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National Loans Act 1968

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Valid from 15/11/1999

[F113(1)The Treasury shall from time to time pay out of the National Loans Fund into the Debt Management Account sums (if any) which the Treasury consider appropriate to compensate the Account in respect of [F2(a)]payments of interest made from the Account [F2, and.E+W+S+N.I.

F3(b)any discount on any Treasury bills issued by virtue of paragraph 4 above.]

(2)Payments to be made out of the National Loans Fund under sub-paragraph (1) above shall be treated for the purposes of section 15 of this Act as charges on that Fund for the service of national debt.

(3)The Treasury may from time to time pay out of the Debt Management Account into the National Loans Fund sums (if any) which the Treasury consider appropriate in respect of [F4(a)]interest received or earned by the Account [F4, and

F5(b)any benefit accruing to the Account which, in the opinion of the Treasury, ought to be treated in the same way as such interest.]]

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Amendments (Textual)

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

F2Words renumbered as Sch. 5A para. 13(1)(a) (27.7.1999) by 1999 c. 16, s. 134(5)

F3Sch. 5A para. 13(1)(b) inserted (27.7.1999) by 1999 c. 16 s. 134(5)

F4Words renumbered as Sch. 5A para. 13(3)(a) (27.7.1999) by 1999 c. 16, s. 134(6)(8)

F5Sch. 5A para. 13(3)(b) inserted (27.7.1999) by 1999 c. 16, s. 134(6)(8)

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