Section 3: Proceeds

(1) The proceeds of the issue of the Treasury Certificates issued under this Act shall be paid into the Consolidated Revenue Fund.
(2) Where the Minister is satisfied that the proceeds of the issue of Treasury Certificates or any part of such proceeds should be made available by way of loan to a State, the Minister may issue a warrant for payment in a form approved by him in favour of the Government of the State, and moneys shall be paid out of the Consolidated Revenue Fund as directed in the warrant.