Disposal of land by development corporations
18C Payments under s. 18A treated as repayments.
1
The whole or part of any payment made to the Secretary of State under section 18A above shall, if the Secretary of State with the Treasury’s approval so determines, be treated—
a
as made by way of repayment of such part of the principal of advances under section 37(1) of this Act, and
b
as made in respect of the repayments due at such times,
as may be so determined.
2
Any sum treated under subsection (1) as a repayment of a loan shall be paid by the Secretary of State into the National Loans Fund.