in any financial year under this section to
a Government fund shall be charged on that fund and shall before
the end of that year be repaid out of that fund to the Exchequer
together with interest at such rate as the Ministry may determine.

(4) The powers conferred by this section shall be in addition to
and not in derogation of the powers conferred by an enactment
(whether passed before or after this Act and including this Act) to
issue sums from the Consolidated Fund to any Government fund.

(5) In this section the expression "Government fund" means any fund
administered and controlled pursuant to the provisions of any
enactment by any department of the Government of Northern Ireland.]

S.32 rep. by 1955 c.6 (NI) s.21 sch. 1956 c.17 (NI) s.18 sch.3;
1970 c.9 (NI) s.33(2) sch.4

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
33
Provision for the charging of capital expenditure on voluntary
schools.

33.(1) There shall be charged on and issued out of the Consolidated
Fund or (if the Ministry so directs) out of moneys provided by
Parliament, the amount of any payments made or to be made on or
after the first day of April, nineteen hundred and forty-eight by
the Ministry of Education for the purpose of the provision,
equipment, alteration, enlargement or reconstruction of voluntary
schools under [Article 106 of the Education and Libraries (Northern
Ireland) Order 1972, or any payment by that Ministry to boards
under Article 104 (1) of that Order for the purpose of meeting
expenses incurred in connection with any permanent works the cost of
which is properly chargeable to capital or for any other purpose
for which capital moneys may properly be applied] [so, however, that
the aggregate of the sums to be charged on and issued out of the
Consolidated Fund under this sub-section shall not unless and until
Parliament otherwise determines exceed [ninety-eight million pounds]].

(2) The Ministry may borrow money for the purpose of providing
money for issues out of the Consolidated Fund by virtue of the
preceding sub-section.

(3) Moneys borrowed by virtue of the preceding sub-section shall be
repaid within any period or periods not exceeding twenty-five years
from the date of borrowing, and any sums so issued out of the
Consolidated Fund may be repaid to the Exchequer out of moneys
provided by Parliament ....[

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
33A
Provision for the charging of capital expenditure required for
accommodation of public services.

33A.(1) There shall be charged on and issued out of the
Consolidated Fund or (if the Ministry so directs) out of moneys
provided by Parliament, such sums as the Ministry may determine to
be necessary for the acquisition of land and buildings or of any
estate or interest therein for the accommodation of any public
service of the Government of Northern Ireland, or the erection,
improvement, alteration, enlargement, furnishing, or equipment of
buildings used or to be used for that purpose, so, however, that
the aggregate of the sums to be charged on and issued out of the
Consolidated Fund under this sub-section shall not unless and until
Parliament otherwise determines exceed [sixty million pounds].

(2) The Ministry may borrow money for the purpose of providing for
issues out of the Consolidated Fund under the preceding sub-section.

(3) Moneys borrowed under the last preceding sub-section shall be
repaid within any period or periods not exceeding twenty-five years
from the date of borrowing, and provision for such repayment may be
made out of moneys provided by Parliament.

[(4) The provisions of sub-section (1) of this section shall be in
addition to and not in derogation of the provisions of any
enactment (whether passed before or after this Act and including
this Act) under which separate provision is made in respect of any
public service of the Government of Northern Ireland for the issue
out of the Consolidated Fund of such sums as the Ministry may
determine to be necessary, in connection with that public service,
for purposes corresponding to the purposes of this section.][

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
33AA
Provision for the charging of certain expenditure required for
maintenance of public works and buildings.

33AA.(1) Where before the end of a financial year it appears to
the Ministry that a sum appropriated by Parliament for defraying
expenditure in respect of public works and buildings is or may be,
by reason of exigencies, insufficient for meeting expenditure incurred
in that year on the maintenance of public works and buildings, and
additional sums to meet that expenditure are issued out of the
Civil Contingencies Fund, then any sums so issued shall be repaid
to that Fund, as the Ministry may determine respectively,

(a)out of the unexpended balance, if any, of sums appropriated by
Parliament for expenditure in respect of public works and buildings
under any Appropriation Act of the financial year in which the
additional sums were required; and

(b)to the extent to which such sums are not repaid out of such
unexpended balance, out of moneys provided by Parliament for
expenditure in respect of public works and buildings in the year in
respect of which such repayment is made to the Civil Contingencies
Fund.

