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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 17 October 2024 - onwards
Version 4 of 4

5. Advances to Fund by Minister for Finance.

(1)

(a) The Minister may, on the recommendation of the Bank, advance from time to time to the Fund such sums as he or she thinks proper to enable payments out of the Fund under section 3, 3A, 3B and 3C to be made expeditiously.

(b) Where the Fund does not have sufficient resources to pay the Compensation Body the sums referred to in section 6(1) or 10(4) of the Act of 2024 -

(i) the Bank shall, within 5 working days of becoming aware of the insufficiency, give notice in writing of the insufficiency to the Minister, and