Explanatory Notes

Commonwealth Development Corporation Act 1999

1999 CHAPTER 20

27 July 1999

Commentary on Sections

Miscellaneous

Section 19: Securities held by or for Crown

57.Section 19 stipulates that the proceeds of the sale of shares in CDC or income received by the Secretary of State (or a person nominated by the Secretary of State) from dividends or securities should be paid into the Consolidated Fund. It also provides that a person holding securities-

shall deal with them as the Secretary of State may (with the consent of the Treasury) direct.