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National Loans Act 1968

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Valid from 15/11/1999

[F1 The accountE+W+S+N.I.

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F1Sch. 5A inserted (15.11.1999 subject to arts. 5-7 of S.I. 1999/2908) by 1998 c. 36, s. 160, Sch. 26 para. 1(3); S.I. 1999/2908, arts. 1, 2

1(1)The Treasury shall establish an account to be known as the Debt Management Account.E+W+S+N.I.

(2)The Treasury shall operate the Debt Management Account with the objects of—

(a)securing over time that sums are available to meet any daily shortfalls in the National Loans Fund and that any daily surpluses in that Fund are used to the best advantage;

(b)facilitating the raising of money under section 12 of this Act;

[F2(ba)meeting any request to borrow money from the Treasury, made by the Bank of England;]

(c)promoting the liquidity, stability and efficiency of the market in securities issued under section 12 of this Act and the market in Treasury bills issued under the M1Treasury Bills Act 1877;

(d)providing a facility by which public bodies may exercise their powers to acquire and transfer such securities and bills;

(e)securing the general management of debt so far as it takes the form of such securities and bills.]

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