Crown Agents Act 1979

16 Payments to Minister

(1) If for any accounting year there is an excess of revenue of the Crown Agents over the total sum required by them—

(a) to meet the total outgoings of the Crown Agents properly chargeable to revenue account; and

(b) to enable the Crown Agents to make such allocations to reserve as they consider adequate, and as may be necessary to comply with any directions under section 14 requiring them to make allocations to reserve,

the Minister may, with the approval of the Treasury and after consultation with the Crown Agents, give the Crown Agents directions requiring them to pay the whole or part of the excess to the Minister.

(2) Subject to any directions given to them under subsection (1), the Crown Agents may deal with any such excess as is mentioned in that subsection either—

(a) by applying it for such of the purposes of the Crown Agents as they may determine ; or

(b) by allocating it to reserve, whether generally or for a particular purpose,

or partly in one of those ways and partly in the other.

(3) The Minister may, with the approval of the Treasury and after consultation with the Crown Agents, direct the Crown Agents to pay to the Minister the whole or part of the sum for the time being standing to the credit of any reserve of the Crown Agents.

(4) Any sums received by the Minister in pursuance of this section shall be paid into the Consolidated Fund.