(1) The Minister for Finance may direct that any securities already issued or to be issued under that Minister's authority shall be deemed to have been, or shall be, issued subject to the condition that the interest on those securities shall be paid without deduction of tax.
(2) Subject to section 817V, the interest on all securities issued, or deemed to have been issued, subject to the condition referred to in subsection (1) shall be paid without deduction of tax, but all such interest shall be chargeable under Case III of Schedule D and, where any funds under the control of any court or public department are invested in any such securities, the person in whose name the securities are invested shall be the person so chargeable in respect of the interest on those securities.
(3) Where interest on any security is paid under this section without deduction of tax, every person by whom such interest is paid, every person who receives such interest on behalf of a registered or inscribed hol
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