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Pensions Act 2008

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This is the original version (as it was originally enacted).

Finance

This section has no associated Explanatory Notes

18(1)The Secretary of State may, with the consent of the Treasury, give financial assistance to the trustee corporation.

(2)The assistance—

(a)may take the form of grants, loans, guarantees or indemnities;

(b)may be given on conditions;

(c)in the case of a loan, must be given on a condition requiring the loan to be repaid with interest at a rate approved by the Treasury.

(3)Section 5 of the National Loans Act 1968 (c. 13) (rates of interest on certain loans out of the National Loans Fund) has effect as respects the rate of interest on a loan under this paragraph as it has effect as respects a rate of interest within subsection (1) of that section.

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