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Treasury Bills Act 1877
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- 1877 c. 2
- Section 12
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12Application of 38 & 39 Vict. c.45 to interest on and allowance for management of Treasury bills.
Where any Act passed before the passing of this Act authorises the raising of money by Exchequer bills, and the interest on such Exchequer bills is in pursuance of the directions of that Act, or of the Sinking Fund Act, 1875, payable out of the permanent annual charge for the National Debt, the interest on Treasury bills issued to raise the said money shall be paid out of the said permanent annual charge.
The allowance and expenses paid to the Bank of England in pursuance of this Act shall be deemed to be part of the annual sums payable for the management of the National Debt within the meaning of the Sinking Fund Act, 1875, and shall be paid accordingly out of the permanent annual charge for the National Debt.
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