(1) Without prejudice to section 83 of the Constitution of Saint Lucia, proceeds of funds borrowed by the Government, by way of the issuance of Government securities in accordance with this Act or any other enactment, shall be —
(a) paid into the Consolidated Fund; or
(b) paid into a special fund for that purpose, if consistent with applicable laws.
(2) The principal amount and interest, as provided for by the terms of the Government debt instrument, paid on Government borrowing, including Government securities and other expenses and charges related to the Government debt instruments as approved by the Minister, are a charge on and is payable out of the Consolidated Fund.