(2) For the purposes of this section, references to expenditure on
maintenance shall include expenditure on maintenance, renewal and
repair and, to such extent as the Ministry may determine,
expenditure of a minor character on the erection, improvement,
alteration, enlargement, furnishing or equipment of public works and
buildings.]

S.33B rep. by 1970 c.1 (NI) s.36 sch.6. S.33C rep. by 1974 NI 4
art.6 sch.3

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
34
Issues from Consolidated Fund to Irish Sailors and Soldiers Land
Trust in aid of housing.

34.(1) There shall be charged on and issued out of the Consolidated
Fund to the Irish Sailors and Soldiers Land Trust such sums as the
Ministry may from time to time determine to be payable under this
section in respect of houses constructed in Northern Ireland by the
said Trust, and commenced on or after the first day of April,
nineteen hundred and forty-six.

(2) The sum payable in respect of each house so constructed as
aforesaid shall be such amount as the Ministry may from time to
time determine to be equivalent to the capitalised value of the
annual contributions which would at the date of completion of such
house be payable to the Northern Ireland Housing Trust under
sub-section (2) of section sixteen of the Housing Act (Northern
Ireland), 1945, as from time to time amended by any subsequent
enactment, if such house had been provided by that Trust.

(3) No sum shall be payable under this section in respect of any
house, unless the Ministry is satisfied that the house complies with
such standards as may from time to time be prescribed in respect
of workers' houses provided by a local authority under the Housing
Acts (Northern Ireland), 1890 to 1948, and with such further
standards and conditions as the Ministry may determine.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
35
Thiepval War Memorial Fund.

35. Whereas by the Appropriation (No. 2) Act (Northern Ireland),
1928, a sum was granted out of the Consolidated Fund and
appropriated for the purpose of expenditure in connection with the
maintenance of the Thiepval War Memorial, otherwise known as the
36th (Ulster) Division Memorial, Thiepval (which Memorial, with the
land forming part thereof, is in this section referred to as "the
said Memorial"):

And whereas out of the said sum a fund, called the Thiepval
Memorial Fund, was created by the Ministry for the purpose of
providing in perpetuity for the maintenance of the said Memorial:

And whereas by an agreement dated the nineteenth day of July,
nineteen hundred and thirty-five, the Thiepval Memorial Fund was
transferred by the Ministry to the Imperial War Graves Commission
(incorporated by Royal Charter dated the twenty-first day of May,
nineteen hundred and seventeen) for the said Commission to hold and
to employ the income from time to time derived therefrom for the
purpose of the maintenance of the said Memorial:

Therefore the following provision shall have effect

[In the event of the income from the Thiepval Memorial Fund proving
insufficient to meet the cost of the maintenance, improvement,
alteration, furnishing or equipment of the said Memorial, there shall
be charged on and issued out of the Consolidated Fund, and paid
from time to time to the Commission, such sums as may be
determined by the Ministry, after consultation with the said
Commission, to be necessary for those purposes.]

Capital Accounts.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
36

36.(1) The Ministry shall keep, in respect of each financial year,
and in such form as it may determine, accounts showing

(a)capital receipts and capital expenditure;

(b)the earnings on capital advances or investments;

(c)the receipts into, and payments out of, any fund or account
created under or by virtue of any provision of this Act, other
than a provision relating to the Civil Contingencies Fund, or any
enactment amending or extending the provisions of this Act.

(2) The accounts required to be kept under this section (which for
the purposes of this Act or of any other enactment may be called
"the Capital Accounts") shall, on or before the fifteenth day of
October next after the expiration of each financial year, be
submitted to the Comptroller and Auditor General, and shall be
audited by him.

On or before the fifteenth day of November next after the said
date, the Comptroller and Auditor General shall send the accounts as
audited by him to the Ministry, and the Ministry shall lay the
said accounts before the House of Commons on or before the
thirtieth day of the last-mentioned month, if Parliament is then
sitting, or if not sitting, within one week after the then next
meeting of Parliament.

S.37, with Third Schedule, effects amendments

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
38
Repeals.

