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Repayable advances from the Central Fund
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3. (1) The Minister for Finance may, following a request from the Minister for Public Expenditure and Reform, and for the purpose of maintaining a sufficient amount of moneys in the Paymaster General’s Supply Account, having regard to the sums payable from that Account, put in place funding arrangements to—
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(a) facilitate electronic funds transfers in respect of certain payments due on the 1st and the 4th day of January 2016, and
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(b) facilitate certain payments, under the Social Welfare Acts, made on an agency basis by An Post payable between the 4th and the 8th day of January 2016.
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(2) Amounts required by the Minister for Finance under subsection (1), which in aggregate shall not exceed €90 million, shall be advanced out of the Central Fund or the growing produce thereof.
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(3) Any sums so advanced shall be repaid from the Paymaster General’s Supply Account to the Central Fund in January 2016.
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