PART IV

Finance

Payments to Secretary of State

Secretary of State's general power
63
1
The Secretary of State may direct a development corporation or the Commission 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 or the Commission, as the case may be.
3
The debt shall carry interest at the rate for the time being in force under section 32 of the Land Compensation Act 1961 (or, in Scotland, section 40 of the Land Compensation (Scotland) Act 1963) from the date specified in the direction until payment.
4
In the application of this section and sections 64 and 66 below to Scotland, " development corporation " means the same as in the New Towns (Scotland) Act 1968.
1961 c. 33.
1963 c. 51.
1968 c. 16.