Development Banks Act 2005

Financial and other provisions.

3

3.—(1) Payments under the Agreement in respect of subscription to the Bank, as and when such payments become appropriate to be made on behalf of the State, shall be made out of the Central Fund or the growing produce thereof.

(2) Any moneys received on behalf of the State from the Bank shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which that Fund is available.

(3) The F1 [ Central Bank of Ireland ] shall act as a depository for the holdings in Euro and other assets of the Bank.

(4) This section comes into operation on the day on which the State becomes a member of the Bank in accordance with the terms of the Agreement.

Annotations:

Amendments:

F1

Substituted (1.10.2010) by Central Bank Reform Act 2010 (23/2010), s. 15(13) and sch. 2 part 14 item 19, S.I. No. 469 of 2010.