(1) For the purpose of raising money for the Exchequer, the Minister for Finance may, whenever and so often as he thinks fit, create and issue securities bearing interest at such rate as he thinks fit or no interest and subject to such conditions as to repayment, redemption or any other matter as he thinks fit.

(2) The principal of, the interest (if any) and the premium on redemption (if any) on securities issued under this section or issued by the Minister for Finance under any other provision of an Act of the Oireachtas and the expenses incurred in connection with the issue thereof shall be charged on the Central Fund or the growing produce thereof.

(3) Moneys borrowed under this section shall be placed to the credit of the account of the Exchequer and shall form part of the Central Fund and be available in any manner in which that Fund is available.

(4) Expenses incurred by the Minister in arranging that money shall be available for borrowing by him at such time as he may think fit shall be charged on the Central Fund or the growing produce thereof.

(5) The Minister for Finance may purchase securities created or issued by him either under this section or under any other provision of an Act of the Oireachtas whenever and so often as he thinks fit and in any manner, whether in the open market or otherwise, and any such securities so purchased shall be cancelled.

(5A) The purchase price and the expenses and other costs paid or incurred by the Minister for Finance under subsection (5) of this section shall be charged on the Central Fund or the growing produce thereof.