Miscellaneous
Section 22: Treasury Consent
59.The purpose of this section is to ensure that the Secretary of State can act only with the approval of Treasury in taking certain financial steps during the period in which the Corporation is wholly Government-owned or in buying securities in CDC plc after the sale of shares. The actions which need the Treasury's consent are:
making an order under section 1(3) to specify CDC’s accounting reference date and provide for the allotment of shares;
varying the terms of a loan under the 1978 Act, under section 8(2);
making a loan out of the NLF under section 9;
determining the terms of a loan under section 9, the terms of a guarantee under section 10 or the terms on which sums paid by the Secretary of State under a guarantee will be repaid to him;
determining how to calculate the sterling equivalent of any sum (section 15);
giving a guarantee under section 10;
forgiving a debt owed to the Government, under section 14;
directing the issue of securities etc. under section 16;
acquiring securities etc. under section 17;
disposing of securities acquired under section 6, 16 or 17;
issuing a direction under section 19 to certain persons holding securities etc.
