(1)The Secretary of State may direct a development corporation F1... to pay to him, on the date specified in the direction, such sum as is so specified, and any sum so received by him shall, subject to section 66(2) below, be paid into the Consolidated Fund.
(2)Before giving a direction under this section the Secretary of State shall consult the corporation F2....
(3)The debt shall carry interest at the rate for the time being in force under section 32 of the M1Land Compensation Act 1961 F3... from the date specified in the direction until payment.
F4(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 63(1) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 17(2), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F2Words in s. 63(2) repealed (1.4.2009) by Housing and Regeneration Act 2008 (c. 17), s. 325(1), Sch. 5 para. 17(3), Sch. 16; S.I. 2009/803, arts. 3(1), 10
F3Words in s. 63(3) repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(2), Sch. 4
F4S. 63(4) repealed by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(2), Sch. 4
Modifications etc. (not altering text)
C1S. 63 excluded (S.) by New Towns and Urban Development Corporations Act 1985 (c. 5, SIF 123:3, 4), s. 14(1), Sch. 3 para. 9
C2S. 63 modified (E.) (24.7.2018) by The New Towns Act 1981 (Local Authority Oversight) Regulations 2018 (S.I. 2018/891), regs. 1, 5(c)
Marginal Citations