Cap. 601 Art. 13TheContingencies Fund.

(1) There shall be established a fund to be known as the

''Contingencies Fund'' with an authorised capital amounting to five million euro (€5,000,000), which amount shall be provided within a period of not more than five (5) years by appropriations made from time to time out of the Consolidated Fund.

(2) If, in respect of any financial year, it is determined that an urgent and unforeseen need for expenditure has arisen for which no other provision exists, the Minister may authorise by warrant an advance from the Contingencies Fund to meet that need:

Provided that, where such an advance has been made, the Minister shall seek the approval of the House through the Supplementary Estimates as provided for in the Act, showing the moneys required or spent and the transfer from the Consolidated Fund to the Contingencies Fund of the moneys advanced therefor.

(3) The Contingencies Fund shall be operated in accordance with the rules set out in the Schedule. The provisions of this Schedule may be amended by further rules to be made by the Minister, which shall be published in the Gazette and shall be laid on the Table of the House at the next meeting thereafter.