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National Loans Act 1968

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Use of National Loans Fund for other purposesE+W+S+N.I.

7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1E+W+S+N.I.

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Amendments (Textual)

8 Government annuities.E+W+S+N.I.

(1)All immediate life annuities mentioned in section 8(1) of the M1Government Annuities Act 1929, and all immediate savings bank annuities, shall be charged on and issued out of the National Loans Fund, with recourse to the Consolidated Fund.

(2)Accordingly in the said Act,—

(a)in sections 8(1), 19 and 24(3) in Part I, and

(b)in sections 41(1)(3), 55 and 59(3) in Part II,

for “Consolidated Fund” there shall be substituted “ National Loans Fund ”.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Modifications etc. (not altering text)

C1The text of ss. 1(5), 8(2), 13(5), 17(1), 24(2) and Sch. 6 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

Marginal Citations

9 Profits of Issue Department of Bank of England.E+W+S+N.I.

(1)Subject to subsection (5) below, amounts payable to the Treasury under section 6(1) of the M2Currency and Bank Notes Act 1928 (profits of the Issue Department of the Bank of England) shall be paid into the National Loans Fund.

(2)The assets held in the said Department shall be valued, at market prices, at such times and in such manner as may be agreed between the Treasury and the Bank of England, but at least once in each financial year.

(3)If, as the result of any such valuation, the value of the assets then held in the said Department falls short of the total amount of the Bank of England notes then outstanding, the Treasury shall assume a liability to the said Department of an amount equal to the difference.

(4)Any liability assumed under subsection (3) above—

(a)shall be included among the assets held to cover the fiduciary note issue in accordance with section 3(1) of the M3Currency and Bank Notes Act 1928,

(b)shall be subject to such conditions as to repayment and other matters as may be agreed between the Bank of England and the Treasury, but shall not bear interest,

(c)shall be charged on the National Loans Fund with recourse to the Consolidated Fund.

(5)So long as any part of any liability assumed under subsection (3) above is outstanding, any amount due to be paid to the Treasury under section 6 (1) of the M4Currency and Bank Notes Act 1928 shall instead be applied towards meeting that liability.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Marginal Citations

10 Payments to be made out of Votes and not out of Consolidated Fund.E+W+S+N.I.

(1),(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F2

(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F3

[F4(4)The Board of Trade shall pay out of money provided by Parliament such sums as are required to enable the Board—

(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5

(b)to make advances to the National Film Finance Corporation under the Cinematograph Film Production (Special Loans) Act 1949.]

(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6

(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F7

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F2S. 10(1)(2) repealed by Overseas Development and Co-operation Act 1980 (c. 63, SIF 88), s. 18, Sch. 2 Pt. I

11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F8E+W+S+N.I.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

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