Financial provisions

6Receipts and expenditure

1

All receipts of the Corporation other than—

a

receipts determined by the Corporation in accordance with any directions under section 2(4) above to be required to be retained for meeting expenses properly payable out of income, and

b

receipts consisting of sums borrowed under section 13 of the Industry Act 1980 or section 4 above,

shall be paid over to the Secretary of State.

2

The expenses of the Corporation incurred in the exercise of its functions under this Act, other than section 3 above, shall, except in so far as they are met out of the receipts of the Corporation, be defrayed by the Secretary of State.