261Payments under s.59 of Act of 1947 and Parts I and V of Act of 1954
(1)The Secretary of State shall pay out of moneys provided by Parliament any payments falling to be made by him on or after 1st April 1968 under—
(a)section 59 of the Act of 1947 (war-damaged land); or
(b)any provision of Part I or Part V of the Act of 1954.
(2)The aggregate of the sums issued to the Minister of Housing and Local Government or the Central Land Board out of the Consolidated Fund in any financial year ending before the said 1st April under section 64(1) of the Act of 1954 (sums required for making payments under Part I or Part V of the Act of 1954) shall be repaid by the Secretary of State into the National Loans Fund, as mentioned in subsection (3) of this section, with interest thereon at such rate as the Treasury may determine, such interest accruing, in respect of the whole aggregate, from such date in the financial year in which the sums were issued as the Treasury may determine.
(3)The said aggregate shall be repaid by twenty equal annual instalments, of principal and interest combined, falling due on the anniversary of the date determined under subsection (2) of this section, the first such instalment falling due in the financial year next following the financial year in which the sums in question were issued.
(4)Any sums received by the Secretary of State by virtue of—
(a)the provisions of section 159 of this Act, as applied by Schedule 24 to this Act to compensation paid under Part V of the Act of 1954 ; or
(b)the provisions of section 257 of this Act as so applied
shall be paid into the Consolidated Fund.