27
In forceAvailability of funds to pay interest
Part 3Interest on commercial accounts
27 Availability of funds to pay interest
(1)
Interest payable under this part is payable whether or not there is an appropriation available for the purpose.
(2)
If a commercial account is payable out of a trust banking account under the Financial Management Act 1996, section 51 (Directorate trust banking accounts), any interest payable under this part for the account is also payable out of the account.
This Act’s bill:Explanatory statementSecond reading speech
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