SCHEDULES

SCHEDULE 8The Radio Authority: Supplementary Provisions

Advances to Authority

13

1

For the purpose of—

a

furnishing the Authority with working capital, or

b

enabling them to meet any capital expenditure,

the Secretary of State may, with the consent of the Treasury, make advances to the Authority out of money provided by Parliament.

2

The aggregate amount outstanding by way of principal in respect of sums advanced to the Authority under this paragraph shall not at any time exceed £3 million.

3

Any sums advanced under this paragraph shall be repaid to the Secretary of State at such times and by such methods, and interest on those sums shall be paid to him at such times and at such rates, as he may from time to time direct with the consent of the Treasury.