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(1)Before taking any of the following actions the Secretary of State shall obtain the consent of the Treasury—
(a)making an order under section 1(3),
(b)varying a direction in accordance with section 8(2),
(c)making a loan under section 9(1),
(d)making a determination under section 9(3), 10(6) or 15(3),
(e)giving a guarantee under section 10(3),
(f)entering into arrangements under section 10(7),
(g)extinguishing a liability under section 14(2),
(h)giving a direction under section 16 or 19,
(i)arranging for a disposal of securities acquired by virtue of section 6, 16 or 17, or
(j)arranging for an acquisition of securities or rights under section 17.
(2)The Treasury’s consent—
(a)may be general or specific, and
(b)may be conditional or unconditional.
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Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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