Electricity (Supply) Act 1927
Payment of interest on advances.
13.—(1) The Board shall pay to the Minister for Finance on every sum advanced to the Board out of the Central Fund under this Act interest from the date of the advance of such sum until the same is repaid at such rate as shall be appointed by the Minister for Finance F9[…] and such interest shall be so paid by equal half-yearly payments on such days in every year as the Minister for Finance shall from time to time appoint.
(2) If the Board fails to pay to the Minister for Finance any interest payable by it under this section at the time appointed in that behalf under this section, the Board shall pay to the said Minister interest at the rate appointed by the said Minister on the interest so unpaid from the time appointed as aforesaid until the same is actually paid.
(3) Any interest payable by the Board to the Minister for Finance under this section on or before the appointed day, may be paid by the Board out of the moneys advanced to the Board out of the Central Fund under this Act.
(4) All interest paid to the Minister for Finance by the Board under this section shall be paid into the Exchequer in such manner as the said Minister shall from time to time direct.
F10[(5) The Minister for Finance may from time to time vary the rate at which interest payable under this section is to be paid.]
Annotations
Amendments:
F9
Deleted (3.07.1930) by Electricity (Supply) (Amendment) Act 1930 (19/1930), s. 5(a), commenced on enactment.
F10
Inserted (3.07.1930 with retrospective effect) by Electricity (Supply) (Amendment) Act 1930 (19/1930), s. 5(b), commenced on enactment.
Modifications (not altering text):
C17
Application of section extended (19.02.1935 with retrospective effect) by Shannon Fisheries Act 1935 (4/1935), s. 13(4), commenced on enactment.
Shannon Fisheries Act 1935
13.— ...
(4) All advances made to the Board under this section shall, for the purposes of sections 13, 14 and 16 of the Act of 1927 as amended by any subsequent enactment, be deemed to be made under that Act, and those sections as so amended shall apply in respect of such advances accordingly.
...
C18
Application of section extended (31.07.1931) by Electricity (Supply) (Amendment) Act 1931 (32/1931), s. 3(4), commenced on enactment.
Additional advances to the Board.
3.— ...
(4) All advances made to the Board under this section shall, for the purposes of sections 13, 14, and 16 of the Principal Act as amended by any subsequent enactment, be deemed to be made under the Principal Act, and those sections as so amended shall apply in respect of such advances accordingly.