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Cap. 222 · cap/222 (Cap. 222)

Cap. 222 Art. 11Savings Bonds IncomeAccount.

In forceOfficial text

(1) All dividends, interest and other revenue derived from investments or other employment of moneys in the Fund made under article 10(2) shall be paid into an account to be called the Savings Bonds Income Account and to be held with the Bank.

(2) There shall be charged upon and paid out of the Account without any further appropriation other than this Act -

(a) all expenses relating to the promotion and administration of the bonds and all other charges connected therewith, including all preliminary expenses incurred or paid before the coming into force of this Act; and

(b) all interest payable in respect of bonds.