Markets in Financial Instruments and Miscellaneous Provisions Act 2007
Amendments to Finance Act 1993.
15.— Section 138(1) of the Finance Act 1993 is amended—
( a) in section 138(1), by inserting the following after paragraph ( c):
“( ca) The Minister—
(i) may engage in transactions of a normal banking nature in connection with the exercise of the powers in subsection (1)( a), ( b) and ( c), and
(ii) for the purposes of those transactions, may issue such funds from the Exchequer as he or she considers appropriate.
( cb) All the expenses and other costs incurred by the Minister in connection with or arising out of those transactions shall be charged on the Central Fund.”,
( b) in section 139 by inserting the following after subsection (11):
“(12) The National Treasury Management Agency, in connection with the discharge of any of its functions, may—
( a) pay into any foreign currency clearing account the proceeds of any transaction denominated in a currency other than the currency of the State, and
( b) apply any amounts standing to the credit of any foreign currency clearing account towards the discharging of payment obligations arising in connection with the discharge of any of its functions.”.