22. —(1) The Minister may, for the purposes of providing central treasury services, make payments to and from the Post Office Savings Bank Fund.

F19[(1A) The Minister—

(a) may engage in transactions of a normal banking nature in connection with the exercise of the powers in subsection (1), and

(b) for the purposes of those transactions, may issue such funds from the Exchequer as he or she considers appropriate.

(1B) All expenses and other costs incurred by the Minister or the Agency, as appropriate, in connection with or arising out of those transactions shall be charged on the Central Fund.]

(2) If the function conferred on the Minister by section 20(1) stands delegated to the Agency by virtue of an order under section 23, the power of the Minister under F20[subsections (1) and (1A)] may be exercised by the Agency.