Section 4: Financial provisions

4. Financial provisions (1) There shall be paid out of the Consolidated Fund, on the warrant of the Minister, all sums required for the purpose of making all payments required to be made— (a) to the Fund under the Membership Resolution and the Fund Agreement and all payments resulting from the participation of Mauritius in the Special Drawing Account of the Fund; (b) to the Bank under the Membership Resolution and the Bank Agreement; (c) to the Corporation under the Membership Resolution and the Corporation Agreement. (2) The Minister may borrow from the Bank of Mauritius such sums as may be required for the purpose of making the payment specified in subsection (1). (3) The Minister may, if he thinks fit, create and issue to the Fund, the Bank or the Association non-interest bearing and non-negotiable notes or other obligations as are provided for by section 5 of Article III of the Fund Agreement, by section 12 of Article V of the Bank Agreement and by section 2 (e) of Article II of the Association Agreement, and the sums payable under the notes or obligations so created and issued shall be charged on the Consolidated Fund. (4) Any sums received by Government from— (a) the Fund; (b) the Bank; (c) the Corporation on account of its subscription of the capital stock thereof; or (d) the Association on account of its subscription therein or of supplementary resources provided by it, shall be paid into the Consolidated Fund or such other Fund as may be designated by the Minister. (5) Any special drawing rights and any sums received by Government pursuant to or by reason of the operations or transactions under Articles XXI [Issue 2] I17 – 2 Revised Laws of Mauritius to XXXII of the Fund Agreement shall be treated as assets of an account of Government of Mauritius to be maintained in accordance with the Fund Agreement. [S. 4 amended by s. 22 (3) of Act 4 of 2008 w.e.f. 1 July 2008.]