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Postal and Telecommunications Services Act 1983
Recoupment of company for cost of managing savings services.
109.—(1) (a) An appropriate sum shall be paid to the company in respect of work done by the company in the exercise of powers conferred on it by this Part as follows—
(i) from the moneys of the Savings Bank for work done in respect of the Savings Bank, and
(ii) from the Exchequer for work done in respect of other Government savings services.
(b) The appropriate sum payable to the company, the manner in which and the intervals at which it is to be paid shall be decided by the company with the consent of the Minister for Finance.
(2) (a) The company shall pay to the Minister for Finance promptly the amounts received by the company for deposit in the Savings Bank or in other Government savings services.
(b) The manner of payment and the periods for which payments are to be made shall be determined by the said Minister after consultation with the company.
(3) The company shall furnish such information as the Minister for Finance may require for the purposes of this section.
Annotations
Modifications (not altering text):
C57
Government may delegate functions of Minister under section as provided (17.07.1990) by National Treasury Management Agency Act 1990 (18/1990), s. 5 and sch. 1, commenced on enactment.
Delegation of functions to Agency.
5.—(1) The Government may by order delegate to the Agency the functions of the Minister specified in the First Schedule and any other functions of the Minister in relation to the management of the national debt or the borrowing of moneys for the Exchequer that the Minister considers appropriate and are specified in the order.
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FIRST SCHEDULE
Functions of the Minister that may be delegated to the Agency
Section 5.
The functions of the Minister under— ...
(h) sections 103, 104 and 109 of the Postal and Telecommunications Services Act, 1983,
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