(1)At the beginning of subsection (1) of section 12 of the M1National Loans Act 1968 (power of Treasury to borrow) there shall be inserted the words “ Any money which the Treasury consider it expedient to raise for the purpose of promoting sound monetary conditions in the United Kingdom and ”.
(2)After the said subsection (1) there shall be inserted the following subsection:
“(1A)The terms (as to interest or otherwise) on which any balance for the time being in the National Loans Fund is to be held shall be such as may be agreed between the Treasury and the Bank of England.”
F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1S. 152(3) repealed (10.7.2003) by Finance Act 2003 (c. 14), Sch. 43 Pt. 5(5)
Modifications etc. (not altering text)
C1The text of s. 152 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991
Marginal Citations