Ministers and Secretaries (Amendment) Act 2011

54.

Amendment of National Building Agency Limited Act 1963.

54.— The National Building Agency Limited Act 1963 is amended—

( a) in subsection (1) of section 6, by the insertion of “with the consent of the Minister for Public Expenditure and Reform and” after “may,”,

( b) in subsection (2) of section 6, by the insertion of “after consultation with the Minister for Public Expenditure and Reform” after “Minister for Finance”,

( c) in subsection (1) of section 8, by the insertion of “with the approval of the Minister for Public Expenditure and Reform” after “shall”,

( d) by the substitution of the following section for section 10:

“10.— (1) There shall be paid into, or for the benefit of, the Exchequer, in such manner as the Minister for Public Expenditure and Reform considers appropriate, all dividends, bonuses, net proceeds of sale and other moneys received by him in respect of shares of the Company.

(2) There shall be paid into, or for the benefit of, the Exchequer, in such manner as the Minister for Finance, after having consulted with the Minister for Public Expenditure and Reform, considers appropriate—

( a) all moneys received by the Minister for Finance in repayment of, or in payment of interest on, moneys advanced by him under section 6 of this Act, and

( b) moneys repaid to, or recovered by, the Minister under subsection (4) or (6) of section 7 of this Act.”,

and

( e) in subsection ( a) of section 11, by the substitution of “the Minister for Public Expenditure and Reform” for “the Minister for Finance”.