(1)Any loans which the Minister makes under section . . . F2 11 of this Act shall be repaid to him at such times and by such methods, and interest thereon shall be paid to him at such rates and at such times, as he may, with the approval of the Treasury, from time to time direct.
[F3(1A)Any loans which the Welsh Ministers make under section 11 of this Act shall be repaid to them at such times and by such methods, and interest thereon shall be paid to them at such rates and at such times, as they may from time to time direct.]
(2)The Treasury may issue out of the [F4National Loan Fund] to the Minister such sums as are necessary to enable him to make loans under section . . . F2 11 of this Act.
[F5(2A)Such sums as are necessary to enable the Welsh Ministers to make loans under section 11 of this Act may be issued to them out of the Welsh Consolidated Fund.]
(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
(4)Any sums received by the Minister under subsection (1) of this section shall be paid into the [F4National Loan Fund] . . . F7
[F8(4A)Any sums received by the Welsh Ministers under subsection (1A) of this section shall be paid into the Welsh Consolidated Fund.]
(5)The Minister shall, as respects each financial year, prepare in such form and manner as the Treasury may direct an account of sums issued to him under this section and of the sums to be paid into the [F4National Loan Fund] under subsection (4) of this section and of the disposal by him of those sums respectively, and send it to the Comptroller and Auditor General not later than the end of November following the year; and the Comptroller and Auditor General shall examine, certify and report on the account and lay copies of it, together with his report, before each House of Parliament.
[F9(6)The Welsh Ministers shall, as respects each financial year, prepare an account of sums issued to them under this section and of the sums to be paid into the Welsh Consolidated Fund under subsection (4A) and of the disposal by them of those sums respectively, and send it to the Auditor General for Wales not later than the end of November following the year; and the Auditor General for Wales shall examine, certify and report on the account and lay copies of it, together with his report, before the National Assembly for Wales.]
Textual Amendments
F1Words in s. 43 heading inserted (1.4.2018) by Wales Act 2017 (c. 4), ss. 30(5)(e), 71(4) (with Sch. 7 paras. 1, 6, 9); S.I. 2017/1179, reg. 3(g)
F2Words repealed by Transport Act 1981 (c. 56, SIF 58), Sch. 12 Pt. II
F3S. 43(1A) inserted (1.4.2018) by Wales Act 2017 (c. 4), ss. 30(5)(a), 71(4) (with Sch. 7 paras. 1, 6); S.I. 2017/1179, reg. 3(g)
F4Words substituted by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 1
F5S. 43(2A) inserted (1.4.2018) by Wales Act 2017 (c. 4), ss. 30(5)(b), 71(4) (with Sch. 7 paras. 1, 6, 9); S.I. 2017/1179, reg. 3(g)
F6S. 43(3) repealed by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 6 Pt. I but not so as to affect any money borrowed before 1.4.1968, or any requirement as respects any account or statement for the year ending on 31.3.1968 or any earlier year
F7Words repealed by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 6 Pt. I but not so as to affect any money borrowed before 1.4.1968 or any requirement as respects any account statement for the year ending on 31.3.1968 or any earlier year
F8S. 43(4A) inserted (1.4.2018) by Wales Act 2017 (c. 4), ss. 30(5)(c), 71(4) (with Sch. 7 paras. 1, 6); S.I. 2017/1179, reg. 3(g)
F9S. 43(6) inserted (1.4.2018) by Wales Act 2017 (c. 4), ss. 30(5)(d), 71(4) (with Sch. 7 paras. 1, 6); S.I. 2017/1179, reg. 3(g)
Modifications etc. (not altering text)
C1S. 43(1) amended by National Loans Act 1968 (c. 13, SIF 99:3), Sch. 1