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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 12 July 1989 - onwards
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50. Provision of money to redeem legal tender notes.

Repealed from 12 July 1989

(1) All moneys required for the exchange of legal tender notes by the Commission (whether at the London Agency or in Dublin) in pursuance of this Act shall be provided by the Commission out of the legal tender note fund, and, if that fund proves insufficient, out of the currency reserve and, if such last-mentioned fund proves insufficient, out of moneys advanced under this section to the Commission out of the Central Fund.

(2) Whenever the legal tender note fund and the currency reserve have proved or are expected by the Commission to prove in the then near future insufficient to provide the moneys necessary for the exchange of legal tender notes by the Commission in pursuance of this Act, the Commission shall certify to the Minister the existence or expectation (as the case may be) of such insufficiency and the sum which is required by the Commission for the exchange in accordance with this Act of all such legal tender notes as in the opinion of the Commission will probably be pr

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