38.Subs.(1)(2), with Fourth Schedule, effect repeals

(3) The repeals effected by this section shall not operate to
prejudice or affect ... any mortgage, deed, or agreement made,
stock, security, or instrument issued, or thing done, under any
enactment repealed by this section; but any such mortgage, deed,
agreement, stock, security, instrument or thing shall, if in force
at the passing of this Act, continue in force, so far as it could
have been made, issued, or done under this Act, shall have effect
as if made, taken, issued or done under this Act.

(4) The mention of particular matters in this or the next
succeeding section shall not be held to prejudice or affect the
general application of section thirty-eight of the Interpretation Act,
1889, with regard to the effect of repeals.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
39
Transitory provisions.

39.(1) Any fund or account constituted under or by virtue of any
enactment repealed by this Act shall be deemed to be constituted
under or by virtue of the enactment contained in this Act which
authorises the constitution of a fund or account for corresponding
purposes and all moneys, securities, or other property or assets
comprised in any fund or account created under or by virtue of any
enactment repealed by this Act shall by virtue of this section and
without more be or become part of any fund or account created for
corresponding purposes under or by virtue of any enactment contained
in this Act.

(2) Any document referring to any Act or enactment repealed by this
Act shall be construed as referring to this Act or to the
corresponding enactment (if any) in this Act.

(3) Any order, regulation or direction made, any certificate,
sanction or consent given or made and anything done under any
enactment repealed by this Act shall, for the purposes of this Act,
be deemed to have been made, given, or done under the corresponding
provisions (if any) of this Act.

(4) Any determination, direction or authorisation made or granted
under any enactment repealed by this Act and re-enacted with or
without modifications, by this Act shall have the like effect, and
the like proceedings may be had thereon and in respect thereof, as
if it had been made, or granted, under this Act.

Subs.(5) rep. by 1955 c.6 (NI) s.21 sch.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
40
Interpretation.

40.(1) In this Act, unless the contrary intention appears, the
following expressions have the meanings hereby assigned to them, that
is to say

"Exchequer" means the Exchequer of Northern Ireland;

"enactment" includes a provision in any Act (whether public general,
local or private) of the Parliament of Northern Ireland or of the
Parliament of the United Kingdom or of the Irish Parliament and a
provision in any Order in Council, order, regulation, rule, byelaw,
scheme or other instrument made under or by virtue of any such
Act;

"the Ministry" has the meaning assigned to it by paragraph (a) of
sub-section (1) of section one of this Act.

(2) Any reference in this Act to any other enactment shall be
construed as a reference to that enactment as in force in Northern
Ireland at the date of the passing of this Act.

Subs.(3) rep. by 1954 c.33 (NI) s.48(1) sch.

EXCHEQUER AND FINANCIAL PROVISIONS ACT (NORTHERN IRELAND) 1950 - SECT
41
Short title.

41. This Act may be cited as the Exchequer and Financial Provisions
Act (Northern Ireland), 1950.

Section 11.

1. Subject to the succeeding provisions of this Schedule, each
Northern Ireland Treasury Bill [shall be issued by, or on behalf
of, the Ministry] in such form as the Ministry may prescribe.

2. Each Bill shall be for the payment of the principal sum named
therein in the manner and at the date therein stated, so however
that the date of payment shall be not more than twelve months from
the date of issue of the Bill.

3. Interest shall be payable in respect of each Bill at such rate
and in such manner as the Ministry may determine at the time of
the issue thereof.

4. Each Bill shall bear the name of the Secretary, or the Second
Secretary, or one of the Assistant Secretaries for the time being
of the Ministry, and that name may be impressed or affixed by
machinery or otherwise in such manner as the Ministry may from time
to time determine.

5. Bills shall be prepared ... under the authority of a Warrant
... of the Ministry, and shall be issued by the Exchequer Bank or
otherwise as the Ministry may determine.

6. The Ministry may by regulations make provision for carrying into
effect the provisions of this Schedule, and in particular for

(a)regulating, in accordance with the foregoing provisions of this
Schedule, the preparation, form, manner of issue, presentation,
payment and cancellation of Bills;

(b)regulating the issue of a new Bill in lieu of one defaced, lost
or destroyed;

(c)preventing, by the use of counterfoils or of a special
description of paper or otherwise, fraud in relation to Bills; and

(d)the proper discharge to be given upon payment of a Bill.Third
ScheduleAmendments. Fourth Schedule rep. by SLR (NI) 1954