(1) All money from time to time required by the Minister for Public Expenditure and Reform to meet sums which may become payable by him or her under section 27 shall be advanced out of the Central Fund or the growing produce thereof.

(2) The Minister for Public Expenditure and Reform may, for the purpose of providing for advances out of the Central Fund under this section, borrow on the security of the Central Fund or the growing produce thereof any sums required for that purpose and, for the purpose of such borrowing, he or she may create and issue securities bearing interest at such rate and subject to such conditions as to repayment, redemption or any other matter as he or she thinks fit, and shall pay all sums so borrowed into the Exchequer.

(3) The principal of and interest on all securities issued under this section and the expenses incurred in connection with the issue of the securities shall be charged on and payable out of the Central Fund or the growing produce thereof.