Central Bank Act 1942

F158 [ Bank s surplus income.


32H. (1) The Bank shall pay its surplus income as and when determined under this section into the Exchequer in such manner as the Minister directs and may at any time pending such determination pay into the Exchequer such sums on account of surplus income as may be agreed on by the Minister and the Bank.

(2) The Minister may, after consultation with the Bank, make regulations providing for the periodic determination of the Bank s surplus income and, in particular, such regulations may

( a ) enable provision to be made for reserves, depreciation and other similar matters before the surplus income is determined, and

( b ) provide for any matter arising from the implementation of Chapters VI, VIII and IX of the ESCB Statute.

(3) In exercising the powers conferred by this section, the Minister is required to have regard to the functions imposed and the powers conferred on the Bank by or under the Rome Treaty and the ESCB Statute. ]