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Dáil Éireann debate -
Tuesday, 9 Mar 1965

Vol. 214 No. 10

Committee on Finance. - Central Fund Bill, 1965: Money Resolution.

I move:

That it is expedient to authorise such charges on and payments out of the Central Fund or the growing produce thereof and such payments out of moneys provided by the Oireachtas as are necessary in connection with the creation and issue of securities under any Act of the present session to apply certain sums out of the Central Fund to the service of the years ending on the thirty-first day of March one thousand nine hundred and sixty-five and one thousand nine hundred and sixty-six and to authorise the creation and issue by the Minister for Finance of certain non-interest bearing securities.

This relates to section 4, because there will be a charge on the Central Fund in respect of the draw under the new scheme of securities I shall deal with. There will be a draw every year for a stated amount, which will have to be paid out of the Central Fund and there will also be expenses.

Would it not be reasonable to ask the Minister to introduce the Central Fund Bill before he asks us to consent to this?

This is to give me whatever expenses may be incurred in promoting this new type of security.

In a desire to accommodate the Minister for Finance, I am prepared to do this; but the Minister will agree he has not yet explained to the House section 4 of the Central Fund Bill, to finance which he is moving Resolution No. 8. He is asking a good deal of this House to pass No. 8 before we deal with section 4; but, if that is more convenient for the Minister, we are prepared to do it.

If you reject the Central Fund Bill, it does not operate.

We have already given you authority in respect of a Bill which does not yet operate.

Question put and agreed to.
Resolution reported and agreed to.