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Power to Commissioners of the Treasury to invest unproductive Cash.
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LXXXIX. ‘Whereas it has been found that a large Sum in Cash, the Produce of the Sales under the Court for the Sale of Incumbered Estates in Ireland, has from Time to Time been lying unproductive in the Bank of Ireland: And whereas there is Reason to expect that a large Sum in Cash, the Produce of Sales under the Court hereby constituted, will be unproductive, unless the same shall be rendered profitable in the Manner herein-after provided:’ Be it therefore enacted, That it may be lawful for the Commissioners of Her Majesty’s Treasury, at their Discretion, to make such Arrangements, from Time to Time, as to them shall seem expedient, for the Investment in Public Funds or in Exchequer Bills or Exchequer Bonds of so much as they may think fit of the Cash, being the Proceeds of Sales lodged in the Bank of Ireland under the Provisions of this Act, as in their Opinion, after Reference to and Report from the Judges of the said Court, may not be required to meet the Payments or special Investments which may from Time to Time be ordered by the Court, or, if the said Commissioners shall think fit, it shall be lawful for them, at their Discretion, to make such other Arrangements with the said Bank as they may deem expedient for rendering such Cash, or such Part thereof as aforesaid, productive while deposited, in the said Bank; and the Dividends, Interest, or other annual Proceeds derived from such Public Securities, or from any other Arrangements with the said Bank, shall be paid to and form Part of the Consolidated Fund of the United Kingdom of Great Britain and Ireland: Provided that if at any Time the whole or any Part of the Securities in which such Cash may be so invested shall be wanted to answer any of the Demands of the Parties entitled thereto in the several Matters pending in the said Court, then and in such Case the said Commissioners, on the Certificate from the Court of such Want, may direct such Securities or any Part thereof to be disposed of, in order that such Parties may at all Times be paid the Sums in full to which they may be respectively entitled.
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