S.I. No. 241/1951:

IRISH NATIONAL HEALTH INSURANCE FUND (INVESTMENT OF SURPLUS SUMS) REGULATIONS, 1951.

IRISH NATIONAL HEALTH INSURANCE FUND (INVESTMENT OF SURPLUS SUMS) REGULATIONS, 1951.

The Minister for Finance, in exercise of the powers conferred on him by section 14 of the Social Welfare Act, 1950 (No. 14 of 1950), and of every and any other power him in this behalf enabling, hereby makes the following regulations :--

1. These Regulations may be cited as the Irish National Health Insurance Fund (Investment of Surplus Sums) Regulations, 1951.

2. In these Regulations :--

" the Minister " means the Minister for Finance,

" the section " means section 14 of the Social Welfare Act, 1950 (No. 14 of 1950) ;

" retained moneys " means moneys retained by the Minister pursuant to the section ;

" approved securities " means the securities, stocks and funds specified in the section.

3. The following provisions shall have effect in relation to the investment by the Minister of retained moneys :

(a) as soon as conveniently may be after receiving any such moneys, the Minister shall invest them in such one or more of the approved securities as he considers suitable ;

(b) any such investment may be realised by the Minister for the purpose of reinvestment or any other lawful purpose ;

(c) the Minister shall keep a record of all retained moneys and shall prepare an account thereof in respect of each financial year ;

(d) every such account shall be rendered to the Comptroller and Auditor General.

GIVEN under the Official Seal of the Minister for Finance, this 17th day of August, 1951.

(Sgd.) O. J. REDMOND.

An Assistant Secretary, Department of Finance.

A Person authorised under section 15 of the Ministers and Secretaries Act, 1924 , to authenticate the Seal of the said Minister.